How Technology Is Changing Business

Technology is only becoming more advanced and the pace that it’s evolving at is only getting faster. It’s already changed business significantly enhancing the way that companies and organisations communicate with consumers, improve products and services, speed up business processes and access data. Innovations such as cloud computing, CRM and the internet of things are just a few examples of technology that have dramatically changed business.

The invention of these technologies is only making the way businesses work more efficient, productive and profitable, which is desired by all companies and the reason for adopting these innovations. However, even though the impact of technology is only positive the hardest part can be adapting to the change that they bring when implemented.

Here we outline the main technologies and how they’re changing business but more importantly, we discuss how to manage the change.

Cloud computing

The cloud computing concept has fundamentally changed the way we work and communicate. The cloud improves operations by giving businesses more storage space and scaling with the needs of the company. It offers more flexibility by allowing employees to work from home or whilst commuting increasing productivity. There have been concerns over the security of data that is stored on the cloud but cloud services are stepping up and constantly improving their security in order to eliminate this worry.

Ultimately, cloud computing has increased productivity in businesses with services such as Google Drive allowing employees to connect through the cloud and work on documents or spreadsheets at the same time.

Mobile technology

These days consumers want everything at their fingertips and smartphones have become more than just gadgets they have become an integral part of everyday life. This has shaped the way that consumers access and purchase services and products and in turn, has impacted the way businesses work.

Companies have been leveraging this technology to improve customer loyalty by providing an uninterrupted connection between the business and its customers. Mobile apps are also enhancing customer engagement by offering a personalised experience to customers and allowing the customer to connect with the business 24/7.

Further to this mobile technology is improving businesses marketing by allowing the business to directly communicate with consumers about new product or service launches through push-notifications and in-app purchases.

Video technology

A huge change that has swept the business landscape is the way that business personnel is communicating with each other and this is primarily due to the rise of video technology.

The way that businesses conduct meetings conferences and communicate ideas within teams has changed due to video conferencing technologies. It’s becoming more common for employees to work remotely and for businesses to work with teams and partners that aren’t within commuting distance. The solution to this is webinars, hangouts, and high definition video technology. Due to this demand for one-click communication small and large organisations are using video calling software to connect with customers, partners, and teams.

The Internet of Things (IoT)

The IoT has well and truly made its presence known across the business landscape and has already transformed various industries. Its development has enabled businesses to access more data by tracking and recording behaviour patterns meaning they can refine their targeting and better connect with customers. Predicting trends and phenomena has also become easier with the IoT especially within the retail sector. Companies can collect and analyse data from social media, mobile and internet usage to accurately design products and services to suit.

Smart speakers are being introduced into workplaces to help employees manage their time and schedules and automation is taking over repetitive, mundane tasks so that employees can focus their efforts elsewhere fundamentally increasing productivity and efficiency.

How to manage these changes

Although businesses are eager to implement these technologies into business proceedings, business leaders are facing challenges when doing so. Adapting to technological changes is not always easy and can be increasingly difficult within large organisations.

A major change in an organization never comes without obstacles. There will be questions and doubts and although there will be early adopters there will also be laggards. The key to managing such a crucial change is to create an overall effective strategy that considers everyone that will be affected and delivers the business change to all equally.

A business change consultancy will take the risk out of the business change as they create an innovative strategy and focus on the people of the company by preparing and equipping them for the change journey. 

Employees are the most important part of a business and without their skills, expertise, and support the business cannot grow and this is why they are crucial to the change management process and it’s important that they are properly equipped in order for the change to be successful and stick.