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How Is Technology Used in Business?

PostPosted: Thu Nov 17, 2016 5:09 am
by oprfid

Businesses use technology to streamline their operations and attract new customers. A study conducted by Muske, Stanforth and Woods of 193 micro business owners found that 77 percent were active users of technology even though the companies employed no more than 10 people. A Wells Fargo/Gallup Survey showed that small and mid-sized businesses are re-evaluating how they use technology to ensure they are meeting their customers’ needs.

Businesses large and small use computers to streamline their operations. Whether by using a spreadsheet to perform accounting, taxes, and finance functions, or by employing a database to track orders, customers, and inventory, technology helps businesses stay organized and competitive. The Small Business Administration encourages business owners to improve efficiency and expand operations by using software for accounting, planning, time tracking, email, and remote access. Cerner, a healthcare solutions provider, was able to use Intel technology to lower its operating costs, use less energy, and otherwise reduce its environmental impact.

Amazon, eBay, and other popular services built their businesses around technology that enables customers to purchase products online. Firms such as Barnes & Noble and Best Buy now rely on their extensive online operations to complement their in-store sales. To generate new sales and encourage repeat customers, businesses use technology to enhance a customer’s online purchasing experience. Amazon’s success with its ‘one-click’ technology shows how companies are rethinking the ways in which they capitalize on new tools to retain existing customers and attract new ones.

Social media and the Internet have revolutionized the way companies market their products and services. Companies can display and tout their wares via websites and social media platforms such as Twitter, Facebook, and Pinterest. For example, Kitchen Cabinet Kings in Staten Island, New York, uses Facebook and Twitter to showcase its products and offer discounts. Fans and followers are able to envision the company’s products in their homes and use the discounts towards purchase of other products from the firm.

Security risks come in physical and virtual forms. Many businesses install security systems to protect their products, employees, and property. Others have robust IT infrastructures designed to thwart hackers and other security threats. The bank HSBC suffered a denial-of-service attack on Oct. 18, 2012, that locked customers out of their accounts for almost 10 hours. The bank’s robust security and technology infrastructure prevented the compromise of any customer information; the bank was able to restore full functionality to all of its websites.

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PostPosted: Fri May 19, 2017 3:22 pm
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Re: How Is Technology Used in Business?

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Re: How Is Technology Used in Business?

PostPosted: Tue May 15, 2018 6:40 am
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