New forms of technology have improved business processes. Some of the aggressive innovations include the artificially intelligent virtual assistants and multiple application programming interfaces (API) that enable robust ecommerce, collaboration, and other benefits. They enable the creation of customer-centered services while reducing the workload on a company’s staff members. For instance, the use of Trello boards, reminders, and computerized mailing systems eliminate the need of strenuous work or assigning more employees than is necessary to perform automatable tasks. Geography-agnostic co-working has been enabled by the use of collaboration tools such as Slack and GitHub among others, which remove boundary restrictions between talented employees in different cities or countries, enabling the delivery of high quality services to customers. The manner of making the public aware of the services and products offered in businesses can be done online where technology tools such as websites and Android applications can be created to offer personalized service delivery enhancement. Technology in business has enabled massive improvements in productivity and quality while time-saving and cost lowering has been a major achievement (Warschauer 2013). The advances in technology bring tremendous benefits to a business and need to be adopted in order to increase profit and efficiency in service delivery. This paper includes a discussion of the advantages and disadvantages of their integration into business processes, as well as their applications.
Business Communications
Innovation in technology has reduced the cost of business while increasing goal output efficiency. Collection of views and information is done through better communication channels. Businesses have embraced the use of technology in communication via online platforms such as Skype. Video conferencing during scheduled meetings is conducted in the comfort of staffs’ respective offices (Boitnott 2018). Most businesses have opened stores and branches overseas and traveling to the headquarters is a long journey that requires an investment of time and money resources. Upon the innovation of online services that can offer meetings with partners from different locations in the world n real-time basis, the cost has been cut (Hanly 2018). The internet of things (IoT) has enabled outsourcing of employees from abroad who do not need to be physically interviewed but perform online interviews and tests prior to recruitment. Such employees are allowed to work and their acts within the business are monitored by the use of technology where everyday reports and updates must be met (Dunning, 2013). However, the development rate of business communication tools has accelerated beyond the market needs and choosing the right platform is difficult for any enterprise.
Self-Service Facilities
Technology has enabled customer comfort in self-service facilities and tools. Banks and restaurants have implemented machines with integrated software that generates receipts and tickets for services requested by customers. The banking industry has eliminated the routine of queuing on counters waiting to be served. Currently, customers take tickets as they enter the bank and wait on the seats for their ticket numbers to be called and directed to a counter number for a service requested (Web.mit.edu. 2018). Apart from the banking industry, restaurants and kiosks have installed systems that help customers to get receipts for the services needed or food to be served where receipts are generated and issued to customers for presentation and payment at the cashier’s desk. Through such a process, the system sends a signal for the requested food or service and the responsible attendants available start processing/packaging the requested food before the customer completes making payment (Acante 2018). Immediately after paying for the receipts, the requested food or service is made ready for the customer hence reducing waiting time in long queues. Customer comfort and freedom are allowed since one can generate more receipts depending on the items needed (Zhi 2018). On the other hand, human interaction is essential. The wide adoption of self-service tools limits the chances of making new friends for both employees and customers, thus inhibiting the benefits of social interaction.
Boosting job efficiency and productivity in knowledge-intensive sectors
Productivity and efficiency are the centerpieces of the adoption of advanced technology. Healthcare is a service offered to every individual despite the age or race. Different ways of delivering medical services have been improved by technology. Chronic diseases testing and analysis of progress reports can be done by patients upon being issued with gadgets that can be used to perform the diagnosis (SiliconANGLE 2018). Diabetes patients have been issued with devices that can check sugar levels and pass the information to medical practitioners who can send the medicine to a patient of the issue to a representative collecting the medicine. The idea of having patients visit hospitals on regular basis has been reduced by the use of technology where checks can be performed by a patient and information sent to respective doctors (Allen, Tue 18 Aug 2015). Patients suffering from chronic diseases have been attached to devices that can send a signal to healthcare providers when situations become worse. Such devices can be attached to the hands where pressing of a button alerts a doctor and an ambulance can be assigned to pick the respective patient to the hospital. Through such ways of offering service, the productivity and efficiency of handling issues and responding to emergencies have been made better with technology. The disadvantage is that automation of services and the use of non-human agents has relegated the need for employment, thus rendering workers jobless in certain industries.
