Benefits of Technolgy in Business

TOPIC:

“BENEFITS OF TECHNOLOGY IN

BUSINESS”

GROUP MEMBERS:

ASIM NASEEM, UBAID

•WHAT IS TECHNOLGY? What is

Technology?

Technology is a broad concept that refers to breakthrough in science that

allows for better or automated solution.

Technology increases productivity

Because of technology we get lower cost structure

Improves speed of workEase of sharingDecreases human errorIncreases revenue

• Today with the advent of INFORMATION TECHNOLOGY ,information is shared at an astounding rate.This saves time,offering the ability to make decisions faster.

Benefits of adopting new Technology

• Technology has a vital role to play in any modern workplace and can make a huge difference to the way your business operates, and how well your staff carry out their tasks. These days, an online presence is also expected by customers and therefore is an essential component for businesses.

How new Technology can help your Business?

New technology can speeds up your business process, and allows flexible new ways of working, also transforms your business functions, and can often save you time and money.

The Advantages of New Technology in Business

Enables Travel

• The latest cell phones and PDAs allow individuals easy access to e-mails, with many phone packages being built by cell phone manufacturers to be tailored to the needs of business professionals.

Everyday Communications Easier

• Communication within an office, and with clients and outsiders, is much quicker and easier using technological advances

Save Money

• Businesses can save money by embracing new technology. Advanced technology is typically more energy-efficient.

• For example, in 2010, using personal computers carrying advanced Intel processors can lead to a 50 percent reduction in electricity bills, according to the Small Business Computing website.

Productivity Increases

• New technology makes everyday work in a business easier.

• In 2010 , new computers running Microsoft's Windows 7 operating system could lead employees to triple their productivity, according to the Small Business Computing website.

Improved Business Mobility• Technology has also improved

companies' sales and service departments by allowing employees to use personal electronic devices to create sales displays and transmit orders and customer information to the home office. These electronic devices shorten the lead time companies spend on receiving and delivering goods or services

Growth

• An April 9, 2003, article in the UK's "Telegraph" pointed out that businesses using broadband were growing at twice the rate of other companies.

Globalization

• The Internet, e-mail and videoconferencing are just some of the technologies that allow companies to work with anyone, anywhere in the world. Data and money can be transmitted in real time, allowing businesses to be able to operate on a larger scale.

Wireless Office

• Smart phones, laptops and wireless Internet access have made it easier for professionals to work from virtually anywhere, including their homes and airports.

EASIER STORAGE

Eliminates need of double or triple entry system

Reduces need of large file paperworks

Now contracts and customer info.is stored in virtual data warehouses

Easy access to info.

AUTOMATION

Technology allows business to automate certain functions

Bookkeeping functions now can be handled by software applications such as QUICKER and QUICKBOOKS.

Sales function is automated through contact management suite such as Sales Force

These things gives owner the ability to focus on strategy and cut down on labor expenses

INVESTING IN TECHNOLOGY CAN PAY FOR ITSELF AND MORE

• IT,MEDICAL TECHNOLOGY AND EVEN BIO TECHNOLOGY ARE GROWING FIELDS

Looking Ahead

• Office equipment and design will continue to evolve with new technological advances. New digital equipment will likely replace paper files, as offices move to a more digital marketplace.

THANK YOU!!!