Some decades ago, you would see people on typewriters and using landline phones for communication. Whenever an employee wanted to communicate with another person within the same company, it meant standing up and walking to the desk of that person. Email and HipChat messages did not exist. Technology is evolving rapidly and it is affecting every business process operations. It has affected how companies hire, budget, market their products and protect all their investments. In business operations, technology has offered both intangible and tangible benefits. It has increased the productivity of workers, promoted interdependence between industries and accelerated economic activities. Here are the major impacts of technology on various business process operations.

Productivity

Technology has improved business process operations, development of new products and the development of worker skills. Put differently, technology can increase productivity in almost every business process operation. The development level is debatable but most technologies, including email communications, are easier and faster. Practice management software and online customer services have increased productivity and minimized personal attention in all business areas without affecting the customer experience. Perhaps, you already know that practice management software application in professional firms is high. It includes legal software, accounting software and medical software.

Acceleration

Whether it is through airplanes or online data transfers, technology has accelerated business processes operations. Processes that would take many weeks some years ago through mail or face-to-face transactions can now end in a few seconds. Online money transfers, web purchasing and sharing of documents via the internet has accelerated production cycles and made capitalization, production and product sale and distribution faster. From a production standpoint, technologies acceleration has helped companies to meet their customer demands within a short time and to provide all the necessary tools.

Global communication

Companies are now able to communicate with each other easily and transfer their resources to any part of the world in less time. That means that they are able to do businesses with suppliers and customers from any part of the globe. Availability of internet video conferencing and global economic data has made businesses operations feasible. It has also made the opening of businesses in various part of the world more like opening a business in the neighbouring town. Technological advancements have facilitated interdependence and integration though improved communication, transportation and logistics.

Product development

Technological innovations have influenced consumers to demand new products. That means businesses have to continue adjusting their production operations to match the increasing demand. Businesses have integrated new technologies such as computers and software packages in their daily operations and production cycles. That has helped them produce new products of higher quality such as electronics. Any business that is driven by the demands of its customers for convenient technological services and new technological goods manages to compete depending on the adoption of new technologies and the speed of innovation.

Risks

Adoption of new technology comes with many benefits but it also presents many risks. For example, if your employees are not trained to use a new system or they do not have the necessary skills, you should expect the productivity to reduce. Employee satisfaction will also below. The fast migration of personal and corporate operations data to online databases has made companies vulnerable to cyber-attacks. Cyber-attacks are known to affect most business process operations adversely or even the shutdown of a whole business.

The adoption of new technology is high in all industries. That has transformed almost every business process operation for better growth. Increased automation and technological advancements have improved production processes. Unfortunately, technology has introduced many risks such as cyber-attacks and reduced employee satisfaction.