No Missing of Information
Using the internet technology such as chat rooms and other communication tools have enabled a platform where business shareholders cannot miss crucial information since they can get connected from different locations and receive the exact information presented even without being present in meetings (Hanly 2018). The fear of missing the annual general meeting due to the lack of quorum has been wiped out by technology through integrated systems that can make everyone present. Postponing events has been set in the past while technology has facilitated scheduled events to take place with or without participants being physically present. The major important aspect is to get the information discussed that can be done through set chat rooms. Despite solving the problem of absenteeism, chat rooms fail to make staff meet in person for a better understanding. When messages and explanations are exchanged over the internet, the real people may require to face one another and have a face-to-face interaction that creates a strong bond among the staff (Küng 2013).
A Link to the World
Making businesses complex is involved in business, transportation, communication, and other fields. Globalization is realized by the implementation of technology in businesses where people from various geographical regions deal with each other without restrictions (Barr 2018). A wider reach has been enabled by technology where surfing on the internet can result in multiple solutions of businesses offering a particular service or product. Under such chances, a better business price and quality of service are chosen where shipping can be done or remote working for service delivery where assistants can perform delegated duties while connected to client database via the internet (Drnevich, and Croson 2013). Despite making use of technology to market businesses widely, aspects of hacking and cyber attacks are prone (Baden-Fuller, and Haefliger 2013). When hackers get into a system, they fraud business finance and evidence cleared to make investigation complex.
Technology is Time Saving
Businesses replenish inventory or stock to avoid stock-outs. During periods when staff is assigned field work, they get less time to keep track f the physical stock count after every business day. Due to the systems used to record transactions, stocks are updated every time a transaction is recorded hence accessing such sheets from anywhere via the internet makes it easier to save the time a worker may spend getting to the office to make orders for ingredients or stock (Kent, 2014). The time saved helps business operations to run without experiencing delays or downtime during emergencies or urgent orders requested by customers. Despite the time saved through the use of technology in accessing business transactions from anywhere anytime, employees may commit themselves with other activities of personal interest making it difficult to accomplish essential tasks. This is a negative thing because it wastes useful business time at the expense of the employers and customers (Aiouaz, and Gao 2013).
Technology in Saving Money
Businesses are managed under the production of documents such as cash receipts, invoices, debit/credit notes, and official letters. With the use of technology, letters have changed to the use of emails sending while hard copy documents are electronically generated and sent to respective recipients without making use of paper. The cost of purchasing paper in businesses has been reduced due to the use of electronically generated documents that can be sent and received by intended parties without printing many copies as before the innovation of technology (Vitez 2018). Receipt confirmation of such documents sent via mail is through a response email from the receiving parties. Arguments about lack of original signatures on specific documents that are electronically sent may lead to personal liabilities and issues regarding specific items arise. For example, communicating sensitive or urgent messages to clients or other business related associates may require physical delivery (Panzone 2013). Under such cases, the time wasted in waiting for an email response and the cost saved may result in business’ big losses dissimilar to the same message being delivered in person.
Businesses make advertisements posted on billboards and some air through television or over the radio. The current period is where everyone makes use of social media in getting information and other updates about new products by various providers in the market. The social sites encourage the use of doing business by creating pages that can help to spread the news about a brand. Getting to social sites is relatively cheap and can save much money for the business in making adverts, for instance, it may cost so much money to post billboards where a few people may have the opportunity to read the information (Foster, Foster, Sheetrit, Sheetrit, et al. 2018). Other means such as radio or television has a limited audience while posting on social media offers a great chance since the information can be retrieved any time provided the post is not pulled down or deleted due to management instructions. Using technology in making online adverts enables businesses to cut marketing costs that lead to a higher profit realization since saving is done (Buschhorn, and Vogel, 2014, May).
Conclusion
After analyzing the ways technology has positively impacted businesses, the current business world is performing better due to the technological advances. The role played by technology in business is big and every company or industry is targeting to make use of the latest technology due to improvements in the existing systems and software. Job creation and improved communication guarantees business a deal in getting in touch with more clients who increase revenues through more purchases (Bsyhnews.com 2018). The speed at which transactions take place within businesses with the help of technology is high hence the increased efficiency enables customers to create confidence and trust in trading with businesses running on the latest technology skills and equipment. Advances in technology have brought more benefits to business than harm issues such as hacking and cyber attacks can be prevented by implementing of security measures and hiring experts to watch malicious attacks into the system.
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