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 of Cost: Technology has helped mechanization of businesses. This has helped in reducing costs involved in the business. Software for payroll, accounts etc are a great help to reduce the manual labor and get accurate results in lesser time.

Profit Increase: Technological innovations have helped augment revenue for businesses. For generating more revenue we can either have more customers or the previous customers buying more. Technological tools like the internet have helped businesses advertising reach to those customers where it was not possible earlier.

Customer Increase: Technology has helped widen the customer base by using the internet. Internet offers an alternate sales channel and offers huge publicity. This increased reach helps in expanding the clientele.

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.

Prompt delivery: It can be ensured that products are delivered on time by computerization and restructuring the procedures. As a result of this the scope of business can be increased by delivering of quality goods in a lesser amount of time.

Customer satisfaction: To achieve success in business, it is most important to ensure that the product is of very good quality, it is delivered on time and outstanding after sales service is provided. Nothing will impress the customer more. He, being satisfied; will propagate about the quality and service of the products to his friends on his own. This will certainly result in bringing more business and be the best form of advertisement. It will be the most authentic review. Business and technology are co-related and can be suitably utilized for achieving prosperity in business.