Why Use of Technology in Businesses is Important?

Aditya Chakurkar | November 20, 2021 | 61 views

Technology in Businesses
Whether it is R&D, payroll management, human resource management, accounts, or finance, technology has considerable benefits for your organization. Whether you run a small, mid-size, or big business, technology is your leading source of knowledge that offers both intangible and tangible advantages to make money and meet customer needs.

Today’s society is already experiencing a total integration of the internet, mobile devices, smart appliances, etc. The current business world is not the same as the last 100 years (that didn’t change much despite the industrial revolution). Now the rate at which technology is adapting, expanding, developing, and mutating, every business will face its effects, whether it's ready for it or not.

The advantages of technology in business are infinite. Its role in organizations is already spreading its wings and will continue to grow in the future. Apart from the operations and employees, companies owe their success to how they utilize modern-day technology.

“Think of digital transformation less as a technology project to be finished than as a state of perpetual agility, always ready to evolve for whatever customers want next, and you’ll be pointed down the right path.”

Amit Zavery, VP and Head of Platform, Google Cloud

The use of technology in business can no longer be devalued as it's the need of the hour. Just like the last couple of decades, technology for business in 2022 will keep enabling businesses to work more effectively, accurately, and productively in many ways. Whether contacting their customers to review the services or conducting meetings with remote employees, technology will continue providing the best solutions to overcome challenges and meet goals. For this reason, businesses should not just utilize technology to automate processes. Instead, they should view technology as a tool that uncovers new ways of running a business.

But what technologies are we talking about? And, how can organizations benefit from them?

Keep reading to explore!

Effective Use of Technology in Business for Growth

Around a decade ago, businesses had the following challenges (and they were severe!):
  • No availability of voice searches or Internet of Things (IoT)
  • No centralized work communications
  • No new marketing platforms (like social media)
  • No availability of high-speed internet

Situations are (fortunately) different today. The use of technology in business has transformed operations; the pace of this transformation has been excellent.

The following uses of technology in business can change how your organization operates and ultimately result in more efficiency, profits, and growth.

Use of Artificial Intelligence (AI)

Apart from being a mainstream thing of our day-to-day life, AI is reshaping the landscape of the consumer market and businesses of all sizes. From security, CRM, finances, and accounting to buyers tracking, inventory management, and predictive analysis, AI can handle everything and eventually offer a competitive edge to your business.

Many businesses around the world have already implemented AI into their operations. It is pushing those companies in the correct direction while offering their customers the best user experience. For example, Spotify uses AI to recommend music to its users. Uber uses it for route optimization, fraud detection, pairing riders and drivers, risk evaluations, and several other parts of its app.

Use of Robotic Process Automation (RPA)

RPA is being increasingly utilized to carry out time-taking tasks. It can replace employees in manual and repetitive tasks and is thus perfect for industries where such actions are identifiable.

For example, many retail businesses use RPA software for customer support management, business & sales analytics, product categorization, store planning, payment processing, and more. Companies that deal in construction use it for estimate generation, contract generation, resource allocation between construction sites, construction site cost monitoring, etc. Even telecom companies use RPA to simplify customers’ document verification, increase First Call Resolution (FCR) rate, optimize customer onboarding, and boost SIM card allotment processes.

Use of Technology for More Knowledge

In 2022, technology will continue serving as a right hand and source of knowledge for businesses. Technology and knowledge are directly proportional to each other as technology allows producing better decisions, making accurate predictions, and innovating based on the knowledge it generates.

Knowledge,  undoubtedly, is one of the biggest benefits of information technology in business. With the right blend of technology and knowledge, companies can effectively make the most of databases, querying & reporting, search engines, CRM, and whatnot.

“CIOs and CISOs have such a unique opportunity right now in driving the enterprise forward. Be that through shaping corporate culture or guiding the company through their digital journey, technology leaders have a strong upper hand . . . it’s a great time for the enterprise but it’s also a great time for technology leaders to position themselves for space in the boardroom. This is a career-defining moment.”

Hunter Muller, President & CEO, HMG Strategy

Frequently Asked Questions


How does technology help businesses?

The use of technology in business can offer many advantages. Here are the top five of them:
  • Improved data security and customer experience
  • Better communication means
  • Time and cost-efficiency
  • Enhanced business agility
  • Increased streams of revenue

What technologies will dominate the future?

As a business, you need to keep your finger on the pulse of emerging technologies because the use of technology in business is your ultimate way to achieve the desired growth, efficiency, and profits.

The following are the technologies that will dominate in 2022 and beyond:
  • Internet of Things (IoT)
  • 5G
  • Blockchain
  • Artificial Intelligence (AI)
  • Customized & Intelligent Management Systems
  • Automation

Why should SMBs (small & medium size businesses) use technology?

Technology has the power to transform all SMB operations. In any industry, technological advancement can impact aspects of small businesses such as internet capabilities, computers, web-based applications, online storage, etc.

With the right adoption of technology into the environment, entrepreneurs and SMB employees can enjoy the following benefits:
  • Improved collaboration and data sharing
  • Instant connection with consumers
  • Efficient employee training
  • Flexible work environments
  • Improved online visibility

Spotlight

Datix Ltd

Datix has been a pioneer in the field of patient safety since 1986 and is today a leading supplier of software for patient safety, improving quality, risk management, incident and adverse event reporting.

