The business world is not new to disruption especially because of technology. As a matter of fact, scholars of history will attest that all through the centuries from the pre-historic, to the middle ages and to the present day, the main constant has been advancement in general tech. Humans have always sought better, efficient and cost effective ways of doing things all through the ages. It therefore becomes odd when naysayers blame technology that is being adopted to improve business as a bad thing mainly because of the job losses it may result into.
Adoption of technology is inevitable and the only options left of businesses is either sink or swim that is adopt technology or risk closing down. Let’s look at 3 main ways technology is disrupting business.
Technology has decreased costs and increased output
In the past, businesses had to invest so many resources in the development of operation systems from the production process to the supply chain as well as staff management. In addition, being able to tweak these systems to adopt to changing industry conditions was too much of a hustle and too expensive. Today however, it just takes a systems developer a couple of weeks to develop software solutions that are not only responsive but also very adaptable and customizable to various scenarios. To add to this, these systems are much cheaper to set up including training internal staff to operate them therefore cutting costs in terms of needing specialized staff to operate them. This has tremendously contributed to organizational output at the same time reducing operational costs.
The introduction of cloud computing
The cloud is undoubtedly one of the best business innovations in the 21st century. The fact that business entities whether large or small don’t require physical servers or storage facilities for their data as they can access them much more affordably from third-party organizations, has tremendously improved business operations. Not only has it enhanced data security but also enabled businesses to operate remotely and at more reduced costs.
The introduction of advanced customer segmentation
Because of technology especially advancement in the internet, business now have access to valuable customer data as well as analytics tools which they can readily and affordably access online which they can use for their customer segmentation. This has made it possible to target very specific customer segments thus saving plenty of money that was lost in the past when the mass media was the main avenue of reaching multiple customers. So much money was lost shooting in the dark.
Keeping these benefits in mind, we therefore shouldn’t be too quick to judge businesses for choosing to adopt technology. In all honesty, it’s the only option they have. The onus is on employees to figure out how to stay relevant in a quickly advancing tech environment.