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Pros and cons of technology in businesses today

by on February 26, 2019 in Latest News, Lead Article, News you can use, Nuggets, Research, Small Business

Pros and cons of technology in businesses today

Humanity has made significant leaps in the modernization of tools and continuous improvement of processes in business.

Now, customers can enjoy shopping for products online and have their packages delivered right at their doorstep.

Meanwhile, entrepreneurs can take advantage of collaboration software such as Google Drive, Slack, and Skype to boost the growth of their companies.

As with everything else, technology has its advantages and disadvantages. Here are the pros and cons of using digital tools in the business world:

Pros

  1. Automation

The primary benefit of using tools such as point of sale or POS systems and customer relationship management or CRM software for your business is that it eliminates the need for manual computing.

With this, there are fewer errors made during each transaction with the customer. It saves you money and time as these programs streamline your processes for better efficiency.

These are other tools that can help you automate specific tasks for your company:

  • HootSuite – This app is beneficial for your social media marketing as it allows you to schedule posts ahead of time and publish them on various platforms including Facebook, Twitter, and Instagram.

  • HubSpot – Aside from being a digital marketing resource, you can also create workflows in HubSpot to automate your campaigns and track their development.

  • Slack – Slack enables you to streamline communication between your team. No project gets forgotten because you can assign one channel for each one and create conversations from there.

  • Trello – This project management app helps simplify delegation of tasks using boards, where you can assign team members for that project and notify them of the deadlines and other details.

  • Calendly – This software makes scheduling meetings with your employees or clients much more manageable. You simply need to set your availability and send a link invitation where the recipient can choose the time that they prefer. Afterward, the program automatically adds the event to your calendar.

  • Xero – Xero is an online accounting program that lets you view and manage your cash flow in real time. It also has features like automated invoices and scheduled payments to cut down your accounting workload.

  1. Workforce Empowerment

By automating tedious, repetitive tasks such as manually searching the database for an invoice number or going through the inventory one by one, you let your employees focus on higher-level activities that make the most of their strengths.

You empower your workforce when you entrust to them tasks that require their critical thinking and analyzing skills.

  1. Mobility

The workplace is becoming digital. More and more necessary business operations can be done remotely. As a business owner, modernization poses a significant advantage as you can recruit the best talents wherever they are in the world and have them work for you without needing to uproot themselves from their hometowns.

There’s more freedom nowadays to structure your organization according to how you want it because physical limitations like distance are reduced with modern technology.

  1. Global Opportunities

As mentioned above, distance is no longer a substantial issue for businesses. The invention of drones and other transportation equipment reduce the challenge of shipping and delivering your products.

Today, you can promote your goods to customers from different countries and not worry about your profits getting lost along the way as payment methods have also been digitized through credit cards and electronic wallets.

Cons

  1. Threats of Cyberattack

Technology is a neutral medium that can be used for the advantage of society or a handful of people only. Some abuse it by taking advantage of its efficiency and utilizing sophisticated tools to steal data.

A major hurdle to using computers and cloud services for your business is that there’s the possibility of hackers taking financial and other important information from your website. They can infiltrate unprotected systems and use your customers’ credit cards to buy stuff for themselves or transfer money to their accounts.

  1. Substantial Investment

Modernizing your business entails buying up-to-date software and tools that cost a considerable sum, particularly for specialized equipment.

Plus, once you start going digital for your files and processes, you can expect to continue spending money on upgrades every few months or years to ensure that your data stays safe from hackers. There’s also the increasing cost of compliance as the government keeps on adding regulations to protect consumers’ information.

  1. Risks of Distraction

Having most of your processes online can expose your employees to distractions from social media and other personal activities online. Interruptions hurt productivity and can result in losses on your company resources.

Udemy, a digital learning company, conducted a survey where a majority of workers admitted that they feel distracted while at the office, which can lead to stress and unhappiness at work.

Other facts emphasized in the study are:

  • People who lose their focus at one point of the workday tend to make up for it by working faster. However, they experience higher stress levels from the time pressure and more frustration.

  • Around 36% of younger professionals spend two or more hours on their phone for personal activities each workday.

  • Around 66% admitted that they have never talked with their boss about their struggles with distractions.

  • Around 70% concurred that training could alleviate the problem by teaching employees how to block out distractions and concentrate on the tasks they need to finish.

  1. Health Problems

Aside from interruptions to your team’s thought processes, technology has also paved the way for humans to live a sedentary lifestyle.

Because most files are on the computer and almost all information is searchable on the Internet, there seems to be no need for your employees to get up from their desks, except for having to respond to nature’s call.

Physical inactivity is detrimental to their health because it increases the risk of cardiovascular ailments, anxiety, and depression. Some companies offer standing desks for their workers to encourage activity.

Others also require the members of their staff to take snack breaks and eat their lunch away from their work stations.

Conclusion

Technology has made life comfortable for workers. Using digital tools for your business enables you to finish more tasks without exerting too much effort.

Nonetheless, you should put a lot of thought before deciding to integrate new software into your company or overhauling your processes. Always consider the advantages and disadvantages of the changes you want and assess if these facilitate the growth of your enterprise.

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