It’s becoming increasingly important for every business to have at least basic technology to run daily operations in the current day society. It makes communication seamless and brings both tangible and intangible results. Despite the glowing positive side of it, technology also has negative implications on business, especially in this cyber-crime era.
We asked entrepreneurs and business owners how technology is impacting their businesses and here are the responses:
#1- The decline in cable television
Technology has greatly impacted my company because we’re a cable company–we are technology. Ever since I began my career with Cable Compare, we have had a website that generates a lot of traffic. Most of our employees are also remote workers who have never set foot in Florida. However, the growth of technology has also hurt us tremendously. It seems as though more and more people are doing away with cable. Instead, they are watching TV through internet streaming services like Netflix, and Hulu.
Thanks to Todd Ramiln, Cable Compare!
#2- The way we serve our clients
AI advancements have transformed the way we serve our clients. With the power of AI, we can present our customers with precise estimations of how much a home can rent. We can supply them with reliable, real-time data, allowing them to receive specifics on comparables and get a holistic market perspective. This gives our customers the information they need to determine their next steps and make wise rental decisions, including how much to charge for their rentals, and what factors influence rental prices.
Thanks to Nick Polyushkin, Ofirio!
#3- Helps build connections
Imagine the days without platforms like Linkedin and zoom, when businesses had to make innumerable cold calls and visit a door-to-door growing business. Now, imagine covid hitting us back in the 90s or early 2000s, remote working would have been 50x more difficult. So, technology has been empowering for my business, to say the least. I started my business only a few years ago and if not for applications like zoom, teams, etc. my business would have collapsed during the pandemic.
Thanks to Ava Martin, Quality Water Lab!
#4- Business runs efficiently
As humans, we are prone to making mistakes from time to time. When these mistakes pile up, it’ll take more time and effort to fix them. Using technology such as automation and analytics tools can make a huge difference in making your business run efficiently without the risk of making mistakes. By investing in these tools, the time you save from fixing mistakes is put to better use like creating strategies to improve your customer experience or focusing on business growth.
Thanks to Will Yang, Instrumentl!
#5- Endorsing my company's products
Technology has played a major role in endorsing my company's products. We have been able to showcase our aptitudes in arranging flowers in the most satisfactory way possible by broadcasting layouts on various occasions be it your birthday, wedding day, or spooky Halloween party. In other words, Technology has unlocked a whole new door of communication and the exchange of imaginations. Likewise, we can actively demonstrate our brand-new designs among target consumers and potential consumers garnishing our company's brand.
Thanks to Alexandra Cotes, Flower Company!
#6- Enhancing focus on cybersecurity
It’s easy for companies to think that advanced cybersecurity measures are too sophisticated and costly for them to adopt. But with the average data breach cost running at $9 million according to IBM research, an unforeseen incident can ruin a small or medium-sized enterprise and unleash significant harm on larger companies – at a time when margins for financial error are even narrower. We always encourage a smaller start, like performing a comprehensive cybersecurity audit with the help of an experienced IT expert.
Thanks to Sophie Townsend, Wilson Public Relations!
#7- Making my business proactive
Technology or technological advancement is making businesses proactive in every domain. Technology is assisting my company in optimizing its operations, goods, and services. It is useful for keeping tabs on things, optimizing operations, keeping data flowing, and keeping track of people. This operational efficiency boost is not only allowing my company to expand rapidly but is also helping to keep costs down. Overall, technology has been proactive in helping my firm expand.
Thanks to Kami Turky, SolarEnergyHackers!
#8- Establish relationships with potential writers
As a successful travel site, blog, and social media presence, technology has made it extremely easy for us to discover and establish relationships with potential writers and contributors, never mind, advertisers, from all over the globe. I'm able to interact with amazing progressive people from around the world and develop connections and eventually relationships with them thanks to online tools and social media. The wealth of social knowledge that keeps feeding our happy adventurous souls, makes it much easier
Thanks to Kyle Kroeger, Via Travelers!
#9- Record-keeping and organization
We are constantly tasked with tracking and organizing data in the business world. Fortunately, technology has made this easier than ever before. Everything from contact lists and calendars to financial records and project files can be stored electronically, making it easier to keep track of everything. In addition, there are now many software programs that can help with this, including CRM systems, project management tools, accounting software, and many more.
Thanks to Neil Platt, Emerald Home Improvements!
