Over the last thirty or forty years, the world of business has changed dramatically. It has changed so much that the people from fifty years ago would not recognize it. The basic mechanisms are still there, but the technology has become so present in business that those people would struggle, at least at first. Today, we will be looking at a few ways in which technology has made business different.
It Made the Planet Smaller
There used to be a time when borders meant much more in the world of business and where the vast majority of businesses operated on a strictly local level. Today, this has changed drastically. For example, a web design company from Singapore can do entire campaigns for a company in Czech Republic; a programmer from Panama can work for an Australian software development company. Even companies that operate on a local level can sell their products and services online and reach a global market.
It Made Small Companies Thrive
One of the best things technology has done for the world of business is that it has made it more democratic in the sense that small companies now have access to technology and data they didn’t thirty or forty years ago. For instance, only twenty years ago, only the largest companies in the world had the money to spend on data analytics and other practices that made their decisions more successful. Today, even small-to-medium businesses can purchase certain software solutions that are aimed at them and that they can use to improve their bottom line manifold.
It Cuts Out the Unnecessary
When running a business, there was always so much paperwork and legal stuff to do that companies often spent more time and money on this than actual thing that they do. This is no longer the case. For one, people can now use all kinds of software to take care of much of their paperwork. Also, thanks to the internet, finding the perfect professional for one’s needs has never been easier. For example, you can now find great professional accounting services without leaving your office. Thanks to this, business owners and people in higher places can spend far more time on what is really important – improving their product or service.
It Makes Employees Happier
Employee happiness is something that has been on the upward trajectory for quite some time now. Thanks to new technologies, employees are getting happier and happier with each year that passes. For instance, an employee who was once unhappy because they travelled a lot and couldn’t see their family can now use Skype and other similar tools to video chat with their family at home. People can also work from home which often makes them happier. In addition to this, various types of software help people spend their time more productively.
Remember, these are just some of the ways in which new tech makes business different. There are many more and we’re sure that you will think of a few yourself if you really think about it.