Impact of Technological change on Business

Information Technology (IT) and software development revolutionized the businesses in almost every industry in past two decades. IT made business process and management easier, faster and accessible to everyone which save huge sums of time for everyone working and providing service using various business management, business intelligence and business marketing software, and to everyone who is consuming services.

If you think about common daily tasks a couple of decades ago, such as buy groceries, paying utility bills, and making phone calls etc., it was so time-consuming for customers and for businesses to perform these kinds of operations, as compared to modern day would you can get everything done by the palm of your hand.

Business process automation is another key area where information technology and software systems helped in automating various business process and reduce human intervention in common and repetitive tasks.

Technological change has made our lives easier than ever before as consumer and business owner. From businesses point of view, earlier running business was time-consuming and costly, IT and software made huge impact on common businesses areas these include but not limited to the following.

Human Resources

Information Technology and software made huge impact on human resource management for business, as most of the jobs are replaced by computers and robots in some industries. Human resources software and HR systems made it easy to do human resource management (HRM).

Human Resources is the most impacted area in business management, by obsoleting jobs. The education institutes in modern day world are preparing students to be ready for technology based jobs. The hiring and recruitment process have also been revolutionized by IT, there are various websites and mobile apps and other information technology based platforms for advertising jobs.

Recruitment process has also been simplified by these jobs and hiring platforms which simplified initial screening process which makes finding right talent for the right job a lot easier than past. Adverting job becomes easier with information technology, as opposed to past when newspapers and other print media was primary source of advertising jobs and finding new talent.

Modern day information systems made human resource management a lot easier, while providing full feature end-to-end human resource management system which keeps track of employees, their working hours and various information, which is easier to search and manage as opposed to the past where everything was kept in files which takes huge sums of times to find and manage records.

Cost Management

Cost management is another area where information technology and software made massive impact by reducing operation and maintenance costs for businesses. Selling and advertising products was never easier before IT, Information Technology made business to sell their products online without having any physical storefront locations.

Information technology and hardware cost decent amount of money to business, while running, operating and maintenance of computers and systems, with the invention Cloud technologies, services and infrastructure, it becomes easier to run information technology infrastructure & services for business without having to worry about actual physical hardware and servers & devices etc.

Most cloud services providers offer three kinds of cloud services, software as a service (SaaS), platform as a service (PaaS) and infrastructure as a service (IaaS). In SaaS any individual software is provided as service as full functionality application running in cloud.

Cloud Computing
Cloud computing is paradigm in Information Technology (IT) which enablesvirtualizing physical computing resources over remote network like internet;these resources include operating systems, servers, physical configurablemachines, networks, database and software etc. The term cloud is referred …

There is verity of cloud service providers which has brought down the cost of having cloud services and infrastructure, as consumer of service business don’t have to worry about development, maintenance and upgrades of software application.

Platform as service is another form of cloud service where operating system is providing as service which can be managed by IT staff to configure and operate, business don’t have to buy any servers instead virtual hardware is available to scale up and down. Infrastructure as service is advance form of cloud services which infrastructure is provided via online web interface which can be configured to operate various services and systems, but this requires technical staff with advance networking and dev-ops skills.

The cloud services can be operated as per these configurations, which reduced the cost of running IT services and systems for any business. Software and IT has contributed to US economy in great deal according to this report The Economic Impact of Software.

Security, backup and recovery

Information security is another area which is improved with information technology. Storing reserving and searching information about anything related to business was never easier before information technology and software. Software application and systems have various security related features with makes it better and convenient for business to store and transmit information securely.

Various data encryption algorithms and standards have made it possible to security transfer data, and verity authenticity of software applications and systems using Secure Socket Layer (SSL) and Transport Level Security (TLS), which is automated and cost effective as opposed to past where physical security is only measure of security files stored in company lockers or storage facility.

The data backup wasn’t easier task for businesses in the past, which required storing physical files in storage rooms, and a lot of resources in terms of human labor and physical space, with information technology and software backup systems it is way easier and more convenient to back up data into multiple geolocations.

The automated backup to various physical location took it further to next lever where no human intervention is required, and data is automatically backup to different location on regular intervals, and in case of disaster data recover is easier.

Customer and employee experience

Customer experience is the most important aspect of any business, Information Technology improved the customer experience for businesses over the years, thanks to internet reviews feedback mechanism, business can improve their product and services based upon feedback and responses provided by customers online.

The online advertising and sales are very effective way of outreaching customers in various geolocations and cultures and getting feedback from customers really helps companies to improve their services and grow businesses. To achieve effortless customer experience.  

In the last decade the revolution in social networking websites and apps opened doors for marketing products and adverting them to ever broader audiences. Email based marketing, surveys and promotions took product to broader range of customers and helped companies to generate more revenue.

Information technology also improved the employee experience working for company, as it changed the way workplace, internal communication mechanism and better work environment.

Software allowed remove work for certain roles which improved overall experience and convenience for employees working in technology based jobs. Information technology also helped in improving environment, such as reducing traffic on road when employees work from home.