#10- Increased efficiency
In my opinion, the impact of technology on businesses today is both positive and negative. On the positive side, technology has drastically increased efficiency and productivity in many industries. It has also made communication and collaboration much easier, allowing businesses to operate on a global scale. On the negative side, technology has also led to increased competition and a wider skills gap. It has also made it easier for businesses to outsource and automate, which can lead to job losses.
Thanks to Matt Gillman, SMB Compass!
#11- Thrive and switch
Technology has helped us continue to do our work through a period when it was very difficult. Technology has allowed my business to thrive and switch to an entirely online platform, with all of our national sales being conducted online, instead of in old-fashioned brick-and-mortar premises. It’s allowed me to greatly reduce my economic overheads and increase my brand's financial viability and profitability and is responsible for completely changing the way I think about business in the digital age.
Thanks to Granger McCollough, Elite Patio Direct!
With the use of technology, organizations can assist employees within the corporation as well as external customers. There are countless platforms that both facilitate and streamline the job process. The COVID-19 increase in remote work has shown that not only can employees operate remotely, but that technological support is also capable of handling just about any technical concerns that may emerge. Receiving feedback is also made easier because communication is much more straightforward.
Thanks to Eleanor Fletcher, The Best Brisbane!
#13- Collaboration in real-time
We can now collaborate with people right away, even if they are on another continent, thanks to a variety of technological instruments. With a simple user interface and a straightforward website, we ought to be able to quickly transfer enormous amounts of data, keep track of work in progress in real-time, and even use other cloud services to store the necessary data in raw format for use at a later time. We can reduce costs and make significant savings by collaborating with others in real-time.
Thanks to Min Tom, Happy Hong Konger!
#14- More connected
As someone who came from a programming background before transitioning into being an entrepreneur, it is probably not surprising that I find the impact of technology on business these days to be immensely positive. We are significantly more connected thanks to collaboration software, significantly safer due to encrypted file storage and transfer, and can accommodate a whole host of new ways of working due to the world opening up thanks to many people only needing a laptop and an internet connection to work.
Thanks to Dragos Badea, Yarooms!
#15- Customer accessibility
As technology advances so do customer accessibility. This developing technology allows a larger customer base to access business information as well as allows businesses to provide their customer base with new and intuitive software, internet bandwidth, and over positive experiences from users. For example, the servers for My Quick Loan are created using the latest technological advances, ensuring that customers can find out more information about personal loans more efficiently.
Thanks to Ned Priestley, My Quick Loan!
#16- Improve the internal curriculum
The impact of technology has reinvigorated the business by adding exposure to more visibility, more accessibility, and helping them improve their internal curriculum along with the services they provide. Digital technologies have gained a way more tremendous popularity in impacting the management of the internal teams, to the way they produce and promote their services, products, and functioning of the firm. There is an increase in accuracy which can make the business owners expand their operations too.
Thanks to Agnes Brown, BoilerWork!
#17- Unparalleled business insights
FinTech is a truly glorious thing for all businesses of today. Smart information displays have been created that allow us to view real-time updates on data and analytics. Businesses who have this information at their fingertips, such as ourselves, are gaining unparalleled insights about their businesses. We use this up-to-date information to keep our marketing relevant and on target or we use the information to create new strategies and approaches.
Thanks to Ziga Breznik, Public Finance International!
#18- Bridge for all gamers
Technology has been a core player in our business. With its help of it, our website acts as a bridge for all gamers. Some can see them while others can buy their desirable games. The gaming world needs new and exciting things every time. Therefore, we serve as a connecting socket between the people. The place is a nostalgic house where you can find all your old loved games and rekindle your childhood. Our website is a hub of antique videogames and connects both parties.
Thanks to Brandon Perton, Theoldschoolgamevault!
#19- Increasing our competitive advantage
Other companies in your niche are spending more money on marketing and advertising nowadays. It's essential to keep track of the accomplishment. Nobody wants to be associated with a company that has poor web visibility. Last but not least, technology is essential for handling funds. Accounting software is used by businesses to keep track of revenues and costs, while internet banking makes it simple to pay bills and move money between accounts.
Thanks to Sai Blackbyrn, CoachFoundation!
#20- Doing outsourcing
Technology has a significant impact on how businesses operate. Regardless of the size of your business, technology delivers both concrete and abstract advantages that can help you generate revenue and deliver the outcomes your consumers want. When I was taking my business to next level I found that I can not do all the work by myself so I selected outsourcing from development to marketing. They're experienced professionals and simply better than me as well as they know about the current trend.
