Today’s business landscape is extremely competitive – not only has the internet allowed almost anyone with access the ability to source information on almost every topic, but the barriers to entry of doing business globally have been all but brought down. We are seeing businesses from the UK to Central Africa offering products and services online to countries in the Americas and Asia without ever having to set foot there.

Modern businesses understand how essential technology is in this current landscape, and are usually the quickest to take up new technology, putting them at an advantage compared to businesses with slower uptake. They understand how continuous investment in improving their technology can lead to improved efficiency, and ultimately increased profits. Below we take a look at three ways that investing in technology can help improve a business’ efficiency.

1) Faster and more accurate in almost every aspect, especially compared to humans

Can you imagine the state of the world if e-commerce was only supplemented by cheques? The demise of the paper cheque is thanks to banks and businesses investing in technology to provide online payments that take seconds rather than days or weeks.

By automating processes that were once carried out by humans, we see much faster transactions with almost minimal errors. For example, where one once had to go through a time-consuming process of organising meetings, booking rooms and greeting clients; this can now all be done via a mobile app linked to Pronestor booking systems in only a matter of minutes.

2) Increased productivity

Following on from the last reason, by decreasing the time spent on any process, the productivity will increase. Employees will be able to get on with more pressing work, rather than wait for simple tasks and processes to be completed.

Increasing productivity directly correlates to an improvement in an organisation’s efficiency, because whether it be a human or a machine, being able to maximise the use of your capacity allows for this. Technology can also help increase productivity by improving organisation. For example, the proliferation of cloud storage users has helped businesses focus on their core competencies, and leave the IT solutions to the professionals. For a business to be able to focus on their expertise rather than on tasks that they don’t specialise in, means that they can be more productive with their time.

3) Better communication

Rapid globalisation means that we are interacting with others far and wide now on a daily basis. E-commerce companies that once sold only locally are fulfilling orders from the other side of the world thanks to the internet, improved logistics, and such. Communication has also improved thanks to this and we are seeing businesses with multiple offices worldwide having seamless video conferences thanks to new, efficient technology.

Data and information can be shared just as quickly between a UK and Australian office as it could be between colleagues metres apart! Businesses now benefit as they can react quicker to changes and there is not always a need to physically travel to get your point across.