The Importance of Technology In Business

The Importance of Technology In Company

A June 23, 2005 news release from the Office of Advocacy, U.S. Small Business Administration, says that home computer owners are somewhat more likely to be business owners than non-computer owners. This report shows that technology and computing has become an inseparable part in the business world nowadays.

The Computer Tendency – A short History

To entrepreneurship, computer owners have always taken with it in several varied areas. As a result of the increase of technology, computers along with the Internet, new systems are developed for processing everyday business activities readily. Minus the arrival of technology, regular tasks would have taken and enormous amount of specialty plus time. Undoubtedly, the computer represents the top technology development in the past century as it relates to companies now, both big and little. Improvements in the area of technology have created a vast quantity of business opportunities.

Some Statistics

In 2003, the U.S. Small Business Administration produced a report/survey that established conclusively that more than 75% of small businesses owned computers and had greatly invested in new technology. Let’s try and know the way in which they contribute to boost their productivity as well as exactly what the computers mean to companies.

USE OF COMPUTERS IN BUSINESSES

The fundamental reasons for the popularity of computers with small businesses are their efficiency, speed, low procurement cost and more than anything else, ability to handle multiple jobs with little opportunity for error.

Office Routines: Almost always, businesses loaded with the burden of the pressures of being mean and lean as well as increasing workloads, fall back upon technology for most of the administrative jobs. This work comprises, among others, inventory managing bookkeeping and electronic mail. The advent of the Internet has also appreciably given in bringing down the costs of communicating and advertising. Technology the bottom line is, has really reduced the entire cost of business operations.

New Business Opportunities: The explosion of e-commerce and Internet has opened up a plethora of opportunities for all types of businesses. New management methodologies, such as Six Sigma are not more difficult to implement as a result of statistical software. Additionally, companies can train their very own workers using inhouse Six Sigma software applications, and consequently, save money on labour costs.

It’s now possible to have many business functions operate on autopilot. It’s opened up new chances for business consultants and software development businesses. Another business trend that’s opened up as a consequence of advancing technology is outsourcing. It’s now easy to get an organization in the usa to have its data entry and client service facilities in foreign countries such as the UK. In this way, companies can service their customers 24/7.

It is not easy to think of a scenario where businesses can do without computers and technology today. It is extremely hard to say whether companies depend on computers or computers created business opportunities.

Particular strong, yet simple software has come to the rescue of small businesses in opening up new channels and reducing their tasks. Simple applications like spreadsheets and word processing helps them record correspondence and keep accounts, finances. These applications permit the users to customize other functions as well as reports to suit their particular business.

Drawbacks

Both women and men in business have adapted to new technology. However, the SBA report cites the typical decrease in ability degrees of people, which might eventually lead to an overall reduction of income amounts. It looks like folks have a tendency to ignore and get technology that is used to doing all of the work their ability development. It is up to individual businesses to make sure that their workers are still able to do critical jobs without the help of computers, if necessary.