Technology has a significant impact on small and large businesses. Here is a detailed explanation of impacts of technology on business by Guy Galboiz.
In today’s digital world, businesses have to adopt new technology to remain relevant and be competitive. It is important to note that gone are the days when businesses used typewriters to write documents or used postal means to send urgent letters. Today, businesses that have adopted IT devices enhanced with artificial intelligence and other technologies can easily and efficiently perform various tasks with little or no human supervision. Besides the many advantages, advanced technology has negative impacts. Here is a detailed explanation of the impact of technology on business by Guy Galboiz.
Increases efficiency and productivity
Technology advancement has led to the invention of smart devices that can perform tasks that are normally done by human beings. Such machines, devices and even software don’t get tired like humans and require minimal supervision by humans to perform various business tasks. The machines and devices can do more work compared to humans. Besides, such machines and programs such as computers, accounting systems, inventory control systems, networking and telecommunication tools, among others help improve productivity and efficiency in businesses.
Helps businesses be more competitive
Thanks to the internet, AI devices, and development of software, businesses have become more competitive. Small businesses can now compete with large companies that have huge budgets. A small business needs to utilize digital marketing strategies such social media marketing, SEO, pay per click, and more to reach a wider audience. With the right marketing strategy, online presence, quality products or services, best customer service, and an effective website, a small business is well equipped to compete with others of the market.
Technology brings convenience
You can now run a business online and make huge profits in the end. You can take your business online by creating an online store where you sell products or services. You can use a website and social media to attract customers from around the globe who can by while at the comfort of their homes.Indeed, the world has become a global village. Also, access to information has become easier. When you want to know something, you just need to use the internet and a smartphone or computerto search for information online.
The ugly impacts of technology
The main negative impact of technology on business is security of data and information. Fraudsters and hackers will utilize the same technology to access business data and information. Viruses, malware and others can affect the security of your data. Many businesses have lost funds and data to hackers and fraudsters who take advantage of weak security systems. However, you can use a secure host and have a backup just in case hackers try to penetrate your business security system.
About Guy Galboiz
Guy is a tech entrepreneur and investor who has worked hard to get to get where he is today. He is the founder of Protonix, B-Capital, ClickLogiq, among others start-ups, especially in online marketing monetization and Fintech trading. Besides, Guy is an excellent IT expert ready to help small as well as large businesses ready to take a space in the online market. Before he foundedGalboiz Marketing Agency, he worked at different companies such as YouTrade Capital Markets and Forex Place (FXTG).
Technology has come to make the world a better place for all of us. It has helped companies to easily access information. Besides, companies that have invested in technology have a competitive edge in the market. What’s more, advanced devices, the internet and software have come to bring convenience, improve efficiency and productivity in the business world. As such, if you want to take your business to the next level, Guy Galboiz advices you to invest wisely in technology.