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As Information technology has touched every aspect of our life, people try to acquaint with latest technologies as soon as possible because of their obvious benefits. It’s not only personal life of people but technologies are complementing businesses as well. Technology is being very much crucial in almost every functionality of business. Let it be Human resource management systems, manufacturing resource planning systems, Accounting and inventory management system or customer relationship management systems. In today’s competitive business environment, you can’t just satisfy customer, you need to give them experiences they won’t forget! No matter what your product or service, who you sell it to or how much of it you sell, your business resolves around customers. Therefore keeping customers happy, making sure they come back for more and keeping them loyal to your brand are the foundations of business success. Here the technology comes with the value addition in the manner that how you differentiate and connect with customer with more efficient manner.
Today, technology gives organizations a great deal of choice. Advances in computing power and storage capabilities at a fraction of the cost two decades ago, have made it possible to choose from a number of options. For small and medium businesses, irrespective of whether they are start-ups fewer employees or large organizations, decisions based on technology need to be taken with feet boldly on the ground. Successful deployment of technology in any of business models depends on their understanding perfectly well what they need and why. Small and medium business managers and entrepreneurs are always in search of ways to leverage their resources and improve productivity. Businesses often loose time and money because of redundant efforts and processes. There is need of continuous innovation to excel in operations and execution which remains a challenge.
Technology: A benefit to business
The digital environment enhances business processes and activities across the entire organization. Disciplines work together in cross-functional teams worldwide using computer networks to share and apply knowledge for increased efficiency and profitability.
Financial experts communicate shareholder information and file required government statements online. Human resources personnel use the various systems and internet for automating recruiting, training and development. Production and operation managers adjust manufacturing based on the internet’s ability to give immediate sales feedback resulting in just in time inventory and building products to order. Strategist at top corporate levels leverages computer networks to apply firms knowledge in building and maintaining a competitive edge. Digital tools allow executives access the data from their desktops and show results of the firm’s at the click of the mouse.
It’s no rocket science that significant amount of selling happens as a result of relationships. Developing a credibility and rapport with your client is often what closes the deal. But what happens when this tried and true approach no longer works? Efficiencies and satisfaction can be gained from automating part of interaction as long as platform provides the integration necessary for a seamless transition from automation to human resource asset.
Though difficult, leaders must find a way to move to that better idea or technology, even if it threatens their base business because at the end of the day it is going to benefit the business in some or the other ways.A business supported by technology is a compliment to each functionality of organization which tries to sustain itself in the long term, including its value proposition for partners and customers as well as its revenue streams. Firms deliver value by providing more benefits in relation to costs, as perceived by customers and partners.
Technology can enhance productivity, increase sales and quickly get key operational information to management for important decision making. In addition, investing in technology is one of the better capital investments a business can make, as it can render the organization far more efficient. This expands operating margins, making the company more profitable.
Dramatic changes are seen in the world of business technology resulting in improvements in productivity. It has changed the way people work and allowed us to be more efficient in each of the process. Small business managers and entrepreneurs to large corporate, everyone has benefited from technology in one way or other.