Effects of Technology on Business


COMMUNICATED CONTENT – We cannot deny the use and importance of technology in our lives today. Technology has changed the way we do everything and our perspective of looking at things, including business.

Businesses existing today won’t survive if they don’t opt for technology as their guru. Technological devices, software development, software support services, services outsourcing, online advertising all this and many other aspects of technology can give your business an upper hand among the competitors. All the businesses, whether small or big, are at a point now where it is impossible for them to run their company if they don’t outsource software development company to use technology for better business operations.

If we look at the effect of technology from afar, then we will see that it has made the business world very efficient by all means. But, if we get a little closer, we will realize that even though technology has immensely made the businesses better, it has also brought some drawbacks. This is why we have decided to discuss the effects of technology on businesses. The effects which we are going to discuss will have both advantages and disadvantages. 

Five evident effects of technology on the business world

  1.     It can bring people together but can also tear them apart: there is no doubt that technology is indeed a double-ended sword. It makes communication between co-workers, staff, businesses and clients easy with the use of email and chat. But, it can also create misunderstandings and cause miscommunications between people. Social platforms can be disrupting, and they can also never replace the interaction which happens face to face when real, meaningful actions are to occur between a client and your business. 

For example, let’s take the HR department: in this department, the technology can streamline many advantages and solutions for storing and scanning the applications to increase efficiency. A computerized application form can’t determine what a face to face meeting can, i.e., helping your representative whether the person you are about to hire is worthy or not.

  1.     It helps to organize the information but will need to be familiarized with first: undoubtedly, technology and computers store and organize information in a better and faster way than humans ever could. You can pull up a file of profit and loss in a second from two years ago on a computer. But you can find the same file if it was buried somewhere in the pile of papers in a second. Having technology and computers at your disposal is excellent if the person who is entering data is familiarized enough will all the tech and computer stuff because no business can afford to have information stored in a computer, which is wrong. 

 

  1.     It saves money, but at the same time, it also costs money: technology saves a lot more than money for your business. It saves time, energy, resources, and money. If it takes one hour to file a report manually, then it will only take about 10 minutes to file that same report via computer. The technology also keeps all the data up to date so that you don’t have to do all the work yourself. However, the cost of software support services, computers, and training employees to use the technology effectively can be expensive. These expenses can be more costly as compared to the money you save.

 

  1.     Tech makes customer data storage better but increases security concerns: most of the world is working on the basis of the internet, and all the essential information is now saved on the internet. Now, this raises the issue of security because there are many people who have found ways of a data breach. Just like in many other fields, criminals have found loop holes to steal and do illegal stuff. When any business (especially the online ecommerce websites) takes or collects the date of their customers; they are practically putting all their customer’s personal data at considerable and huge risk. It is true that the data will be stored on the internet and will be available with one tap but, it will also be accessible to the hackers who have become so advanced that they can hack into the most secure systems.

 

  1.     Speed up the process of work but at the same time destroys the jobs: the worst thing which happened because of the advent of technology was that machines became smarter and more important than humanity. Business owners started to prefer machines over humans to do the jobs, which led to unemployment. Machines, as compared to humans, require less money (if you correctly use machinery, it won’t require maintenance at least for the first five years), but humans required salaries to be paid every month.  

There is no doubt that technology can speed up the work process and lessen the number of the workforce, but then it also takes away people’s means to achieve bread and butter. The people who are displaced because of machinery are not taken care of by anyone.

These were some of the most evident effects of technology on the business sector. In this article we do not mean that technology is a bad thing. We only mean to convey that technology should be used in the right way so that it doesn’t hurt the very people who created it.

 

 



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