Technology has played a major role in revolutionizing the way business activities are carried out today around the world. Software engineers working in Asia can help small businesses in the United States to develop creative websites for them without being physically present at the firm. Businesses need not dedicate separate rooms for supercomputers or high-speed servers to host their enterprise applications. All these functions can now be carried out on the internet cloud. The major benefit for the business industry lies in cost and time savings that they can achieve using modern technology in carrying out their daily tasks.
The constant changes in Information Technology require businesses to keep up to date with the latest trends in the market. Both hardware and software technologies have evolved over time. Initially, the personal computers were connected through hard wires including telephone lines and coaxial cables, then came fiber optics technology that increased the data transmission speed by many folds. Finally, wireless technology was introduced which allowed internet satellites to transmit data from one part of the world to another within few seconds. All this has helped to introduced globalization and remote workplace management.
Businesses cannot operate in silos any more thanks to social media marketing. The interconnected world that we live in today can broadcast every single activity or customer experience within seconds to the whole world. The concept of customer service is not the same anymore. To attract potential clients and retain the current ones, companies need to emphasize their presence on social media pages like Facebook, Twitter, and Instagram. Anyone looking for a product or service from within or outside of the country will first check the provider’s reviews on social media pages before doing business with the company.
Cloud services have changed the way data is stored by businesses today. Businesses whether small or large can keep all their confidential data on the cloud. Many of these online data warehouses are managed by companies like Amazon, Google, and Microsoft. Therefore, security is not an issue. Most of the times, these technological giants are competing on the price to attract more clients towards their cloud hosting service. Cloud computing helps small business and many large corporations to save space and spend a minimal amount on their databases.
As more and more businesses incorporate technology into their business model, there is more data floating on the network than ever before. Although cloud services help companies store a large amount of data, there are specialized analytical tools required to analyze millions of rows in a database. The big data technology allows businesses like banks and large shopping centers to analyze customer trends and tailor their products according to customer requirements. Having an in-depth knowledge about their customers helps businesses to stay ahead of the competition and provide the best quality product and high-level service to their clients.
With so much advancement in networking technology, many businesses allow their staff to work from home when they cannot make it to the office. In fact, some of the leading companies in IT, consulting, and in many other sectors ask their employees to work from home or any remote location once a week. For some, it is quite efficient as well since they can focus on a specific task without any social interference. All this is made possible with the help of wireless networks that provide high-speed internet anywhere at any time.
Remote access technology allows IT firms to provide personalize software and hardware technical support to their clients. This is done by remotely accessing the client’s PC form the company headquarters and resolving their software and hardware issues in real time. There are many remote desktop applications available in the market that monitor client PCs all the time for any error message or alarm signal. RemoteToPC is a great example of remote PC access software that allows service providers to monitor their client PCs from any remote location. The software helps in monitoring processor usage, and hard disk or RAM utilization as well.
To remain ahead of their competition, businesses now must focus on mobile technology also. Customers nowadays want to stay connected with the service provider while they are at home, driving to work, or vacationing with family. Therefore, any business that has a website on the internet should a have an application for a smartphone as well. In fact, many customers now prefer using smartphone apps rather than going on the provider's website. Banks allow customers to check their account balances on their smartphones and courier companies allow senders and receivers to track their package using a smartphone application.
A customer relationship management system or a CRM allows businesses to focus on building a strong relationship with their client. The CRM software allows businesses to track every aspect of their service including orders for raw materials, delivery timelines of the final product to customers, their spending pattern and other .
allows businesses to cut their telecommunication costs many times. Analog signals from a telephone or a smartphone are converted into digital packets and sent over wireless networks to save costs and introduce different services like automated voice messaging, and call transfer. It helps small businesses provide the best possible services to their clients at most affordable rates.
All these technologies have given rise to the concept of remote workplaces and helped in increasing the overall efficiency of businesses around the globe. Small firms should allow their accountants to work from any remote location to manage their company books using online accounting tools. Global conferences are now taking place online as well. Doctors or engineers do not have to travel all around the world to attend seminars or industry conferences, they can attend the ‘webinar’ while sitting in front of their computer screen. Companies having their branch offices abroad can pay their employees through online transfer.
Eventually, the distance between two locations is measured in terms of internet miles rather than physical miles. To stay ahead of the competition and reduce costs, companies of the future will need to keep them self-update with the networking technology and provide highest level of customer service to retain existing clients.