Categories: Business Tech

Role of Technology in Business

Today, technology is involved in every field.
Among them, the business sector can be pointed out as a sector that has undergone a powerful technological revolution.
So much so that technology is involved in business, from the production of a product to the marketing, to finding a buyer in any area of the world.

So if you are also a businessman, “What is the Role of Technology in Business?” Is something you should want to know.

In this blog post, we are going to cover the role of technology in business.

What is the Role of Technology in Business?

The role of technology in businesses goes hand in hand with manufacturing, marketing, accounting, business communication, and information system management.

5 main role of technology in business:

Reduce costs
Increase profits
Increase foot traffic.
Improve the quality.
Increase productivity of staff.
Makes communication easier

1.Reduce costs

How can technology reduce costs in a business?

Technology has helped reduce costs by reducing the amount of time spent on unnecessary tasks, as well as automating the use of robots for various business operations and reducing the risk of human error.

2.Increase profits

how does technology increase profit of a business?

By reducing costs and improving the efficiency of the business as well as providing the opportunity to communicate well with customers, technology contributes to increasing the profitability of a business.

3.Increase foot traffic.

If you do not know what is foot traffic, Foot traffic is a term used in business to describe the number of customers entering a store, mall, or location.

Technology helps to increase foot traffic by being able to reach out to consumers through social media such as YouTube and Facebook, as well as applications such as Google My Business.

4.Improve the quality.

Improving the quality of a business means improving products and services that meet or exceed customer expectations.

Traceability is the ability to explain all the processes from raw material procurement to production, consumption, and disposal “who the manufacturer is, when and where it was manufactured”.

With the increase in health care concerns in recent years, the Traceability System can be cited as an example of an improvement in the quality of a product with technology.

5.Increase productivity of staff.

How technology can increase efficiency in a business?

The efficiency of the business can be increased by applying technology to existing manual systems and replacing old technologies with new ones.

For example, using modern computerized applications can save a lot of time rather than using a manual system for collecting customer information and billing.

6.Makes communication easier

Another powerful example of the role of business in technology is the revolution in communication in the business world.

How technology has changed business communication?

Technology has changed business communication by using video chats, presentations, and emails for various business operations.

For example, today technology has transformed to the point where it is possible to connect businesses and customers live from home within a few seconds.

‌Conclusion

In this blog post, we covered the Role of Technology in Business.

Examples of the Role of Technology in Business include reducing business costs, increasing profits, increasing foot traffic and improving quality, increasing staff productivity, and facilitating communication, etc.

Comment below on examples you know for the role of technology in business. 😉

Thilina Chathuranga

I'm Thilina chathuranga. I write about businesses, Google my business for dollarroute.com since 2019. I'm 21 yrs old and I started my journey as a freelance logo designer and blogging is my hobby right now.