Exploring the Possibilities of Business Technology

Business Technology
Photo by fauxels / Pexels

No matter what industry you are involved in, technology is a part of your everyday workplace practices. Devices like point-of-sale (POS) systems for retail operations and sensor-based technology for inventory management are common tech sources that put tech at the forefront of daily operations. As a result, you will constantly face tech challenges, or find solutions that fundamentally change your business over time.

We’ll explore the effects of technology on the workplace and how tech implementations alter the way we do business and how our businesses operate day-to-day.

Using Technology as an Innovation Catalyst in the Workplace

One of the best parts of evolving technology is how we can use different software, devices, and practices to boost innovation and productivity at work. New communication technology creates a more cohesive environment for colleagues to share ideas. Cloud-based storage offers digital document filing options that increase accessibility for employees and clients. Digital storage applications like this make it easier to discover paint points or areas of advancement. It also redefines your practices to fit your business’s growing needs. 

Below are a few examples of the tech resources available that promote on-the-job innovation while simplifying the most crucial business operations.

Collaboration Tools

Collaboration nowadays transcends physical meetings in a single room. Since many jobs have transitioned to a remote or hybrid work model, it is important to adopt communication tools that allow for both real-time and extended collaboration for folks in different areas. In 2020, Zoom gained traction, giving team members the chance to discuss matters through scheduled video chat on desktop or mobile devices. They can even transcribe a Zoom recording online to ensure inclusivity and accessibility in remote collaboration, providing comprehensive documentation and smoother communication. Some companies took things a step further with Virtual Reality (VR) meetings, offering staff headsets and controllers for an immersive presentation experience. This worked especially well for industries like architecture, where physical collaboration is necessary.

Other applications, like Asana and Trello, blended project management and communication, allowing you to easily address other team members, delegate tasks, and provide clear updates without needing to use multiple channels. Platforms like PyCharm and Firebase helped team members band together to test and resolve coding and digital application developments. Firebase even allows for integrations with communication platforms like Slack, making it even easier to collaborate on projects.

Data Analytics

Utilizing data analytics is one of the best ways to identify fluctuations in the market, along with identifying your consumer’s needs and areas of improvement in your business. There are plenty of data analytics software options out there that make collecting and viewing this information easy. Google Analytics gives great insight into web traffic performance, allowing you to keep track of new users, bounce rate, conversions, and the location of your users. Tableau is another data analytics resource that allows you to generate reports and visualizations to track performance, offering real-time data analytics info and easily digestible collaboration opportunities.

Artificial Intelligence (AI)

AI in the workplace allows employees to focus on tasks that genuinely require human input. With it, clients can receive quick solutions to common problems that arise when using your product or service. For the human resources (HR) department, AI tech can be used for virtual interviews to narrow down a collection of hundreds of candidates, speeding up the hiring process. AI can be used for customer service purposes too — chatbots allow a cost-efficient 24/7 support option; AI software can also help make product recommendations for online shoppers to promote a sale. No matter what area of your business you’re looking to improve, there is likely an AI solution out there to assist you.

Technology as a Safety Tool for Businesses and Employees

Safety is of utter importance to your team members and clients. Creating a hazard-free environment for your employees and customers requires conscious implementation of technology that reduces both physical and digital harm.

Addressing Cybersecurity Threats

Cybersecurity is one of the main issues your business should work tirelessly to address. Businesses like fintech banks encounter various digital threats throughout the day. These risks can be mitigated through constant monitoring and comprehensive API security. Routine employee awareness measures via newsletters or training can also reduce the impact of cybersecurity threats.

Companies should always have strategies in place to deal with potential security concerns like zero-day attacks. Cultivating effective responses by using endpoint security and encryption technology will prevent leaks of important information, such as consumer financial data. Data leaks like these can brutally affect customer retention and overall trust in your business.

Reducing Jobsite Safety Hazards

Modern technology creates a unique opportunity to lower the risk of job site harm through many channels. Machine automation allows employees to step back from handling dangerous equipment and chemicals. Automated quality assurance tech reduces bodily exposure to hefty machinery. For one, sensor-based monitoring equipment identifies hazardous working conditions and can stop operations in their tracks. Additionally, devices like automatic fluid dispensers negate human interaction, greatly reducing contact with chemicals that can trigger harmful reactions.

Challenges of New Tech Implementations in the Workplace

When improving the workplace through technological advancements is on the horizon, you must consider the ways these new applications and devices can affect the health of your business. Here are a few examples of challenges you may face when introducing new tech to the workplace.

Budget Restrictions

When introducing a tech overhaul to your business, you’re likely undertaking a costly endeavor, especially if it requires a collection of new devices and machinery. You should consider if this change is a cost-effective solution that is worth the investment. Before making any alterations, create a cost-benefit analysis that identifies and addresses your business goals, expenses, and advantages of using this new tech. 

If you’re considering a tech-centered upgrade for your business, It can be useful to look for energy-efficient solutions to your concerns. Tech advancements have affected the average daily energy consumption of a business. This comes at no better time when eCommerce options have increased the burning of diesel fossil fuels to keep up with product delivery demand. Adopting energy-efficient fixes, like fuel-efficient vehicles and autonomous vehicle delivery systems, addresses your carbon footprint, yields tax credit benefits, and appeals to your more climate-concerned audience.

Implementing the Wrong Technology

Just because a tech application or device is new doesn’t mean it is the best option for your business. Always think about what your business needs and what you’re looking to accomplish. For example, you may be looking to utilize AI chatbots as a customer service option for your eCommerce business. However, if your clientele primarily consists of a 50+ age demographic, you may find widespread dissatisfaction, as this demographic tends to prefer personal interactions.

Proper Training and Skill Enhancement

Offering accessible and timely training modules can be a huge barrier to tech implementation. For some businesses, there are simply not enough staff members available to offer training, and even fewer who are already familiar with the new technology and can correctly train other team members. It can take a while to refine the skills necessary for this sort of advancement in your team members, so you should be prepared to have a slow rollout of these new operations if necessary. Do not base the health of your whole business on these new tech systems either — always have contingencies in place should you need to return to the drawing board.

⸻ Author Bio ⸻

Sam Bowman

Sam Bowman enjoys writing about people, tech, business, and how they merge. He enjoys getting to utilize the internet for the community without actually having to leave his house. In his spare time, he likes running, reading, and combining the two in a run to his local bookstore.

The content published on this website is for informational purposes only and does not constitute legal advice.

Accelerate Your Business Growth. Understanding Auto Financing
Understanding Auto Financing

Accelerate Your Business Growth. Understanding Auto Financing

Expanding a business requires strategic investments that boost operational

How to Find Experienced Personal Injury Attorneys in Norfolk, VA
Injury Attorneys

How to Find Experienced Personal Injury Attorneys in Norfolk, VA

Are you currently facing the aftermath of an injury in Norfolk, VA?

You May Also Like