Technology has an important place in almost every business function. Whether you’re communicating with your team, updating a policy or reviewing old records, technology has a major part in helping employees complete jobs and progress in their careers. Learning more about business technology and how it affects the workplace can help you better use what’s available in your workplace to your advantage. In this article, we review what business technology is, explore different technology types and explain their advantages.

What is business technology?

Business technology is any electronic object or system that helps employees accomplish tasks. The technology that employees use includes computers, internet systems, printers, mobile devices and software applications that help them organize and prioritize work. Business technology can also help divide work as well, giving employees different goals to make larger tasks easier. Managers can use business technology to look for new hires, arrange collaborations with other businesses or assess the company’s finances.

How do businesses use technology?

Businesses use technology in a variety of ways, including:

  • Payroll: With computer systems, specialized software and scheduled payroll programs, a business uses technology to transfer payment to employees and contractors during each pay period. Some of these processes are entirely automatic.
  • Hiring: With the internet, businesses can access job forums to gain talent from around the world. Networking and computer systems give managers access to software that creates flyers, job descriptions and scheduling tools for finding talent.
  • Inventory management: Data storage systems allow businesses to create elaborate spreadsheets to record and locate inventory. These software programs may have an active classification system that informs employees if certain inventory is present in a warehouse or on transit.
  • Task allocation: Both offline and online software systems can help managers allocate work to employees. They can assign tasks virtually through custom websites and use internet chat rooms to discuss objectives.
  • Communication: Communication software allows businesses to discuss projects and plans with employees, even remotely. Some systems even have optimization options for businesses that have exclusively remote staff.
  • Data storage: Data storage systems allow companies to file records, financial statements and company data all in a secure database that employees can access from almost anywhere. For production companies, a data storage system can help managers track orders, manage stock and oversee general production.
  • Security: Security software helps keep electronic content safe, preventing unauthorized users and inputs. It can also help employees remain compliant with safety standards in the company.

Types of business technology

There are many types of business technology, including:

Computer systems

Computer systems are very useful pieces of technology that help support almost all the others in a modern business system. It enables employees with software tools that allow them to write letters, send emails, analyze records and design presentations. Computers can be portable, allowing employees to accomplish tasks even as they travel. A computer can help employees work from home with software that gives them monitoring systems, cameras, work tools and communication programs. Most people in a modern workplace use a computer, even if they share it with other employees.

Productivity tools

Computer software and productivity tools help employees accomplish tasks and stay focused on their work. These software tools allow employees to edit documents, process code, arrange spreadsheets and complete instruction forms. Some productivity tools help employees schedule their work, suggesting when to work and when to take a short break.

Networking devices and printers

Computers usually work within a network, connecting to the internet to do a majority of their tasks. Printers also connect to Wi-Fi, using the connection to receive commands from the computer concerning what to print. Networks allow employees in an organization to share documents and information, such as records, emails, internet links or texts. Networks allow many computers to share a printer or storage device. A network may only be available to computers within an office. If the network has a longer range, it may span across the entire department or even the full premises of the company.

Mail and phone systems

Both mail and phone systems help employees communicate with one another about daily tasks and projects. Businesses commonly use in-line phones that only work on the company premises, although more modern establishments may give leaders company administered cellphones. All phone systems in a company usually have auto attendants that help callers find the employee they want to reach. Work phone systems may also include custom voicemail options as well, for when employees are away from work. Email systems work similarly to company phone systems, usually being exclusive to the company and sometimes only working on custom software.

Financial accounting systems

Financial accounting software helps employees track and manage payroll for the entire company. Accounting systems help track the finances that go in and out of the company, monitoring revenue and even predicting capital levels for future periods. Accountants can use financial accounting systems to prevent fraud and ensure that everyone gets paid on time.

Inventory control systems

A business that sells goods or processes items every day most likely uses an inventory control system to track packages and items in transit. These systems ensure secure tracking for every item in a system’s inventory. Inventory control systems also help make sure that production companies don’t run out of necessary stock. Inventory control systems can suggest when it’s time to purchase more materials or suggest how long sales employees can wait before restocking.

Customer relationship management systems

A customer relationship management system is software that tracks a customer throughout their experience with a company. From the time they become a potential lead, a customer relationship management system documents information about the customer to add to their profile. If a customer calls to order a product, the customer relationship management system informs employees what items need shipment and what delivery location the customer uses.

The customer relationship management system acts as an informant between the customer and the employees, making sure that everyone knows the status of the order at all times. For example, if the item isn’t available, the customer relationship management system knows this information before the employee does, and doesn’t place the order, while also telling the customer that the item is unavailable. Customer relationship management systems help build bonds with customers by gathering all the information about their profile that a company wants, and using that information to best serve the customer.

Advantages of business technology

There are many advantages that a business has when it uses technology in the workplace, such as:

Diversified marketing options

When choosing how to market a product, technology allows businesses to advertise using many platforms and media. With technology, a business can advertise using computers, printers, phones and email services to bring marketing tactics to the internet, print and other companies. With the internet and computers, employees can also market in other ways, such as through social media, forums and blogs.

Improved communication methods

With technology, employees can communicate far more quickly and conveniently, no matter where they are. Tools like online chat rooms and phone services allow employees to manage many tasks from home, giving companies the opportunity to work with employees regardless of their location. Having instant communication systems through computers and the internet also helps improve communication speeds, giving employees almost instant information transfer so they can complete tasks quickly.

Prompt financial services

Technology, like computers and automated software, allows businesses to communicate with banking services quickly and automatically. With technology, employees don’t need to go to a bank to retrieve payroll. In an entirely automated system, employees can have direct deposits to their accounts and receive their pay almost instantly.

Better security

Technology allows for improved security over a business’ funds and information, protecting from cybersecurity threats and malware on the internet. Security technology allows a business to more intimately handle its own security measures, investing as little or as much as they want into protection plans. If security software detects a fault within a system, it acts almost instantly, securing the threat and alerting all relevant employees.

From Indeed website