ROLE OF TECHNOLOGY IN BUSINESS

Technology yields fundamental impacts in business operations, regardless of the size of the organisation or the resources employed and utilised (Sidorova, Anna, et al. 2015). Technological infrastructure always affect the efficiency, relationships, and the culture of a business. In today’s economic world, technology is at the forefront to assist managers and directors of corporations – big or small – in their daily operations. Whether the operations are simple or complex, technology always finds and provides feasible solutions to business problems.

With technological advancements like artificial intelligence employment and integration, businesses maintain and sustain efficiency of operations (Windahl, Charlotta 2015). With such assistance, a business can better understand its cash flow needs, obtain informative details about the industrial functions, perform business analytics better, and preserve resources such as space and time.  An AI can be used to collect and store knowledge about various business processes e.g. a complicated business operation which can be used by new employees to adapt quickly and familiarise themselves with the organisation.

Technology enhances quality production of commodities and services. For example, employees can utilise an expert system which has been designed to assist in a specific manner. If the system had been well designed and programmed, then the services or commodities produces with the help of the system will be free from fault. As a result, the company’s returns will significantly improve due to customer satisfaction. In a business context, technology reduces or eliminates the chances of erring when designing a product prototype or when manufacturing the product itself. 

Today’s business world requires a well-equipped workforce and office. This calls for business and information technology alignment. The objective of this requirement is to let IT understand, interpret, and implement what the business needs. An example of a business – IT alignment software is the BIC by GBTEC Corporation. The software allows for process models expansion, complete overview of information technology and processes, etc. 

Bibliography

Sidorova, Anna, Russell Torres, and Alaa Al Beayeyz. “The role of information technology in business process management.” Handbook on Business Process Management 1. Springer, Berlin, Heidelberg, 2015. 421-444.Windahl, Charlotta. “Understanding solutions as technology-driven business innovations.” Journal of Business & Industrial Marketing 30.3/4 (2015): 378-393.