9 Ways Technology Can Transform Your Business

Technology is continuously changing the way businesses operate and connect with customers. Today, an organization’s success is determined by how quickly it can keep up with the latest technological advancements. These advancements, including artificial intelligence and cloud storage, have sped up digital transformation in many companies in all sectors. Statistics show that about 65% of businesses with more than 100 workers undergo major digital transformations. When done right, these changes can create new opportunities for organizations to plan their growth in the future. 

Introducing technology to your business is a gradual process. However, there are some changes that you can make that can be easily integrated into your workflow with little to no interruptions. Are you wondering how technology can change your business for the better? Check out some of the advantages of using technology to transform your business operations. 

1. Manage work projects more efficiently

Due to technology, many business owners and working teams find it easier to stay on top of their tasks and projects. This is due to the creation of several online task and project management tools like Podio, Microsoft Teams, Teamdeck, Google Suite, and Basecamp that make collaboration easy and eliminate the need for physical meetings and discussions. These web-based platforms also make it easier for teams to share documents at any time. 

Many types of apps are designed to help you collate and read data, analyze it, and turn your results into reports. For example, applications like QuickBooks and FreshBooks are excellent accounting applications that help business owners with little to no accounting keep up with their payroll, inventory management, and expenses. 

If your business spends a lot of time communicating with customers, applications like Belly, Nimble, and Salesforce can help you improve customer relations. With these apps, you can create loyalty and rewards programs, communicate with customers via text or email, and provide insights into your target customer base. 

2. Improves logistics 

One of the best qualities a business must have is getting products and services out to customers within the shortest possible time. As consumers continue to set higher expectations for convenience and quick delivery of services, it is crucial that businesses also streamline the process to meet those demands. This is why many businesses today are merging advanced technological approaches with their logistics to make shipping and inventory management seamless. 

If your business involves providing a service within a particular area or neighborhood, you can look into apps designed to make your logistics easier. For example, if you run a waste collection and disposal company, many apps can help with routing optimization for waste management services. Doing this would make your company more reliable and increase customer satisfaction, increasing revenue and growth.

3. Reduces paper wastage

A significant advantage that technology has brought to many businesses is that there has been a significant increase in paperless offices. When you run a paperless office, it doesn’t only help you protect the environment; it also improves workplace collaboration and can make the entire workflow process in your business more streamlined. If your team still relies heavily on hard copies for its daily operations, you could be missing out on the great benefits of going paperless. 

Of course, it might not be possible for some businesses to go entirely paperless. But with technology, you can reduce how much paper you spend and use. Having a paperless system increases productivity, as multiple people can work on different document sections at once. Software applications like Google Docs and Microsoft Word allow users to track changes and leave comments and suggestions for others. Doing so also reduces the number of mistakes made. 

Paperless technology is steadily increasing, even in businesses that rely heavily on papers, from healthcare to legal services. It is the fastest and best way to include technology into your business at a cost-friendly rate. 

4. Switch to a mobile-first business environment 

You have a business website. That’s great! But in 2022, it’s no longer the only way you can connect with customers. With many companies like Google shifting to a mobile-first environment, it’s time for you to do so. You might be wondering why it’s necessary. A recent study revealed that 79% of smartphone users used their mobile devices for online purchases in the past couple of months. If you rely on a website that isn’t optimized for mobile devices, you are losing out. Going mobile-first is the new recipe for business success.

But it isn’t just your customers that you have to focus on when shifting to a mobile-first business environment. If you and your workers are constantly on the run, having a mobile-first policy can help you keep in touch during working hours.

So, no matter your reason for going mobile-first, you must always ensure that you blend mobile technology into your everyday business operations to make communication more effective and boost your sales. 

5. Makes remote working an effective possibility 

Technology has made remote work possible now more than ever. Even though remote work has been steadily rising, the 2020 pandemic increased this phenomenon significantly as many companies began to entertain and see its benefits. The transition was much smoother than expected because of all the advanced software applications and tools. 

Today, remote work business opportunities are becoming the new normal. Because of the availability of numerous applications and tools, work teams do not have to meet physically to complete tasks. Virtual meeting rooms have made it possible for teams to connect from all corners. There are reports of increasing work productivity among remote workers. Plus, it helps both the business and employees save costs on business operations and commuting.

6. Increases employee productivity and retention

Technology has helped many companies remain consistent in their output delivery, even during tough economic times. For example, data backup plans and services have allowed several businesses to bounce back after data loss issues. Your workers can perform their duties as efficiently and effectively as possible. Because of these advancements, your employees are more productive and feel less overwhelmed with tasks and other work-related activities. 

Having a team using technology to consistently meet their goals helps your workers feel more successful and essential to the business. Doing so boosts their morale and maintains it during tough times. When their morale is high, they are more likely to stay. 

7. Encourages the use of artificial intelligence

Artificial intelligence (AI) is changing how many businesses operate worldwide in almost all industries and consumer markets. There are so many things that AI can do, from providing security to machine learning. AI can even help identify leads and generate those leads into sales. It does this task by tracking potential buyers and predicting their likelihood to make a purchase based on their search history or pattern. 

Some people worry about AI taking over most human jobs, but as time goes on, new roles and jobs will make working with AI more comfortable for many. Although the effects of introducing AI to many businesses are not fully known, it is sure to have a great impact on global economies. 

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8. Cloud computing

When companies adopt cloud computing strategies, it encourages more flexibility and collaboration. Cloud computing enabled businesses to move a portion of their operations onto third-party servers through a solid internet connection. There are several reasons businesses are switching to cloud computing beyond just storing data. It is a perfect option for businesses on the go. Switching to the cloud means working anywhere, easy access to information, and added security. 

Companies that adopt cloud computing services are more innovative in their business. Several small to medium-sized businesses adopt cloud computing strategies because they are more cost-effective. They do not have to spend large amounts of money purchasing physical servers and other charges that come with hardware installations. 

9. Improves customer service

Thanks to technology, businesses can now provide their customers with quick and effective services. Most customers prefer to communicate via these channels: phones, live chat, email, online support portals, and social media. Time is of the essence when communicating with your customers. Many of them are unwilling to wait for more than 2 minutes when they call businesses. Therefore, you must get creative with how you can get to them in record time. 

Technology has opened more doors for effective communication with your customers. If you have a customer call center, several tools collect information, which can be funneled to customer care agents. That way, they can personalize each customer’s experience and resolve issues quickly. You must give your customers a stress-free experience. When you communicate with them effectively, they are more likely to return. This means more business for you. 

There is no doubt about how beneficial technology has been to many businesses. A small application can go to great lengths to enhance your business within a small period. Technology also helps you set goals and track them efficiently. It also provides data that keeps you informed on your business’s performance and identifies areas where you might need to improve. You can redesign your business’s strategy with solid information and supporting data.