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Picsart Opens SDK, Making its Powerful Editing Experience Available to Enterprises

Picsart | August 01, 2022

Picsart, the world’s leading digital creation platform and a top 20 most downloaded app worldwide, is adding to its Picsart for Developers API offering with the launch of an Editor SDK (Software Development Kit). With this expansion, enterprise and business partners can integrate individual editing features via Picsart’s APIs or choose to embed the full end-to-end photo editing experience into their workflow with the new SDK. "Picsart is one of the largest creative platforms in the world. We've spent the last decade perfecting AI-powered tools that are used by hundreds of millions of creators, and this scale gives us the capability to move into enterprise. “Ultimately, our vision is to empower creators everywhere and the best way to do that is to power platforms that are also serving creators.” Jinny Jung, VP of Business Development & Operations at Picsart This new offering strengthens Picsart’s continued commitment to support the creator economy. As demand for the brand’s creative capabilities grows, Picsart for Developers is expected to be a mainstay player for future monetization and revenue diversification for the company. Available today, the Editor SDK consists of an end-to-end photo editing flow that supports Picsart’s vast range of Editor tools, including: basic editing functions, templates, stock photos, background removal, and all the AI/ML powered editing features optimized for an enterprise experience. Unlocking a full design suite, the embedded experience has broad applications for e-commerce, marketing, advertising, and printing. eProductivity Software Solutions (ePS, formerly EFI) is one of Picsart’s early SDK customers. This partnership enables ePS to give its community and clients the ability to natively create and optimize designs on their eCommerce site. Imgur is also an early SDK partner, utilizing the brand’s tools to unlock the possibilities of creativity for its customers. “With the rise in demand for real time creative control and access to a wide variety of content, our customers are looking to us to provide a one-stop shop for print software solutions, inclusive of the editing experience,” said Charlotte Tueckmantel, GM at eProductivity Software. “We’re committed to ongoing investments in our technology, and we know that by partnering with Picsart we are offering best-in-class creative capabilities that will empower and scale our customers’ businesses.” This news comes just after Picsart announced its industry leading suite of AI Image Enhancement tools, including advanced image upscaling capabilities. Picsart also recently launched a free-to-use suite of Quicktools. About Picsart Picsart is a photo and video editing platform and creative community. A top 20 most downloaded app worldwide, its AI-powered tools allow creators of all levels to design, edit, draw and share content anywhere. The platform has amassed one of the largest open-source content collections in the world, including photos, stickers, backgrounds, templates, and more. Used by consumers, marketers, content creators and businesses, Picsart is used for both personal and professional design. Picsart also offers its world-class image editing and processing tools to businesses through APIs and an SDK. Download the app or visit picsart.com for more information.

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Dataminr Announces New Partners With the Launch of Its Global Partner Program

Dataminr | August 12, 2022

Dataminr, the world's leading real-time information discovery platform, today launched its global partner ecosystem, the Dataminr Partner Program. The program will dramatically expand Dataminr's customer reach across the corporate market, while also providing better enterprise workflow integration and the flexibility to procure Dataminr's products through trusted partners. Dataminr's partner program makes it easier for corporations to operationalize Dataminr's AI Platform across their organization and more seamlessly integrate Dataminr alerts into their workflow. Additionally, this initiative will open up Dataminr's offerings to corporate enterprises in a growing set of commercial sectors and geographic regions through Channel Partners, and provide our signals to Platform Partners to power products for new corporate use cases including supply chain, logistics, fleet management, insurance and many more. "The Dataminr Partner Program broadens our scale and reach through channel partners and reseller networks, delivers more value for our customers, and powers global sales through partners that can sell the Dataminr solution in their local region. "The program will accelerate Dataminr's customer growth, optimize workflow integration, unlock new corporate use cases for our AI Platform, and also feature numerous benefits and incentives for partnerships with comprehensive partner resources." Aharon Weiner, SVP Global Partnerships, Dataminr Leading merchants and businesses including Google, Amazon Web Services, Microsoft, TD SYNNEX, NEC Networks & System Integration Corporation—and long-time partner ESRI—are new participants in the partner ecosystem. "We are proud to have the opportunity to be one of the first participants in the Dataminr Partner Program," said Cheryl Neal, Vice President of New Vendor Acquisition at TD SYNNEX. "Together with Dataminr, we will be able to enrich the breadth and depth of our offerings, ultimately maximizing the value of our customers' information and IT investments and unlocking growth for the future." For new partners, comprehensive program benefits include: Flexible compensation models with competitive margins and margin protection Co-selling benefits such as joint business planning and joint account mapping Market development funds to drive demand and pipeline growth A library of resources that includes training and enablement, sales tools, marketing assets and more. ABOUT DATAMINR Dataminr delivers the earliest warnings on high impact events and critical information far in advance of other sources. Recognized as one of the world's leading AI businesses, Dataminr enables faster response, more effective risk mitigation and stronger crisis management for public and private sector organizations spanning global corporations, first responders, NGOs, and newsrooms. Recently valued at $4.1B, Dataminr is one of New York's top private technology companies, with 900+ employees across eight global offices.

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