8 Ways On How Technology Progresses and Helps in Business growth

role of technology in business growth

Can you imagine how the businesses before survived?

No internet, no emails, no telecommuting, no mobile marketing, and no smartphones. But today, businesses cannot survive or succeed without the aid of such facilities.

Indeed, technology can improve and help businesses leverage budgeted capital in effective ways. By investing in technology, be rest assured that you and your business will gain from an array of advantages.

If you are thinking about investing in different technologies of your own, then check out the list below of how technology can nurture your business much better. By reading this guide, you will certainly take advantage of these technologies more efficiently.

1. Marketing

With the help of technology, small-scale to large-scale businesses are free from the limitation of print advertising when it comes to attracting existing and new customers.

In this digital era, one of the popular and promising ways of advertising and promote your business is through the internet.

Internet marketing varies from an uncomplicated informational website to promoting on different search engines, to product sales. Also, one of the effective ways to market online is through email marketing.

Email marketing is a low cost and effective way to attract lots of people with just coupons, newsletter, and business updates. Mobile marketing is yet another method to reach a large group of people through ads on mobile apps, text messaging, and recommending branded apps that advertise your business in a very entertaining way.

To be able to do online marketing, you should utilize different software to make a marketing plan that you can easily revise, improve, and share with your team. Make use of various social media platforms like Twitter, Facebook, etc. to advertise your products and services.

You can also create a blog intended for your business and target market or a video marketing. Lastly, you can choose to advertise your business with an online or website advertising.

2. Work from Home

If you are in a business where consumers need to connect with you easily and on the go, then by having strong and durable mobile devices, clients can easily approach wherever you are. It also makes selling and shopping for high-quality products in any online stores possible. Take your cue from online stores such as DealWiki who take advantage of internet access to their potential.

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Furthermore, your co-workers can keep in touch no matter where they go. When working in contrasting time, they can easily stay in touch through email, mobile devices, and online collaboration tools.

And if they are just in the office, your employees can share digital records instantly, send reports through presentations, and design training videos to reach employees efficiently. With that said, you must first build a mobile office that allows you and your colleagues work effectively from any place.

Moreover, try to go paperless to save space and money. Just make use of your mobile device and sync it with Cloud to connect with people when you are on the go.

3. Manage finances

Managing your business finances is part of handling a successful business. However, this procedure can immediately turn into an inefficient or unproductive process if you do not have the correct technology.

But don’t worry, there are a lot of software available online like Sage One’s accounting software. With the help of such software, you can easily access up-to-date information on where your line of business stands. When selecting accounting software, consider its compatibility, ease of use, security, and integration.

4. Productivity

Before, businesses need to extract every smidgen of output and work rate out of their technology and operation tools to help the workers finish their tasks on time. This tasks can vary from printing materials for marketing to catering customer service through online chat or email.

You just have to make sure that your employees aim their attention to the task and not misuse the technology. Be strict on telling them to use it properly to save more of their time.

So, provide only productive, efficient, and effective software and hardware to your employees to keep them working at their best. You can opt to utilize time tracking software to detect what your employees are doing. As such, you can know if they are productive or not.

5. Make Smarter Decisions

By using any business intelligence platform, you can certainly make smarter and wiser decisions for your business. Thus, if you have a huge amount of data, it does not automatically mean that it cannot be great for your business.

Business intelligence software authorizes you to analyze and organize all data points that structure your business. It includes pricing data, sales reports, and supplier contracts. With the help of these technologies, you can easily identify crucial details about the company that gives you significant outlook on your company’s status.

To sum things up, business intelligence software takes the staggering amount of data your business produces everyday. Then it extracts it into small insights that you can utilize to find out the health of your company.

6. Minimize communication costs

For sure, communicating over the phone is one of the easiest teleconferencing methods. However, the innovation of technology in the last years have made web conferencing the most effective and productive way to communicate with different people in different locations.

There are a lot of free services online like Skype that allows you to discuss and disseminate information about the growth or status of the company. Through webcams and clear audios, you can see and work together with your colleagues wherever you are. It can also help you reach and attract global workers and customers to your business.

7. Streamline Invoicing Costs

Of course, businesses spend money just by giving invoices to customers or keeping a close eye on expenses. By having a powerful and effective system, you can potentially streamline your business’s invoicing costs.

Make use of any online invoicing services to minimize the expenses of gathering payment from your customers. You can also utilize a budget tracking service online to help you manage and reduce your expenses.

8. Customer Service

Indeed, technology makes businesses attached to their customers. Some companies utilize email to allow customers to send some feedback and answer their inquiries. Just make sure that you equip your employees with high-quality equipment to be more efficient at work.

Provide different options or ways to your customers to connect with you. You can opt to use different social media platforms like Facebook to administer customer service. You can even make use of questionnaires and online surveys to get customer feed backs easily.

There is no denying that technology plays an important role in the success and development of any business. Innovations and modernization in technology have enhanced and upgraded businesses and turned them into a global success.

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