In the world of business, technology plays a big and important role. The following article talks about the co-relation of business and technology.

1. Co-relation Of Business And Technology
In today's world businesses have come a long way. With technological advancements at the current pace one
cannot possibly keep business and technology apart. To be successful in any business appropriate usage of
technology could be the key to success. Initially businesses used technology to only lower costs. Now, it has
been discovered that reducing costs is just one of the advantages that technology has to offer to businesses.
The various advantages that technology has offered to businesses are as follows:
Reduction in cost: Operating expense can be reduced by computerization and modernizing various
procedures. This will utilize less manpower. Use of a lot of stationery like pay rolls, ledgers, vouchers, etc
will be avoided, thereby saving a large amount. Lesser number of persons will be employed and they will be
held accountable.
Augmenting profitability: Use of online technology has helped in increasing the sphere of business and
made it more economical. A large number of people can now be contacted centrally. The cost can be
reduced by routing products through a major central hub.
Increase in customer base: By including technology with business one can have a much wider customer
reach to probable customers via tools like internet marketing, online publicity and online product reviews
and thereby increase the customer acquisition.
Quality control: Use of computerization ensures that human errors are avoided . Supply of products of good
quality can be ensured. There will thus be no requirement of having another organization to exercise quality
control, resulting in saving of manpower. Large variety of software is available to cater for all types of
requirements. Most suitable type can be procured to achieve desired results. Customers can be easily
influenced by providing good quality products on time with no problems.
Delivery Speed: Earlier businesses had most of the work done manually. Due to this the time taken to
deliver any service or product was high. Technological innovations have automated most of the business
processes and the speed of delivery has gone up drastically. With the delivery times being reduced
drastically, the same business can produce more in numbers in less time.
Customer satisfaction: When a business is able to deliver good quality product, gives excellent customer
service, within the delivery time limits, it gives you a happy customer. Every happy customer would in turn
provide your business with many more customers by simple word-of-mouth promotion. The advantage of
word of mouth promotion surpasses all other forms of advertising as it is a genuine review by a customer.
Business and Technology have a symbiotic relationship and help each other flourish successfully.
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