Go back 200 years if you will to the Industrial Revolution. Let’s say your company was a maker of clocks. Before industrialization, your business would take three months to put together one clock, because everything was individually handcrafted.
With the addition of factories, the assembly line process, and cheaper mechanized parts for clocks, your company could produce hundreds of clocks a day. What was formerly a luxury only the very wealthy could afford became a necessity in the working man’s home.
That’s the benefit of technology. It improves productivity, saves labor, and overall makes everyone’s life easier. Even better, this is still happening all over the world as technological advances increase exponentially.
How Technology Can Improve Your Business
Any aspect of your operation can be improved by some new technological development. Break your business into its component parts: HR, IT, Marketing, it doesn’t matter, there’s technology out there that you can reap the benefit of.
If there is any area of your business that generates tons of paperwork, it would be your HR department. Your company needs to comply with laws regarding workingmen’s compensation, taxes, and 401k deductions.
You also need to keep track of time off, leave, and vacation. Compensation and benefits also fall under HRs purview. There are platforms now that allow you to explore coverage options for your employees. It saves your HR staff time so that their days are freed up to take care of core tasks.
For several of the HR functions listed above, there are time and labor-saving technologies you can invest in that your staff will thank you for.
If it’s one area that has risen to the challenges of the last year and a half, it has been your IT department.
Your IT department transitioned everyone from the physical office to home, barely missing a beat. They couldn’t do this without several advances in technology.
Meeting technology, for example, has come light years from where it was as little as five years ago. You can now speak to someone in the next city, state, or country with Zoom and Microsoft Teams. This cuts down on time spent getting to physical locations as well as money for travel.
Cloud technologies have also contributed much to making the new virtual and remote work environments possible. Vital work documents are no longer stored at one physical location. All of this can be uploaded to the cloud for anyone at your company to access once they have the right credentials.
Your company benefits because both technologies increase the level of collaboration at your company. Innovation increases as a result.
If your business is old enough, you can probably remember the bad old days when once you weren’t one of the bigger players in your market, it was tough to get attention. If you couldn’t afford expensive ads in legacy media, then you might as well have been invisible, and this had nothing to do with the quality of your product. It was just the way the system was set up.
The advent of the Internet itself and later, social media, changed all of that. Marketing departments can now curate and grow audiences with specially created content for pennies on the dollar. You could grow a following and cut out all the gatekeepers that hogged access to them.
Because your following is increased, you have an opportunity to convert those to actual sales. Technology has come to your rescue here as well. There are a number of email marketing tools that you can now leverage to deepen your relationship with your following and bring them into your sales funnel.
Getting the word out about your products and events has never been easier, as you can create cheap ads on social media and create settings so that only people in your specified demographic see them. It cuts down the waste of mass media and saves you money.
Logistics And Distribution
If your company has a fleet of vehicles, you would have benefited from advances in fleet management software. There was a time when fleet managers would have to physically check the stats on each vehicle at the end of every day. Then they would have to compile monthly and yearly logs to keep track of performance, gas consumption, and other metrics. They would never really know where the drivers were at any point in time.
All of that has changed. Tracking software automatically logs all of this data and stores it in an easily accessible and readable form. It cuts down the human error and allows companies to make better financial decisions regarding their fleets.
Technology is therefore a friend. Rather than resist it, reap all these benefits it can provide you.