5 Ways Technology is Crucial for Commerce

Unless someone sets off an electromagnetic pulse on a massive scale that fries all the electronics on the face of the planet, it’s safe to say that human beings will continue using electronic technology on the daily.

In fact, technology is only becoming more crucial to everyday life and commerce, and here are five reasons why.

1. Technology makes communicating with customers possible:

Whether it’s through phone calls, emails, or online advertising, technology allows businesses to reach out to potential customers and stay in touch with existing ones. It also works in reverse by giving customers the resources to reach out to businesses for services, products, or customer support.

2. Technology improves efficiency:

In today’s fast-paced environment, doing business “by hand” really isn’t an option if you want to remain competitive. Technology is used for everything from processing credit card payments to keeping financial records, and securing patient files.

3. Technology improves collaboration:

Through the use of technology, a group within an organization can collaborate on projects without needing to be in the same physical location–programs like Office 365 make projects and reports easier and internal communication faster.

4. Technology powers e-commerce:

Technology is needed on both ends of the transaction; for the business selling its goods and for the consumer purchasing them. And it isn’t just consumers who purchase retail online. Nowadays, even businesses are purchasing online–whether they’re ordering supplies or promotional materials, hiring a web-designer or paying for advertisements–online options and digital do-it-yourself can often offer lower prices than brick-and-mortar because overhead costs are lower for the business offering the goods and services.

Considering an e-commerce option for your business? In 2018 alone, consumers spent $517.36 billion with online retailers–nearly 15% of all retail purchases for that year. Now, 15% may not seem like much, but compare it to 10 years ago when e-commerce accounted for only 5% of all retail purchases. The trend for online purchasing continues to steadily climb.

5. Technology works to keep your business safe:

Not only do encryptions help keep sensitive information safe, technology like backups and the cloud allow for multiple copies of files to be stored in case of file corruption, physical damage to the computers or servers, or natural disasters. This can apply not only to files, but to programs, software, and settings. Using the right backup program like StorageCraft–a cloud-based service that takes an “image” of your entire computer–gives you the peace of mind that if your company somehow lost all of its equipment, all of the digital resources you use to run your business would be safe and you would be back up and running with as little down-time as possible.

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These are just a few of the ways that technology has become crucial to commerce. Technology has invaded nearly every aspect of modern human life, and while we at VIP believe there will always be a need for person-to-person interaction, adopting and integrating technology into your business can help you and your employees work more efficiently and effectively and help keep your business relevant in the age of technology.

References:
https://www.digitalcommerce360.com/article/us-ecommerce-sales/?

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