The need of technology in business is growing day by day. As the time passes, the business is becoming more and more dependent on technology. And now it has become almost impossible that we separate the things, technology & business. It is believed that business needs technology to sustain it. The role of technology in business is growing tremendously. Trade as well as commerce is dependent upon technology.
When Technology was introduces in the business concepts, it has brought a revolution in business and models. Technology has provided us with a new approach about how to do business. You can made business transactions more easily, faster and with more convenience.
Some roles of Technology in business:
Some roles of Technology in business are given here which include: accounting, easy transactions, management of IT system, and many other complicated tools. Role of Technology in business varies from the simplest tools to more complicated jobs. For example, we can say that calculator is also a simple Technology which is used widely in business operations. Some of the operations are discussed below:
Reduced efforts: Before some time, everything was done manually and it required a lot of effort and struggle. With the help of Technology, now it is possible that you can have a more approach in the global market. Internet plays an important role in expanding the business because with the help of internet, you can make a lot of customers online. It is considered as an online marketing tool which will attract more customers online towards the products and services offered by that business model.
More profit: Information Technology has increased the efficiency as well as the output of any business. Now the modern technology has taken the place of the conventional ways of business with the development of new Technological tools & equipments. In addition to these Technological tools and equipments, Information Technology has also introduced many new things for example E-commerce.
More productivity: Technology has also increased the productivity of any business. With the help of using Technological apps, such as balance and spread sheets, word press & designing, rational database and management system (RDBMS), and other software’s, all these applications increase the productivity of the business.
Better monitoring: with the help of information Technology, you can monitor business programs; you can also check that who is not efficiently using the resources of company. We explain this with the example of Dell, this is a great invention that will produce only those supply of computers which are actually demanded by the customers. In this way you can prevent any overproduction of the computers.
Management of business operations: with the help of information technology, a company can easily manage the operation performed in his company. You can manage the business and this is known as management culture. A person can analyze the performance of his business operations by using some analytical tools. Some examples of this management system include analytical processing and information system.
So we can say that technology has become the basic growing need of the hour for any business. Without technology, no business can flourish well. That’s why business need technology.