Technology is generally defined as the practical application of scientific knowledge in the commercial and industrial field. Have you ever tried to imagine how the business world would work without technology? Everyone will agree that technology is actually essential for all companies if they are small or large. Companies depend on the technology in many ways ranging from research, development, production and even to delivery. Small businesses use computers for their point-of-sale systems and information management systems that contain employee information, customers and accounting. As a result, technology and businesses can not be separated since the prosperity of business needs.
Technology has brought several benefits to the business world. It has increased the speeds in which we transform our business operations since with the manual technology work is considerably reduced. With the help of the Internet, the interactions by e-mail substituted the use of telephone calls, memos and fax. In large-scale businesses, workflows and automated task systems are used to broadcast online operations that add speeds to interactions and increase productivity.
With phones such as blackberries and smartphones that make it possible to connect and monitor its corporate network, it is no longer necessary to be in the office at any time. This network helps respond quickly to questions that need attention but when it is out of the office.
Technology has allowed people in different geographical locations around the world to meet virtually, to communicate and seal transactions using conference call, videoconferencing and skype with the help of the Internet. In this way, the world is reduced to a global variety of improving business perspectives, talent and abilities. It also means that the cost of transport must be seriously reduced. The Internet has also given companies the opportunity to enjoy more customers since all needs are a click on the company’s website to buy an article.
With the technology, the information is stored with ease to eliminate the voltage of the paperwork. Recovery of this information is easier than if it is stored on the paperwork. It also reduces the vulnerability of confidential information using security passwords. On security, other advances were carried out using radio frequency identification technology (RFID) where microchips that store information are attached to a product. This technology allows companies to follow these products. Other companies also insert these chips in humans to improve the safety of access control readers detect them at an entrance to the door.
Like everything else in this world, technology is not perfect. Security concerns have been raised since hacking and other malicious activities are brought to life by technology. Confidentiality issues arise for those whose organizations have the insertions of microchips. Overall, the advantages that technology has brought into the business world over the negative, which allows us to answer the conclusion that technology is indeed important for the business world.