Technology has had a positive effect on business in recent years. A businessman benefits from technology on many levels: It increases efficiency, culture, and the relationship between the business and its customers. With an integrated approach to technology, information is more secure, and commerce benefits are improved. Let’s discuss how technology helps in growing a business in these modern times.
Communication and contact tools
Advantages
The ability to communicate with others is a boon (or a curse, depending on your perspective) of technology. Businessmen and women can stay in touch with their employees and business partners via telephones. Not only that, business people can also communicate with clients and other business partners by using video chat software like Skype, Video Chat. Important business conferences are now being done over the internet, allowing more people to attend.
Team leaders and employees can share files, upload links, or stream content to make sure that everyone is on the same page. Contact Management System like ContactBook saves contacts, documents, and data on an integrated cloud system. This makes collaborating on a project easier as anyone can access the required files later.
Disadvantages
Communication by means of technology can be detrimental to workplace productivity. Over the past decade technological advancements have led to a significant increase in communication between employees, business staff and management through various methods such as instant messaging and video chat.
However, some professionals contend that such reliance on technological communication has led to a decline in face-to-face interaction and direct communication among employees. While the employees are in their offices chatting using technological software, managers are unable to hold effective meetings and confirm that projects are moving along. This leads to poor productivity in the workplace.
Advertisement Tools
Advantages
Technology can provide creative techniques for promoting businesses of all sizes. These techniques allow businesses to expand and generate large profits. Digital advertising allows you to monitor and track the results of your ad campaigns. You can determine when a lead converts into a sale and which ads are working best for your demographic.
For example, social media allows for promotion on an international scale. Technology allows for continual growth and creativity in the business world.
Because of the difficulty in tracking both traditional and Internet advertising, it is hard to get a good feel for how many people see advertising of any kind. However, individual visitors can be tracked on web sites, making it easy to see what kind of response Internet advertising is getting.
Disadvantages
Advertisements are used as a means of deception. Misleading statements regarding a product’s qualities and characteristics are often made to induce people to buy services or products. This is considered dishonest advertising activity and can undermine consumer confidence in the advertising industry. To combat this type of deception, the advertising industry has established an Advertising Code of Conduct.
Marketing and behavioral researchers have found a correlation between consumers’ moods and their susceptibility to deceptive advertising. Deceptive advertising can take on many forms, including the use of mystifying, deceiving, or blatantly untrue statements when endorsing a product. There are several illegal methods for attempting to deceive consumers, such as concealing fees or using surcharges.
Transaction Tools
Advantages
Transaction Tools keeps a stable database and reduces risk of loss of user information in the occurrence of terminal or network failure. It can process large amounts of data in real time or batches. It is a key feature in improving customer service and satisfaction. Transaction Tools allows for the user/customer to have a level of reliability and confidence during transactions. It is swift and cost-effective.
Disadvantages
A good Transaction Tool can be expensive to establish and maintain and is typically used by larger businesses. To use it, you need a good internet connection and to have people with the skills needed to implement and maintain it. It may be hard or expensive to find business partners, who use different Transaction Tools. You may also need help from third parties, such as suppliers or customers, to get them to use your Transaction Tool.
Conclusion
To ensure an increase in sales and profits, businesses need to invest in the appropriate ICT tools. Such purchases can help a company to advertise its brand, connect with consumers, and earn profits. To maximize performance and efficiency, consider investments in the most effective IT tools. These can improve productivity by keeping track of how resources are used and enabling workers to complete tasks more quickly.
About the Guest Author
Harsha Patel, who has been the head of content at ContactBook for 12 years, has high-quality and engaging but well-researched content on business, tech tools, sales, and contact management. She creates and writes for other high-authority sites and writes guest posts and articles. You can reach to her via email.
