There is no denying that technology has changed every aspect of how modern businesses operate - from how they carry out their daily operations, to how they connect and interact with their customers and clients. To remain competitive in the business world, all entrepreneurs should be taking advantage of technology that can boost productivity, increase efficiency, and generate new revenue potential within their company.

With this in mind, here are five ways that technology can grow your business.

1. Qualifications

Technology has had a significant impact on the education sector. Qualifications are now far more accessible thanks to the introduction of online courses and workshops. Many of these offer the flexibility to be completed at your own pace from the comfort of your own home. Employers should be taking advantage of this and encouraging their staff to develop their skills through online courses and workshops.

For instance, an online mba will broaden your employees' business knowledge and equip them with the advanced skills needed for senior positions. Employees are the backbone of your business, and play a vital role in growth and revenue hence why it pays to take an active role in their professional development. Alongside the many benefits of having a highly-skilled workforce, offering training courses and qualifications will also demonstrate to your staff that you care about their career and development. This should help improve employee satisfaction and increase loyalty within the workplace.

2. Security

The cloud has completely revolutionized the way that businesses store data. Before the introduction of cloud services, companies would store documents and data in physical folders that required large amounts of physical storage. Or, they would store them electronically on hard drives in their business premises. These storage methods pose a serious security risk as sensitive data can easily be stolen, lost, or damaged. The development of cloud storage completed changed this and businesses can now store and share all of their documents securely online.

Migrating to the cloud offers several incredible benefits - it can boost levels of efficiency, improve productivity, reduce the need for costly infrastructure, and minimize the risk of security breaches.

A recent survey by Flexera found that a massive 96% of businesses surveyed use cloud services. Failing to embrace this new technology will lead to missed benefits, and for this reason, all businesses should consider migrating to the cloud if they have not done so already. Fortunately, migrating to the cloud is now quick and simply with the help of expert IT companies. A specialist IT consultant will be able to design a solution that suits your requirements, then manage the transition to ensure that any disruption to your business is minimized.

3. Marketing

Marketing is a fundamental factor in the growth and success of any business, regardless of size or industry. Effective advertising and marketing strategies will build brand awareness, grow your target audience, and increase sales and revenue within your business. Hence why it’s so important to have a strong marketing strategy in place to reach your target audience. Again, technology has completely transformed the way that businesses market their products and services. In particular, social media is now considered one of the most powerful marketing tools available to modern businesses.

Companies can now set up accounts on popular social media platforms like Facebook (News - Alert), Instagram, and Twitter, and then post content daily to connect with their target audience and build brand awareness. This should lead to more organic traffic, conversions, and increased sales and profits. You can find plenty of resources online offering guidance and tips on how to grow your business using social media.

4. Customer Service

A huge variety of technology has been brought into effect over the years to help improve the customer experience. All businesses should be aware of the huge impact that customer service can have on the overall success of their business, as satisfied customers are far more likely to return to your business and recommend your company to others.

On the other hand, negative customer experiences can be highly detrimental to any business, especially given how fast reviews and feedback travel in the digital era. Fortunately, there is plenty of technology that you can implement in your business to enhance your customer service, this includes:

• Customer relationship management software - This helps businesses better manage their consumer relationships by providing valuable information on their target audience and customers.
• Mobile-optimized websites - These allow customers to browse online using their smart devices and make purchases quickly and conveniently.
• Chatbots - This software can be installed to provide customers with instant around-the-clock support to any questions or queries.

5. Productivity

Technology can massively improve productivity in the workplace by streamlining business operations and automating daily tasks. This means employees can dedicate more time to key areas that are going to increase sales and revenue, rather than spending time on mundane tasks like paperwork and data entry.

Another way that technology has improved productivity and efficiency in the workplace is through the development of communication apps like Whatsapp and Facebook Messenger. These allow employees to communicate instantly and get responses to any queries without the time-consuming back and forth of email correspondence. What’s more, these apps can be accessed from multiple devices at any time, which further enhances communication in the workplace.

There are also several productivity apps on the market that allow you to monitor productivity in the workplace and identify ways to increase efficiency. For example, Google (News - Alert) Tasks allows businesses to effectively manage multiple task lists, add notes, and set due dates with reminders. The best thing is that this app is completely free for all businesses to use.

Summary

As you can see, there are many ways that technology can benefit modern businesses. Companies can utilize technology to improve productivity in the workplace, build brand awareness, and enhance the customer experience, to name a few. All business owners should be taking advantage of any new technology that could give their company a competitive edge  in the market, and help to increase overall efficiency and revenue potential.