Question

explain five advantages of technology in business world?

(please write short and simply)

Answer 1

The five advantages of technology in business world are as follows:

• Productivity and Automation: Information technology has helped in improving the efficiency of the company by automating lot of tasks thereby decreasing human errors. Information tehnology has given many software applications to the business and management to easily do sales tracking and bookeeping.
• Collaboration and Communication: IT has given resources to communicate effectively and quickly to all levels in the organization. With the help of mobile computing devices such as tablets, laptops and softwares like skype, cloud systems, it has become very easy to work from almost anywhere in the world. You can conduct meetings or conferences over skype which has reduced the travel costs of the organization.
• Reliable Storage: Cloud computing is a technology that provides data storage which is reliable and minimize the requirement for server upkeep. It has also minimized the conditions such as server crashes.
• Information Protection: IT has provided ways to keep the information and records of the company safe and secured which was earlier at risk. With the help of IT, companies can define access controls to all individuals in the company. Not every employee will be able see all documents without the permission of the management.
• Financial Savings: IT has helped companies in their financial savings by help them to reduce workers, reduce payroll cost, warehouse and service maintenance costs and travel costs.