Advantages of New Technology in the Workplace

Posted by Nehal Preet on November 29th, 2020

Technology is always evolving, with new software constantly emerging to solve complications and inefficiencies that companies may not even be aware of yet. Business leaders can sometimes feel overwhelmed in the face of so much shift - there’s often a desire to stick with current technology and processes rather than rocking the boat.

But the standing quo threatens innovation, and stagnant companies put themselves in danger of failure. By investing in cutting-edge technologies, you’re buying growth. And you’re empowering employees to keep up, and get ahead, in a fast-paced world.

App Development Company Toronto, Real Estate Mobile App Development Company

Here are five areas of new technology brings advantages to the workplace:

1. Speed, Effectiveness, and Agility
The goal for any brand-new office technology is to speed up workflow processes, giving your employees the ultimate resource - more time - to focus on the important work.

Businesses best their competitors by being able to respond to data, adapt to modifications, and make informed decisions quickly - new technology and analytics give them the tools to do so. Your business simply can’t afford to move at a 1998 or 2008 pace in 2018.

2. Storage and Sharing
Employees should never have to waste time looking for files, docs or details, yet studies show that nearly 20% of the workweek is wasted searching for information - a major inefficiency that costs businesses money. Technologies that streamlines information storage and expressing is vital not only for efficiency, but also for security.

Outdated technology puts your company’s confidential information at risk, and models you up for an expensive data breach - considering that the average cost of a data breach is definitely .62 million.

3. Mobility and Remote Connectivity
With the growth of the freelancer economy - freelancers are expected to become the majority of the U.S. workforce by 2027 - and many companies adopting flexible work-from-anywhere policies, workers need to be able to access technology systems remotely. Implementing the newest technology allows institutions to connect with the best talent, all over the world, instantly.

4. Automation
Another advantage of new technology is certainly that it allows companies to automate functions that previously needed employees. Jobs like data entry and analytics, bookkeeping, and contact management can be partially or completely automated, which allows businesses to work more efficiently without the risk of human error.

Those cost savings can be invested in human being capital that show the biggest ROI - higher-level employees that innovate and drive the company forward.

5. Communication
There’s a reason that computers replaced typewriters, emails replaced papers mail and faxes, Slack has replaced (some) emails: Communication is king. Companies are constantly looking to improve and accelerate communication, and new technology is built with that need in mind.

Investing in new techniques will help to streamline both internal and external communication - with clients and vendors - so that everyone is always in the loop.