The rise of technology has paved the way for various innovations. With the digitization of information, more and more companies are taking advantage of the benefits of digital tools to improve their prospects. Information technology has been crucial in making this process a total success.

improve productivity

Besides, during this unprecedented environment that Covid-19 presented, digital technologies will be one of the most powerful options for recovery. A proactive technology strategy built around adapting operations and building resilience can give the company a stronger competitive advantage in a post-COVID-19 world.

Following are the different aspects related to technology in companies and their challenges within the digital transformation: the types of technology implemented, importance, benefits, and contributions of technological innovation in various businesses.

Technology applied to business

Technology in companies has turned their administration upside down to the point of redefining their business plans to adapt to industrial digitization.

When it comes to managing the most important aspects of the company, it has become a key tool to facilitate this process, orienting its strategies to more innovative and affordable solutions. Therefore, the impact of technology on companies is increasing.

Digital marketing, automation of processes, communication are some of the areas that are widely used in various companies.

Types of technology in companies

Every company has its peculiarities, which are related to the type of product it offers, its production capacity, and the economic resources it has. Therefore, it is important to know and analyze the description of the business and the incorporation of technology according to the requirements to improve the productivity and benefits of the organization.

However, the following are some of the main technological innovations that have been adopted by many large and small companies.

ICT (information and communication technologies)

Applied since the end of the 20th century, ICT is one of the main new technologies in companies. The need to maintain constant communication, knowledge of the business environment, and automation of work, has led companies to resort to this type of technology.


The importance of information technologies in business is constituted by improvement and innovation in terms of logistics, personnel management, and reduction in production costs. Following are the application of ICT in businesses.

Cloud

Increasingly, businesses are switching to the cloud to take advantage of its many benefits. “Cloud-based strategies are the foundation for staying relevant in a fast-paced world,” said Ed Anderson, vice president of Gartner.

Process automation

The movement towards more automation of processes has gained strength over the years. Improve efficiency and greatly increase the sales flow.

Information technology helps develop automated processes for businesses. This not only helps reduce operating costs but also saves time. The time saved can be used to focus on other tasks, significantly speeding up business processes.

Processes like billing, tracking metrics, collecting customer data, monitoring certain processes, etc. can be easily automated. Numerous automation software can be used for this purpose.

Work remotely

The implementation of information technology provides the ability to remotely access your company network. As a result, it equips employees with the ability to get work done even if they are not physically present at the company.

Mobile technology

Mobile technology has gained momentum due to its convenience, efficiency, and speed. With the rise in popularity of information technology, the implementation of mobile technology has rapidly gained ground.

The BYOD (Bring Your Own Device) trend is on the rise due to increased employee satisfaction. Mobile technology takes business communication to a whole new level. A mobile team can dramatically improve workplace productivity.

Resource management

A company has a variety of resources. These can include financial resources, human resources, etc. For large organizations, managing resources becomes quite difficult. In your business, you can make this digital transformation play a vital role in effortlessly managing these resources by introducing a wide range of workable solutions.

Internet of Things (IoT)

This technology applied to businesses is about the transformation and evolution of information and communication technologies in companies, which entails the connection of smart devices with everyday devices, generating a greater relationship between the company, its workers, and potential consumers of manufactured products.

Its future application will undoubtedly raise the technological level of a company since it contributes positively to its productivity.

Artificial intelligence

Automation of processes is one of the main characteristics of technology in a company. To enforce this premise, various elements are applied. The use of robotics, virtual assistants (chatbots), enterprise data mining, and automated software and hardware are just some of the technological resources of a company that operates with artificial intelligence.


Virtual reality

The projection of 3D images is one of the main elements that has had the greatest impact on business since it allows us to see the products and projects to be developed from a real perspective.

How to incorporate different technologies into my company to improve productivity, profits and competitiveness

Since you have seen many benefits of technology implementation, you would want to do it in your company. Contrary to what you may think, technology is accessible and affordable even for small businesses and startups. It is only a matter of adapting them to your company.

ICTs

Implementing ICTs in your company represents a good start for the transition to digital innovation. Communication is the most vital for any business.
Following are some of the actions that you might need to carry out for this:

  • Installing devices for seamless internet connectivity, computers, email and social accounts and then train employees or creating an IT department for maintaining all these.
  • Installing a video-conferencing system
  • Hiring an analyst for data utilization
  • Using software for accounting
  • Using applications for HRM

IoT

These devices may increase your productivity by 100%.

  • Invest in connected devices
  • Set up the devices
  • Define the areas and applications

Artificial intelligence

Following are the areas where you can utilize AI in your business:

  • The use of biometrics and voice recognition
  • The use of virtual assistants esp. in distribution and customer services
  • Microsoft has many business solutions based on this technology. You can carry out data analysis, talent selection, organization and other procedures aimed at optimizing the work of the company with a single tool.
  • Robotics is another area of operation where AI is used.

Virtual reality

It is possible to incorporate this resource through:

  • Virtual meeting rooms by setting an area for conferences, meetings, workshops and other types of virtual interactions.
  • Facilitate training of the personnel for using virtual reality.

Conclusion

With technological innovation creating fundamental changes in the way we live and work, companies must accelerate the adoption of digital technologies if they are to survive and prosper. Accelerating the use of collaborative technologies, cloud-based ecosystems, crisis-driven innovations, smart platforms, and cybersecurity can accelerate recovery and create a competitive advantage in a post-pandemic world.

How to Use Technology to Improve Productivity, Profits and Competitiveness 1

Garima Aggarwal is an aspiring content writer and she is working for TABSCAP. Being from the journalism background, she has been into content writing for 2 years and she is passionate to write about topics related to lifestyle, health, and digital marketing. She loves photography, and anchoring and is improving her hands in both fields.