Technology’s impact on business is increasing day by day. With bots, robotics, machine learning and artificial intelligence, more functions are becoming automated. And where humans are required in the business process, more and more advanced technology systems are common.
Effects of technology on business include:
* Streamlining business processes,
* Improving quality,
* Reducing costs,
* Enabling businesses to respond instantly and in real time to customers.
In a world that is becoming more and more technologically advanced, every business needs to keep up with the tech race. Businesses that don’t, risk falling behind due to higher costs, resulting in higher prices, and substandard processes.
Technology concerns that small businesses need to address to ensure they can keep up and remain competitive include:
* Up to date software and hardware systems,
* Data backup and disaster recovery systems,
* Ensuring employees are trained in basic IT skills and or having access to a remote IT team,
* Ensuring information security and protection from cyber security risks,
* Remote team collaboration.
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