Technology is actually a broad sort of concept that has come to mean breakthroughs in science that will allow for an automated or better solution. The most obvious benefit of technology when it comes to businesses is an increase in productivity and this translates to a lower cost structure. However, there are other benefits that can assist with the bottom line too, such as a decrease in human error due to automation, easy sharing and storing of information, and improved speed. These can add up to a reduction in costs for any business, which in turn will mean an increase in revenue.

technology-business

IoT

One of the features just mentioned – the easy sharing and storing of information – depends quite a bit on the IoT, or Internet of Things. This can be defined as a network of physical things that is embedded with software, electronics, sensors, and network connectivity, that enables these things to collect and exchange data and information.

IoT projects can be very helpful but if you don’t know where to start, you could be in for a bit of trouble. That is why there are companies like Fathym who can help you scale your ideas with their sophisticated solutions for IoT technology.


Networking

If you want your business to be successful, one of the things that you will have to do is networking. Now, before the technological era, this was mainly done by handing out business cards and cold calling people and or businesses. Now, this is so much easier to do. Even the most introverted people can now successfully network through the social media channels. You can talk with other business owners and people of influence in your niche right on Facebook, Slack, Twitter and more. This allows for a relationship to be built in an environment that is secure. Once you are more comfortable, you might consider meeting your network in person.


RFID

One technology that is beginning to revolutionize business has actually been around for some time. That is RFID – Radio Frequency Identification. It wasn’t used too much in the past because of the high cost, but now that cost is becoming more manageable. This technology is changing business in a few ways. One way is to attach microchips that are used to store information to a product to assist the company in keeping track of inventory. There are also businesses that have started to use the RFID implants in their employees in order to make sure that their security is top notch. Something called an access control reader will detect a signal emitted by the implanted chip and then allow the employee to open the door to get inside the workplace.


CRM

Customer Relationship Management systems are used to track a customer throughout his entire experience with your business. From the instant that you get information about a customer, these systems will track each of their interactions with you. When a customer calls to either request service or order a product, or even if they call in with a technical question, your CRM system will let the service representative know right when any items were shipped, whether or not something is back ordered, and anything else that the customer might have discussed with your company. These types of systems assist in building relationships with your customers because they assemble all of the information collected from your customers in one easy to use place.


Productivity

There are all sorts of tech that can be used for productivity. You can use time tracking software so that you will be able to see where your time is being spent so that you can be more productive. If you use a digital dictation software, you will be better able to streamline your work. There are project management and even task management tools that will help you to stay on target with your daily responsibilities.


Technology is everywhere we look these days. While some of it might seem to be a bit confusing at first, it is all there to help you get through the day easier. When you use technology in your business, everything will become more streamlined and better managed.