What are the Types of Business Technology?
According to Business Technology Standard, “Business technology is a strategy for organising and coordinating technology management across the entire enterprise. It is a set of management practices, tools, organisational structures and technology governance designed to ensure that the use of technology is optimised across the enterprise with the overarching aim of satisfying customer needs and expectations. Most businesses understand that they need to challenge not only their competitors but also themselves in order to constantly improve their customers’ view and their ability to meet market demand”.
Benefits of Business Technology
- Increased productivity
- Increased and faster communication
- Lower business costs
- Increased work efficiency
- Larger business reach
- Increased business security
Top 7 Most Common Types of Business Technology
- Computers (desktop and laptops)
Coming in at number one for the topmost common type of business technology are desktop computers and laptops because computers are equipped with the necessary modern Software and information that helps facilitate almost all business activity.
Most commonly, either Dell or Apple computers in business settings, this piece of business technology is not only the most common but the most necessary because, without computers, almost all other common types of business technology become obsolete.
2. Computer Software
Computer software, as defined by ScienceDaily, is “Software is a program that enables a computer to perform a specific task, as opposed to the physical components of the system (hardware). This includes application software such as a word processor, which enables a user to perform a task, and system software, such as an operating system, which enables other software to run properly by interfacing with hardware and with other software. Practical computer systems divide software into three major classes: system software, programming software and application software, although the distinction is arbitrary, and often blurred”.
While computer software can refer to very technical programs, it also refers to Software everyday employees use such as Microsoft Office Suite and Skype.
Networking is simply the linking of computers for interactive work purposes such as storing data, sharing documents, and communicating via email. Networking can also be commonly known as ‘wireless internet’ or ‘wifi’. This is crucial not only for internal purposes but can be used to externally grow the company.
4. Telephone Communication
Telephone communication refers not only to the telephone itself but also to telephone voicemail systems. Having been used for decades, telephones provide instant connections between coworkers, partners, and clients. This allows companies to provide speedy and reliable customer service that ultimately helps companies stand out from their competition. Zima Technology Solutions comments on the current use of telephone communication as a business tool stating, “There are now business telephone systems that come with a variety of features to fulfil the needs of a company. VoIP, Voice Over Internet Protocol, has become extremely popular, allowing users to make phone calls using the Internet instead of the traditional analog phone system”.
5. Accounting Systems
Debitoor defines an accounting system as “the system used to manage the income, expenses, and other financial activities. An accounting system allows a business to keep track of all types of financial transactions. This includes purchases (expenses), sales (invoices and income), liabilities (funding, accounts payable), etc. It is also capable of generating comprehensive statistical reports that provide management or interested parties with a clear set of data to aid in the decision-making process”.
Always remember to check with your accounting department or financial advisor before purchasing an accounting system, as they vary by the needs of the business.
6. Inventory Control Systems
Inventory management and control are crucial for any e-commerce business and thus requires a top-of-the-line inventory control system. According to BigCommerce, “an inventory control system is a technology solution that manages and tracks a company’s goods through the supply chain. This technology will integrate and manage purchasing, shipping, receiving, warehousing, and returns into a single system.”
7. Customer Relationship Management Systems (CRMs)
As defined by one of the world’s most popular CRM services – Salesforce – a CRM or Customer Relationships Management System is “a technology for managing all your company’s relationships and interactions with customers and potential customers. The goal is simple: Improve business relationships to grow your business. A CRM system helps companies stay connected to customers, streamline processes, and improve profitability.”
CRMs can be utilised across the board in marketing. For example, marketers can use a company’s CRM data to accurately target current clients or exclude them from campaigns to find new clients.
- BizFluent: “Simply put, business technology is any form of tech that is integrated directly into the operation of a business. Having a TV in your waiting room likely wouldn’t be considered business technology, but a streaming TV channel that your company develops and distributes the content for very much would. The difference lies in the business integration; it’s the difference between a piece of technology being present at your place of business and a piece of technology being an active part of your business”.
- Sofigate: ” Business Technology as a concept describes all technology that helps an organisation run its business and operational processes. That technology can be customer-facing applications and solutions, business-critical production and logistics solutions, or back-office financial systems, among others. Whatever its use, all this technology should be managed professionally”.
- TechTarget: “Business technology (BT) is the ever-increasing reliance on information technology by businesses of all types to handle and optimise their business processes“.
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