Technology has brought several improvements in business. It has brought concepts of automated solutions. The benefits of technology are beyond expectations. It helps improve productivity, revenue, customer relationship, ease of storing and accessing information reduces human error by automation, etc. However, knowing this much does not help conclude. Therefore, let us discuss a few technologies, which affect the cost of living.
1. Cloud Computing: Cloud computing is the storing and accessing data and programs over the internet, instead of your computer’s hard drive and data storage. Question remains the same, how does it affect the cost of living?
- Cloud computers reduce staffing costs. The staffing cost in the organization is usually high. Because IT professionals are expensive. With cloud computing, everything comes with the package. If there is a malfunction in server or other hardware in cloud computing, it is their responsibility to repair or upgrade it. It does not cost our business anything.
- Also, cloud computing reduces the cost of hardware. Business does not need to spend much on equipment, which can be very expensive. Cloud computing helps reduce the cost of equipment in case of moving out business to another location.
2. Customer relationship management software: Customer relationship management software (CRM) is a software that has different applications to help businesses manage clients, contacts, customer data, marketing, contracts, sales, etc. It is normally used to manage business-customer relationships and it can be used by businesses of any size. Question remains the same, how does it affect the cost of living?
- CRM software helps businesses eliminate the possibility of misplace invoices. CRM helps store all invoices and make you chase the bills, which are pending. Therefore, it will help you decrease liability. CRM software is a mixture of many software. Every software has its yearly subscription fees. Therefore, instead of paying for every software and increasing expense, CRM only asks you once a year for a subscription.
3. Business-to-Business integration: Business-to-Business is not a new technological concept. It has been in existence since the 1960’s. It is the integration, automation, and optimization of key business processes that are outsourcing. A good example is receiving orders from customers electronically instead of mail. It makes it easy for businesses to confirm order details quickly with accuracy. B2B integrations also connect external suppliers electronically, which makes it easy for businesses to track down shipments, portfolio of warehouse or distribution centers, and automate warehouses, etc. But, how does it help reduce cost?
As you read above, B2B integration helps keep track of everything electronically, which reduces the need of staff. Therefore, less staff less expense on staffing.
By now, I guess you understood how important it is for technology to grow. Technology mentioned above are just examples of how tech reduces cost. If you go deep into this topic, you will find more technologies that help in managing the cost of living. Investment in technology is considered a one time investment, once you pay for it and then you could use it forever and it never fades away because it can always be upgraded. We @Cloudploys provide help with such software, which will help you keep track of everything in business and reduce cost. We @Cloudploys personally develop these types of software in the best interest of our clients. Stay tuned and contact @Cloudploys for more.
