The business world stayed stagnant for decades due to the absence of technology, but now it has started experiencing changes, all thanks to the revolving technology and the deadly coronavirus (COVID-19). The rate at which technology is progressing is so fast that even if you’re not vast with it, you can get swept away.
This might seem normal to the new generation, but if only you get a time machine to travel back in time to see how things have changed, you would be impressed.
Ways Technology Is shaping The Future Of Business Start-Ups
A sneak peek into a century ago shows a lack of centralized work communication like we did today. Think of Trello, Google classroom, Slack, Skype or other applications that promote centralized work communications.
Also, it shows a lack of short videos for promoting business; think of Tik Tok, Instagram reels, Facebook reels and Business WhatsApp status.
Technology has undoubtedly changed every aspect of business you can think of, and never in history has it done so.
- The Way We Communicate
Business start-ups are like seedlings that need proper attention; think of adequate sunlight, aeration, fertilizers, and water. Start-ups need frequent communication, which could have been impossible centuries ago, but with technology, frequent communication is achievable.
Applications like Slack, Skype, Trello, Zoom, Google Classrooms, Microsoft Teams, chatbots and social media platforms promote effective communication amongst business employers and employees.
- Enablement Of Remote Working
With the shortage of labor the business world currently faces, remote working seems to be the way out of the crisis, and technology is the pioneer of such a work model.
Start-ups are more likely to experience employee shortages due to tussle between employees and employers about a pay rise and work flexibility.
With technology, startups have no reasons to worry because they can embrace the hybrid work model employees are clamouring for.
- Artificial Intelligence
Business start-ups benefit greatly from the use of technology. The use of artificial intelligence in robots can help businesses boost their productivity. Prior to the emergence of technology, most hotels and restaurants experienced low productivity due to the limited number of employees and the high number of customers.
Now, robots are used as waiters and stewards to boost productivity and reduce costs.
- Decreased Downtime
The coveted tradition of vacation amongst employees is a thing of the past. Start-ups need all hands on deck to keep growing, and vacation doesn’t help matters, but with technology, all employees have access to texts and emails via their mobile phones and laptops. Now, all employees are either actively working or passively working.
- Company Registration
Company registration is an important aspect all businesses need to pay attention to, even though it has always been a strenuous part of the business due to the time and stress of getting it registered.
With the emergence of technology, startups have very little to worry about because company registrars are deploying technology applications to reduce the time and effort required for new businesses to register themselves.
Although, this might depend on the region if they have fully embraced technology or not. Company registration in Hong Kong is seamless due to China’s effort in technology.
- Increase In Business Productivity
With technology, teams are working more closely than before. Even if all team members work remotely, they can reach out to anyone easily due to technology. During video conference calls, the use of whiteboards allows all team members to work towards a solution as if they are together in a room.
Easy access to all team members by the team leader boosts productivity for all businesses.
- The Way We Share Information
The use of technology has made it easy for start-ups to share information from one employee to another safely. Formerly, hard copies of documents were moved in bulk from one office to another, but now, all information is stored in the cloud and can be sent within seconds to any employee that needs it.
The era of waiting for ages to do business transactions is over, as we’ve seen with the emergence of technology. Initially, productivity is low in every startup due to a lack of necessary tools to bolster productivity, but with technology, all business operations are done swiftly.
Technology is shaping the future of business, and it will keep shaping it. It is now left to all business owners to get aligned with technology or get left behind.