How Technology Can Enhance Your Business Model

The hallmark of any successful company is the ability to innovate and to adapt to the ever-changing commercial landscape. Modern businesses face the challenge of adapting to rapidly evolving technology, but rising up to that challenge can benefit these companies immensely. Here’s how modern tech can benefit your business.

E-commerce. The internet has been a major boon to businesses of all shapes and sizes. E-commerce is a powerful tool in any company’s arsenal, because it allows any retailer to expand its reach with online sales. Non-retail businesses stand to benefit as well, because you can also use the internet to conduct transactions for products and services that fall outside the scope of retail, such as hotel reservations or fast-food delivery. Entire industries have sprung up in the wake of e-commerce functionality, and more traditional markets have found great success in using online sales to their advantage. E-commerce business models are reshaping the way the market functions for the better.

Cybersecurity. Technology has numerous benefits, but engaging in online activities also comes with a downside. Hackers seek to steal data from businesses to turn a profit, but cybersecurity tools are available to counter all known cyberattack methods. Using these tools is an essential part of keeping your company’s data safe in the digital age. Authorization security tools such as single sign-on systems that use SAML assertions — the XML document that the identity provider sends to the service provider that contains the user authorization — can help reduce the occurrences of human error that account for 90% of all cybersecurity breaches. Network monitoring and analysis tools can give you vital information that can help you anticipate and avoid incoming cyberattacks. Using these tools effectively can help protect your company from various digital threats.

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Social Media. With an audience encompassing approximately half of the planet’s population, social media marketing offers businesses unprecedented exposure. Perhaps more importantly, social media offers a vast array of marketing tools that go well beyond advertising. Advertising is available on every major social media platform, supported by the ability to post other content to your followers for free. These free posts can establish a rapport with consumers, and they can create or support your company’s brand identity that informs other marketing ventures. Almost every social media platform also allows users to comment on posts and even rate them positively or negatively. That kind of consumer feedback is usually obtained as the result of timely and costly market research.

Remote Workers. One of the most beneficial innovations of the digital age is the ability to have employees work remotely. Remote workers are employees who perform their jobs from home via the internet. This practice is quickly catching on because it benefits both employers and employees alike. Employees enjoy working from their home office, while companies save money on the costs associated with having employees on site. This practice also increases the pool of potential job candidates, which may in turn yield more qualified workers than a location-sensitive hiring process.

Modern technology has already changed how businesses operate, and it will continue to do so. Implementing state-of-the-art technology into your business model can help you stay competitive and even get a leg up on the competition.

Kevin Devoto

Kevin Devoto
Kevin Devoto is a freelance writer who specializes on topics related to business, digital marketing, and web development.

Kevin Devoto

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