How Can Tech Help Improve Business Performance?

How Can Tech Help Improve Business Performance?
March 18, 2020

Technological advances have significantly impacted business operations for several decades and continue to change the business landscape. The benefits of technology are not limited to computer-based businesses, either. They extend to industries such as farming and health care.

As new products and applications are developed, all industries continue to adapt and improve as they incorporate these technological advancements. Smaller businesses have been able to compete effectively with larger companies by utilizing technology. Part of the reason is that many facets of a company’s operations benefit from technology.

Technology Improves Communication


Several forms of technology have improved communication within companies. Staff and managers can be reached via cell phone when off-site or away from their desks. Emails enable multiple people to receive information simultaneously, which ensures that all staff receives the same data. This eliminates communication oversights.

Companies can also use a cloud storage system to transfer documents and vital data to team members who may work in different parts of the country or world. Video Conferencing allows multiple staff to communicate directly without traveling to other facilities. Utilizing these communication options ensures efficient and effective communication with all team members.

Technology Increases Customer Accessibility


Technology has facilitated communication between businesses and their customers. Through the services of, clients are able to input vital information through artificial intelligence (AI) systems that will relay all of their data to the staff member most qualified to handle their needs. This staff will be able to immediately begin to address their query or issue without the need to gather the basic information the omnichannel contact center has already provided.

Customers can opt for different communication platforms, such as text messages, telephone, and email. Call centers can also ensure qualified personnel can be available to assist customers up to 24 hours a day. The multiple communication options and the streamlined process improves customer satisfaction and employee efficiency.

Technology Enables Efficient Review Processes


Businesses used to rely on written documents outlining company objectives. Staff would be assigned to gather relevant data that was used to track the company’s progress. Other staff would review the information that was collected and collate the data so that they could reach informed conclusions. OKR software has consolidated this process. Team members can collaborate on goals and take advantage of electronic data collection options to reduce the data collection process. This software is also able to collate information and generate conclusions based on the information provided.

With cutting edge software, companies reduce the possibility that human error and bias may impact their conclusions. Management can utilize this software to receive unbiased, information-based reports quickly and efficiently.

Technology Reduces Operational Costs

Many businesses are able to operate remotely due to technological advancements. Remote work has reduced the need for physical business facilities. Businesses that can utilize remote work options can eliminate or reduce rental fees, insurance costs and maintenance costs. Outsourcing has enabled smaller businesses to benefit from marketing, legal and human resource professionals without incurring the costs of their full-time salaries.

Technology also facilitates employee engagement. Video conferencing and file sharing enable staff and contractors to effectively collaborate and communicate as needed and exchange necessary data without delay. Technology enables employees to be more efficient and this allows companies to reduce labor costs. Drones have reduced staff costs and improve efficiency by reducing data collection and delivery times for some businesses.

Technology Expands Reach


Businesses need clients in order to generate revenue and profit. Technology has facilitated the marketing process by removing physical impediments. Visible storefronts and physical marketing, such as billboards, used to be key methods of reaching local clients. The prevalence of computers, smartphones and the Internet has enabled businesses to establish an online presence instead.

Marketing professionals can use search engine optimization marketing strategies to ensure their business ranks high when potential customers search for their business services. Google ads can be targeted to shoppers based on keyword searches and the person’s geographic location. Social media channels and newsletters can also be utilized for direct marketing to your client base.

Written By
Lead Staff Reporter

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