The role of technology in business

For every transaction completed online, businesses are vulnerable to attack from hackers who send malicious worms, Trojan horses, and viruses to programs all in the hopes accessing sensitive, valuable consumer information, and when they are successful, hackers cost businesses into the millions of dollars per incident, not to mention the loss of business and reputation.

To get the signature expeditiously, the administrative assistant arranges through FedEx for the document to be delivered, signed and returned. A Link to the World Business involves communication, transportation, and more fields, making it a complex web of processes.

Even better for the environment, an office could essentially become paperless because of the various ways in which information is communicated to everyone, primarily via e-mail.

Globalization has been realized because of the wonders of technology. In this way, they can disseminate any type of information they want with just the click of a mouse. Other Screens Phones are not the only high-tech communication devices, of course. Innovation breeds business, and since technology paves the way for it, it can be gathered here that business needs technology to be sustained.

Security and Support With the automated processes that technology can provide, productivity reaches a higher level. Even the calculator is a product of technology. The company can also save money through the process of using technology to monitor marketing, promotions and other types of activities, through features like online surveys regarding a specific product or the general services rendered by such a company.

Business communication, in particular, has seen some of the greatest advancements due to technological developments. It cannot be denied though that technological threats to business are growing rampant, such as hacking and other malicious activities, so one has to be responsible enough in utilizing the power of technology.

Over time, this can help a business advance monumentally. This scenario illustrates the evolutionary role of technology in business. The advantages of technology are plentiful. The speed at which a computer is able to access information doubles about every 18 months, and Internet connection speeds are doubling even faster.

The said information can also be instantly retrieved and analyzed to monitor trends and make forecasts, which can be crucial in decision-making processes.

What is the Role of Technology in Business?

From marketing to security, most business operations start in the digital world. Tracking success and opportunities is also simplified by using software designed to store marketing metrics over time.

In the fast-paced environment of business operations today, technology makes processes quicker, more effective and easier to document for future review. Practices that include drive and data encryption, front-end firewalling a network, two-factor authentication, and systems that perform routine backups provide layers of protection from would-be hackers.

For multinational companies, this is even more pertinent due to the fact that it simplifies the process of reaching out to international customers without even having to resort to routing the information through the subsidiaries.

With this, confidential and sensitive information are less prone to vulnerabilities. Digital data collection eliminates some of the fact-checking businesses must do to combat typical human error, again allowing decision makers to act quickly and confidently.

Accounts payable departments have also reduced fraudulent activity as a result of technology in business. Role of Information Technology in Business by Joanne Cichetti - Updated September 26, Information technology is all about storing, manipulating, distributing and processing information.

As the years go by, the business world is leaning more and more toward it, making it almost impossible to separate the two from each other. This scenario illustrates the evolutionary role of technology in business. Teleconferencing can save substantial amounts of money otherwise spent on travel by connecting important employees in far-flung branches together to share ideas and information.

What Is the Role of Technology in Business Communication?

Whatever device a business person carries, it facilitates verbal, text and image communications. Some of actions of technology in business include accounting systems, management information systems, point of sales systems, and other simpler or more complicated tools. Business concepts and models were revolutionized as a result of the introduction of technology.

Websites allow customers to find answers to their questions after hours. Because of the way businesses are now growing and developing, IT experts are needed to ensure operations are running smoothly, particularly for web-centric companies.

This progress has translated into billions of dollars circulating around the world, sometimes in a matter of minutes. Significance Business corporations maximize their commercial advantage by making the right use of IT tools.The advantages of technology are plentiful. Key factors that have transformed business include technological advances in communication, financial, and security technologies.

Communication. In just communicating with people, technology has transformed the business landscape in so many ways. Sep 17,  · Technology can play several roles in business. 1. Productivity increases when data processing tasks can be automated.

This allows businesses to server more. A prime example of how technology has redefined business operations can be seen oni the use of social networking sites by advertising on YouTube, Facebook and Twitter.

“The rate of change in technology is as much today as any time in my experience,” says 40. The role of technology in business communication has never been more vital to nearly every aspect of a business than it is now.

Small businesses have the options that they never had before, and it’s making managing a fledgling business that much easier. Business technology enhances accounting procedures and recording of financial documents and improves inventory management.

Technology in the workplace also improves the efficiency of recruiting, screening and hiring potential candidates.

What is the Role of Technology in Business?

Another importance of the role of technology in business is to provide security to a business. The importance of technology is that it has provided the business community and its consumers with the convenience of transacting business safely.

However, its importance is most readily apparent in the billions of dollars transacted daily and globally.

The role of technology in business
Rated 4/5 based on 24 review