Thanks to Geordie Wardman, Onestop Devshop!
#21- The possibility of remote work
In today’s world, technology has become a need rather than a want. Technology has taken the business world by storm. I have an online store where I sell products to people all across the world. For this to be possible, I need marketers with diverse backgrounds who understand the industry in their respective regions. This has now become possible through the miracle of remote work. Our team is spread throughout the world, bringing value and flavor to our internal operations.
Thanks to Mitt Wilson, MetalsInvesting!
#22- Engaging with a larger audience
Technology has greatly impacted the CBD and other supplements for Pets business today. Using social media platforms like Facebook, Instagram, and YouTube, these businesses can engage with a larger audience and reach more people. In addition, technology has also allowed manufacturers to produce CBD oils that are stronger and more effective, which are then able to be sold to a wider audience. People have been using CBD for their pets, and it has become a popular trend in the market.
Thanks to Deepanshu Bedi, Holistapet!
#23- Eased our processing
Technology is the best when it brings people together. In our insurance world, the use of tech has eased our processing and communication with clients. With advanced surveying systems, automated messages, and AI, our organization can better understand the needs and demands of the customers. With this, the gap between the buyer and the seller is reduced, making it a convenient job for both parties. The level of progression has closed the barriers of delays and regular updates.
Thanks to Agnes Zabawa, Insurance Navy!
#24- Growing at double digits
Technology has allowed our business to keep growing at double digits each month. We are a staffing company, where all our staff is working remotely providing services to our clients. Without the current technology, we would not be able to provide this. It is not only Zoom for the meetings; it is all forms of IT, from the software and hardware required to be able to control and monitor computers of our remote workers who provide service to critical information clients, to applications that make it easier to manage projects and communicate with remote workers.
Thanks to Pedro Barboglio, Remote Team Solutions!
#25- Number of ways
First, it has enabled me to make my operations more efficient. I can now get more done in less time, while still maintaining the quality of my work. Second, it has helped me build stronger relationships with my customers. They can reach out to me at any time, and we can work together on projects from anywhere. Finally, technology has made it possible for me to better understand what's going on in the industry, which has helped me stay ahead of the curve as an entrepreneur.
Thanks to David Miles, The PPC Machine!
#26- The way we bank
The way we bank and transact business has changed as a result of peer-to-peer (or crypto) currencies. This implies that businesses that adopt a thoughtful cryptocurrency strategy may encounter a variety of cost-saving and business expansion opportunities. Leaders can divide payments into manageable loans for borrowers while conveniently keeping records because of its decentralized secure access. Technology also helped us improve collaboration and simplify team discussions and file sharing.
Thanks to Hannah Sanderson, Clever Canadian!
#27- Cooperation with coworkers
A new means of interaction and cooperation with coworkers, customers, and partners is provided by the metaverse. Our businesses have access to a variety of Metaverse-based communication channels for staff and customers. Metaverses can be used for marketing, customer loyalty programs, and training and educational initiatives. Businesses that create virtual representations of their physical stores and products can offer rewards to customers who visit them and make purchases.
Thanks to Ava Collins, Adelaide Examiner!
#28- The way we spend our leisure time
Technology changed the way we spend our leisure time. We can watch TV series without having to wait a week for the next episode to air. This means that we can binge-watch as many episodes as we want without having to wait too long between episodes. We can also engage in some light gaming or even play games online with people from all over the world. can handle almost all aspects of my business digitally including meeting with people, virtually though.
Thanks to Jared Floyd, Ajax Creative!
#29- Changed the medical landscape
At my hair restoration practice, technology is at the forefront of everything we do. In particular, we’ve been able to leverage the power of robotics to enhance patient outcomes. Today, hair transplants can be completely automated through robotics. I hope to see more minimally invasive hair restoration techniques emerge in the future, and that will only happen through technological transformations. Technology has been essential to my business for years.
Thanks to Jae Pak, Jae Pak Medical!
#30- How we market our products
Businesses are complicated activities to handle, and technology makes them efficient in more ways than I can count. One of the most impactful changes that technology has brought to my business is how we market our products to consumers. Technology has made it possible for us to reach a wider audience more cost-effectively. We can now use social media, email marketing, and online ads to reach potential customers, who in turn can find us through different platforms like Google.
Thanks to Kamil Kowalski, LimakWay Remodeling!