Understanding the Role of Business Technology in Your Industry - Joel Patterson | The Vested Group

Understanding the Role of Business Technology in Your Industry

Technology is an essential element of every business. Whether it’s a single individual running a company out of their home or a multinational corporation, it’s impossible to succeed without tech. Business technology is continually changing, and it’s crucial to stay up-to-date with your industry’s standards to remain competitive. Let’s look at a few ways technology affects business success.

Improved Customer Interfacing

Keeping your customers happy is paramount to the success of your company. You want to stay current with the standards of communication within your industry. With advances in technology, you can communicate with the consumer more effectively. Technology allows customers to find help whenever they need it, not just during business hours.

Also, today’s consumers all have different preferred methods of communication. Incorporating online chat, text services, or easy-to-use apps into your business gives customers the power to access information in whichever way they are most comfortable. All of these small but effective interactions lead to higher overall rates of customer satisfaction, more word-of-mouth recommendations, and a better reputation for your business.

Flexible and Effective Workplace

Customers aren’t the only ones who benefit from technology in a business. More efficient systems and means of communication allow employees to work together seamlessly from different locations. If your company has multiple offices, technology makes it so teams on opposite sides of the world can still work together without issue.

Tech also makes it possible for employees to work even if they can’t be in the office, like during CoVid19. Allowing employees to work from home leads to higher employee satisfaction rates and improved work-life balance. Working with your staff to provide flexible schedules can help you to retain talent and shows employees that you care about their personal lives.

Better Overall Efficiency

Utilizing technologies that improve business processes can save you time and manpower. Some processes that were performed manually in the past can now be completed with software and AI. However, you have to beware of utilizing excessive amounts of AI when assisting your customers. Too much automation can make customers feel as though a company doesn’t care about their concerns.

Automated systems are also more accurate than manual processes, making for fewer mistakes and less time lost. Antiquated methods can drag your business down, allowing the competition to fly past you. Utilizing emerging technologies to streamline processes will enable you to allocate more resources to growth and development.

Smart Growth

My company, The Vested Group, works with businesses to create Oracle+NetSuite software solutions tailored to their business. In addition to all of the things I’ve mentioned in this article, Oracle+NetSuite also provides leaders with all of the real-time data you need to make informed decisions in one convenient location. Oracle+NetSuite is also highly scalable and customizable, making periods of high growth or transition more manageable.

Secure Operations

The right technology can keep sensitive information safe with digital security measures. Now more than ever, it’s vital that you protect your company from digital threats inside and outside of your business. Security technology allows you to control who can access what information when and from where.

Technology can feel overwhelming at times, but don’t let that stop you from moving forward. The Vested Group’s team of experienced consultants can position your organization for success no matter where your comfort level with technology lies. We’d love to answer any questions you may have – reach out to me directly or take my tech assessment today!