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Slide 1: Co-relation Of Business And Technology In today's world businesses have come a long way. With technological advancements at the current pace one cannot possibly keep business and technology apart. To be successful in any business appropriate usage of technology could be the key to success. Initially businesses used technology to only lower costs. Now, it has been discovered that reducing costs is just one of the advantages that technology has to offer to businesses. The various advantages that technology has offered to businesses are as follows: Reduction in cost: Operating expense can be reduced by computerization and modernizing various procedures. This will utilize less manpower. Use of a lot of stationery like pay rolls, ledgers, vouchers, etc will be avoided, thereby saving a large amount. Lesser number of persons will be employed and they will be held accountable. Augmenting profitability: Use of online technology has helped in increasing the sphere of business and made it more economical. A large number of people can now be contacted centrally. The cost can be reduced by routing products through a major central hub. Increase in customer base: By including technology with business one can have a much wider customer reach to probable customers via tools like internet marketing, online publicity and online product reviews and thereby increase the customer acquisition. Quality control: Use of computerization ensures that human errors are avoided . Supply of products of good quality can be ensured. There will thus be no requirement of having another organization to exercise quality control, resulting in saving of manpower. Large variety of software is available to cater for all types of requirements. Most suitable type can be procured to achieve desired results. Customers can be easily influenced by providing good quality products on time with no problems. Delivery Speed: Earlier businesses had most of the work done manually. Due to this the time taken to deliver any service or product was high. Technological innovations have automated most of the business processes and the speed of delivery has gone up drastically. With the delivery times being reduced drastically, the same business can produce more in numbers in less time. Customer satisfaction: When a business is able to deliver good quality product, gives excellent customer service, within the delivery time limits, it gives you a happy customer. Every happy customer would in turn provide your business with many more customers by simple word-of-mouth promotion. The advantage of word of mouth promotion surpasses all other forms of advertising as it is a genuine review by a customer. Business and Technology have a symbiotic relationship and help each other flourish successfully. gold coast search engine optimisation