How Technology Helps in Business Growth

[vc_row][vc_column][vc_column_text]Technology has a major impact in the modern workplace. Businesses use technology to extend their facilities and serve their customers better. Technology helps companies to achieve growth and success when utilized effectively. Successful businesses don’t view technology only as a way to automate their processes, but also use it to open up new ways of doing business. A business that has the technological capability to explore new opportunities will stay a step ahead of its competition. There is number of technologies which have positive impact on the business growth. Dubai Government adopts new technologies to improve the departments efficiency, fast and ease of services. Generally all Govt. department adopting the technologies but particular Dubai DED already implemented range of initiative for ease of business setup in Dubai. From trade name reservation to licensing issuance like instant license all can be done through online services without visiting any govt department. In the current era the importance of technology in business world is significant.

Business Cloud

The cloud is a centralized location on the internet which helps in storing data and can be accessed from any where and on any devices, irrespective of location and time. The business firms adopted cloud technology to reduce their hardware costs for storing, processing files and applications, easy to use and flexibility in all the computing area. Cloud is highly customized product and completely depends on the requirements. The pricing factors is also varies as mostly cloud charges as per the usage resources. The cloud technology helps businesses to back up all the data’s stored in it which will help in case of system failure.  Irrespective of the distance of connected devices or your team members location the cloud helps in sharing data effortless. Once the data is backed up the files can be shared easily among the members by sending a link which will help you from the timely process of emailing large sized files. Moreover storing of files in local storage will consume your storage space. To increase the hard drive capacity will be a costly process. Cloud technology helps businesses to digitize the all business areas and improve the business growth.

Use of Internet of Things (IoT):

IoT refers to the interconnection of devices and gadgets that will help in collection, transmission and storage of data’s. The implementation of this technology helps businesses to collect and exchange real time data. For a manufacturing industry it helps in reducing operational cost by monitoring equipment and machinery for predicting failures and misalignment on the production line. This will also result in improved productivity and enhance efficiency For retail business IoT will help in understanding the consumer behavior by collecting and analyzing data from social media, video surveillance and internet usage. This will allow to predict the consumer preferences and the businesses can design their products and services according to the customer needs. It also help businesses to ensure workplace safety by using sensors and smart wearable. They are use to monitor and warn against failures in their work. Devices like smart locks and connected video surveillance technology helps businesses to monitor their premise to ensure safety.

Implementation of Artificial intelligence (AI):

The implementation of AI in businesses helps the firms to make better business decisions. The organizations growth highly depend on analyzing large data for their businesses from their data storage area will use the AI technology to analyse and record accurate data which lead to timely report and best business decisions. The implementation of chat bots for customer interaction can increase the customer satisfaction through quick response and providing the required information. The AI system can also help retail and other business to manage their inventory and supply chain efficiently by automating the order management and fulfillment. The AI can help the manufacturing and transportation industries to manage their maintenance schedules and ensure safety of equipment’s and vehicles. The AI based facial recognition applications are used by business firms in screening the right candidates for employment.  These applications will take in the audio and video data from the interview and will provide recommendations for the next step to human recruiters which makes their job easy.

Blockchain Technology for Business:

Blockchain allows to distribute, control, and store transactions in a fully protected and transparent way with no intermediaries such as governmental institutions, banks or any centralized organizations. For an e-commerce payment platform or for international transfers, cryptocurrencies can be used as an alternative for credit cards or other payment methods. Blockchain technology helps business firms to eliminate the intermediaries charges for transactions. Block chain can also help supply chains to achieve a new level of transparency and quality assurance easily tracking the entire life cycle of a product. It will help in improving process and attracting potential clients. Also, block chain technology helps businesses in maintaining permanent record of transactions, which creates an easy-to-follow paper-less trail for audits. It guarantees accuracy and solves the problem of pulling in records from a number of distinct sources. Benefits of technology in business will be significant if timely invest in technology and adopting the right solutions for their specific needs and challenges of their business, then success and growth becomes lot easier than ever before. Technology benefits in business The fast growing technologies not only helps the business to grow faster also create future business opportunities in the market. This blog post is written by Mr. Sajeev, Senior Business Advisor at Flyingcolour, a leading business setup, VAT and Accounting Services in Dubai and across UAE. He always remains on top of information and makes sure that every client gets the best service with all possible help to setup their business in UAE. For more details, please contact us at +971 4 4542366 or email us at info[at]flyingcolour[dot]com.[/vc_column_text][/vc_column][/vc_row]