Top 8 Impacts Of Technology On Business In Nigeria

Top 8 Impacts Of Technology On Business In Nigeria

Top 8 Impacts Of Technology On Business In Nigeria

Technology has changed the face of business and how we do business. The process of business has been amended and organizations are now working more efficiently than before. Technology has had great impact on many organizations and businesses in a remarkable way. It has also changed the behavior and processes of the workplace. The increased invention of telecoms and IT technology is bringing about a great transformation on the business environment, and more businesses are taking advantage of the technological tools and equipment.

Mobile devices like smartphones and tablets have combined with the use of internet to transform the way we work. They can connect you to your business environment, even while you are out of work, allowing you to respond to emails concerning critical matters. Communication is made easy with the use of email which has replaced phone calls, faxes, and messages. Storing of files has also taken a new turn from PCs and mobile phones, to cloud computing which allows you easy access to them anytime and anywhere.

One major change technology brought to business is how organizations now connect to customers in an inventive way through social media platforms like Instagram, Twitter, and LinkedIn. For instance, Instagram and Twitter can help put businesses in the minds of people and they have easy access to them whenever they need their products. Through LinkedIn also, organizations can connect to other business networks to produce new revenue or connections.

Looking back at how business was before now, we can say that technology has changed almost everything, and is soon going to be the major tool for doing business in years to come. Innovations in technology has improved the operations of different industries and has helped to turn small businesses into global ones.

The impacts of technology on business can be seen in the following areas:

  1. Marketing

Internet marketing includes advertising on websites or on search engines to increase sales of a product. Technology has relieved small businesses of the need to print adverts for reaching out to new customers. With the internet, they can now market their products online with captivating contents. And customers can access them without stress. Email marketing is very effective and a low cost way of reaching a large number of people with either newsletter, business updates or coupons. Online marketing is the new way that allows businesses reach prospective customers through text messages, online platforms and social media.

  1. Communication

Smartphones, PCs and the internet helps businesses to connect with their customers. These devices are the new method of staying in touch with customers, responding to their inquiries and attending to their complaints in due time. You don’t have to be in the office to do these things anymore. With access to the internet, businesses are just an app away from their customers. The increase in the innovation of technology has also helped, especially in the development of online platforms for different organization. Customers no longer have to walk into a store to purchase items or products, they can easily do that online and have their goods delivered to them.

Top 8 Impacts Of Technology On Business In Nigeria

  1. Customer service

Technology brings business and organizations close to customers. Most businesses now use email to answer questions, and attend to customer complaints. They also provide online platforms that allows people who are visiting their website to connect with them more effectively. The invention of chatbots has made connecting with customers easy and faster. Chatbots are programmed applications that allows you perform online transaction on a company’s website. They can walk you through whatever you need on the platform. However, it is important for businesses to note that they still have to train their employee on how to effectively serve customers, not totally depending on technology to do that.

  1. Telecommuting

Companies now use telecommuting and enjoy it as advantages. Employees and their bosses can now connect while working from different locations, or while working different hours. They can make use of email, or online tools and mobile computing devices. Even when in the same office, they can share documents and convey information through presentations. It can also be used to create online tutorials to train new employees and help them blend into the business.

 

Read Also: How Digital Information Systems are Making Companies Grow More Efficiently

 

  1. Productivity

Technology has made work easier and even more productive. You can get more work done quickly within a short time. The point of technology is to keep employees focused and use it effectively for productivity in the business. However, companies have to balanced both offline and online activities. Employees should be provided with the right hardware and also be updated on software to keep them working at high proficiency. As much as technology is the best for businesses now, especially for more productivity, it shouldn’t totally eradicate the input of humans.

Top 8 Impacts Of Technology On Business In Nigeria

  1. Cost management

Technology has provided cost effective ways of doing works faster and with more quality. Most businesses are looking for ways to manage cost and simplify operations, and technology has made the available. The use of cloud computing, resource outsourcing can improve efficiency, employee’s performance, and also reduce cost in the process. 

  1. Teleconferencing

Teleconferencing is one of the ways through which businesses and organizations now hold meetings. It used to be only phone conferencing before, but now it has advanced to web conferencing. It brings together web cams, and audio for online meeting and creates an interactive environment. The members can see and hear each other, work through documents, and they have have a feel of being together in the same place though they are in different locations. Small businesses have been able to broaden their scope to global customers and workers through teleconferencing.

  1. Resourcing

Technology has also changed the way businesses are resourced. Organizations and businesses are reluctant to absorb large upfront costs for facilities and services that might have high operating costs, so they go for online resourcing instead. They have realized that they no longer these facilities, but can go the technology way. For instance, cloud computing now allows you store data and information that can be accessed anytime it is needed.

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