10 Ways Technology Has Changed The Business Industry For The Better

Written by: George Smith
05/21/2019

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There is no doubt that technology has changed the way we go about our daily lives. It has come so far in such a short amount of time that it’s anyone’s guess how advanced it will be in just a decade or so. On the other hand, many people believe that we have become too reliant on technology in the way we live. Simple tasks such as knowing how to read a map, that virtually everyone knew how to do just a few years ago, have become a lost art in today’s world. In a lot of ways, that could end up being a major disadvantage if anything catastrophic was to happen. That said, we can’t ignore the fact that technology has done much more good than bad so far. That includes making our working lives more productive and easier to handle. With this in mind, let’s take a look at 10 ways technology has changed the business industry for the better.

#10: It Has Improved The Way Businesses Comminucate
For the majority of people in the 21st century, they can’t imagine a world without the internet. The invention and integration of the internet alone has completely changed the way we live. Consequently, it has also changed the way we communicate. Long gone are the days of mailing information as the fastest way to communicate. While businesses still effectively use that method, the majority communicate through email or other instant messaging platforms. This has resulted in a more fast-paced and productive working environment.

#9: It Protects Valuable Information
Given that everyone and their mother is online, bad people naturally found a way to take advantage of that as well. Known as black-hat hackers, these people prey on vulnerable people without leaving a single online trace. However, the positive to this is that technology continues to improve with no signs of slowing down. In other words, it is only getting harder for hackers to take things that don’t belong to them over the internet. Worth noting, technology is already amazing at protecting valuable information and preventing these type of situations.

#8: It Has Helped Businesses Scout and Recruit Employees
One of the most impactful things technology has done for businesses is improving their scouting and recruiting departments. Before, businesses had to rely on traditional job postings to get people to come in and interview for a position. Nowadays, there are dedicated websites and software that not only bring in tons of applicants, they also speed up the process. This has saved businesses valuable time and money as a result. Additionally, it has helped businesses weed out bad candidates more effectively than simply reading a resume would.

#7: It Has Created More Effective Marketing Methods
Technology has brought along with it a new age of digital marketing. Traditional marketing methods such as billboards, newspaper ads, and local television spots are gradually becoming a thing of the past. While these traditional methods can still be used effectively, they are not nearly as powerful as digital marketing methods. Mainly used through methods known as Pay-Per-Click advertising and SEO optimization, these methods are also drastically cheaper than other methods. As opposed to other marketing methods, digital marketing methods take advantage of the fact that everyone is now searching for businesses through the internet. Simply put, it’s a new and more effective way to spend less money and bring in more clients.

#6: It Has Created An Age Of Transparency For All Businesses
Before technology integrated itself in the business industry, it was easy for businesses to scam and deceive people out of their hard earned money. For example, in the early days of the internet, a method known as keyword stuffing allowed website owners to illegitimately rank their website above other competitors. This then allowed a plethora of bad businesses to come off as a trusted and respected while they were the complete opposite. Noticing this problem, search engines like Google have made it a necessity to earn trust and respect in order to rank a website. As we can imagine, this completely turned the old system around and created an age of transparency for all businesses.

#5: Businesses Now Need Social Media
Another impactful creation that technology has had on the businesses industry is bringing in the age of social media. While the words social media probably weren’t even invented as recently as 20 years ago, businesses today absolutely need it to survive. In fact, it has gotten to the point where any business that does not have a social media following is viewed as untrustworthy. On the positive side of things, social media has proven itself to be by far the most effective way for businesses to engage with its clientele. This has also led to the creation of what is known as social media marketing. Similar and somewhat a part of digital marketing methods, social media marketing is simply pumping out ads throughout the main social media platforms.

#4: It has Led To The Creation Of Social Media Influencers
Sticking to social media, technology has also led to the creation of social media influencers. Social media influencers are people on social media who have a ton of followers. In other words, as businesses have figured out, they are people who can help bring attention to a business product. It’s amazing how much a simple social media post can help bring clients to a business. In a lot of ways, technology has created a whole other business niche in the industry with these influencers.

#3: It Helps Businesses Stay Up-To-Date
As mentioned before, technology has come so far in such a short amount of time. Currently, it’s on a pace where it is basically changing year after year. With constant improvement and change going on, businesses are now forced to make the same changes or be left behind. That said, technology has also made it easy for these businesses to stay updated. In fact, it has given businesses the ability to predict future trends that nobody have caught on to yet. This as an all too powerful and lucrative tool that was not available before technology left its footprint in the industry.

#2: It Has Created Better Financial Tracking Methods
One thing that hasn’t changed over time is businesses having to pay in order to stay as a legit business. With financial burdens such as taxes and audits being a yearly thing, it is important for businesses to accurately track the amount of money made in any given year. Not being able to do so will not only result in the loss of that business but, possibly even jail time. Once again, technology has come to the rescue with the creation of accurate and effective financial tracking tools and software. These tools are really as simple scanning, uploading, and then turning in the financial recordings at the end of the year with a push of a button.

#1: It Has Boosted Our Economy
Perhaps the most impactful was technology has changed the business industry is by giving our economy a boost. While local businesses have always had a small impact on our economy, technology has resulted in more faster production from these businesses. In turn, this means that more tax money is being turned over at the end of the year from businesses in the industry. Worth repeating, who knows how impactful technology will be for us in the future?


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