Technology has influenced human life to an extent that cannot be defined. From changing the way people communicate to the way they network, technology has, directly or indirectly, transformed the way they live. Influence of technology is not limited to personal lives of people; in fact, it has made profound influence on businesses too. Technology as changed the way a business is setup, operated, marketed and conducted and this transformation is applicable to businesses across different industrial segments.
Today, businesses can operate from one corner of the world, and serve customers globally. It has been successful in removing barriers of geography and physical boundaries. Thus, business can now easily approach a global audience, no matter where they have setup. Benefits of technology are not limited to customers as technology has made it possible for any organization to conduct its operations across the globe. Internet and technology has given businesses powerful tools like video conferencing, instant messaging software, virtual offices and others. These tools have made it easy for businesses to collaborate their teams and efforts across different parts of the world, and even conduct meetings. With office software, technology has been successful in bringing automation to business processes. Thus, business activities can take place fast with less chances of human error. By digitizing business processes, it has been able to eliminate hassles related to storage and security of physical documents. Along with production and operations, technology has also redefined the scope and definition of marketing. With businesses gaining access to a global audience, competition has become intense and cut-throat. Businesses are opting for new and diverse methods for marketing their products and gaining wide customer base.
Technology has made businesses more efficient and effective, while opening new opportunities for development. Technology has influenced every aspect of a business, and has brought new challenges that every business needs to face for sustainability.