Technology plays an essential role in modern business operations, facilitating faster communication and transactions that were previously time-consuming. The advancement of computer technology has revolutionized trade practices, making businesses more resilient against disasters while enhancing data storage and retrieval. Companies that adapt to technological changes are better positioned to thrive in today's competitive environment.

1. Importance of technology in business
Almost all businesses in the world are using computers ranging from the most basic to the most
or least complex. Technology is playing a vital role in businesses over the years whereas if it
were not for its advancement all operations would slowly stop. Apparently, businesses have been
with humankind from time immemorial, from the day, man would exchange a commodity with
the other, (barter trade) to the time the currency was introduced as the universal mode of
exchange. Computer technology is playing a vital role in revolutionizing these ways of trade by
speeding up the processes which otherwise would take days or years to realize.
It is almost impossible nowadays for one to conduct any kind of business or transaction without
the assistances of technology. Therefore, the vital role technology is playing for the business
fraternity should not be overlooked. Technology entails many benefits for companies doing
every kind of enterprise, benefits felt instantly, within days or they can be realized within a short
period. Consider how people need to interact by communicating ,sending short or instant
messages and even emails. Technology is enhancing this by facilitating faster connectivity by
use of phones, computers, internet and ( voip) voice over internet protocol services. . Could it be
worthwhile to travel long distances to convey useful information or even post envelop mails that
took days or months to reach their destination.
This kind of technology allows businesses to reach clients and transact deals across hundreds of
miles with just a click of a button.
Businesses that operate within the old ways of pen and paper stands out to be more vulnerable to
disasters. For instance, thieves, forgery, fire, flooding, paper aging, or writing eligibility. Use of
computer technology makes it possible to store data safely and is also backed up using certain
storage devices to enable easy retrieval. These devices include hard drives floppy diskettes,
compact disks, memory cards drives ,USB flash drives or even sharing over a small home or
office network. Nowadays it’s possible to recover data that has been lost in whatever cases, be it
fire, floods, corrupted files etc.
During the yester years, many businesses regarded and isolated telecommunication and
networking companies. They, (Entrepreneurs) tended to assume that the later as being very much
separate from any engagements. This has not been the case as enterprenuers has come to
understand that the ought to move hand in hand with the upcoming technological advancememt.