In today’s world, technology is all around us. For businesses, technology has sparked a business revolution. Since the age of computers, businesses have been working hand in hand with the latest IT technologies to help streamline, automate and make their businesses more efficient. Below are some ways in which modern information technology has helped re-shape how businesses run.
In today’s world, information is shared at an alarmingly fast rate, thanks to advances in technology. Electronic mail – or e-mail – provides business with a quick, easy-to-use means of sharing information with clients, suppliers and other businesses. Improved communication speeds means information can be shared more quickly and more easily, and businesses can advance quickly.
The use of machines as opposed to humans has overcome the problem of human error and the costs associated with correcting errors and funding waste. Improved accuracy ultimately means less money spent on nothing, and more money available to fund business evolution. Technology therefore offers value for money for businesses.
Improving Employee Knowledge and Output
Although a lot of companies have moved systems to automation, employees still obviously play a vital role In implementing changes to the business and helping drive them forward. Employees are becoming more efficient in understanding how a business integrates with technology through things such as ITIL Training. These training mechanisms help a business integrate technology at all levels, improving output and efficiency.
In the past, data – in the form of masses of fragile paperwork – was filed away in hefty files. Going through the data was difficult and time-consuming, and the risk of important information being destroyed or going missing was high. Technology has allowed for information to be stored electronically, providing a safe, easy to use means of storing data that won’t take up any vital office space. The storage systems can be backed-up to prevent information loss. Technology also means that information can be at hand and updated quickly, reflecting the need for quick-paced information in business industries.
With the help of technology, business data can be shown clearly using computer programs such as Microsoft Excel. Quantitative numerical data can be shown clearly in a graph or a chart, or presented using a table. Word Processing programs can help support written information such as letters and annual business reports. Even oral presentations, useful in conferences and other staff meetings, can be supported by technology, providing a useful and supportive back-drop of evidence for speeches and staff discussions.
Technology can also be used to monitor business success and expenditure. The information available to a business can be converted into graphs and used to identify whether company targets are being met, whether the business is performing as expected. Because data can be stored indefinitely and pulled to hand whenever necessary, information from one business year can be compared to information from a current year to determine whether a company is on track for a profit or a loss.