Written by Reginald Chan on June 22, 2020

Technological Innovations That Have Transformed Business

Technological innovation has been the driving force behind business throughout history but advancements in the last two decades have really transformed the way businesses operate. Online services, communications, and software are an integral part of every one of our business operations and have enabled big companies to fully synchronize their multiple business locations. Even small businesses use an enormous amount of technology in their day to day operations that would have been unthinkable in previous years. In this article, we explore three of the most innovative technological developments that have transformed modern businesses.

1. Cloud-Based Digital Signage

Digital signage has a huge number of benefits for all kinds of businesses and organizations as they can be used as digital menus, to advertise products and services, to create a seasonal atmosphere or announce upcoming events, and especially to advertise new promotions or sales. Traditionally, shops, restaurants, bars, and other establishments would just use paper posters or banners to announce special deals and promotions but digital signs displayed on giant monitors provide far more effective messaging. Whilst these have been around for a few years, businesses with multiple monitors or even multiple locations are now using cloud-based services to synchronize all their digital signs. This has opened up a huge number of avenues that were previously closed to businesses. 

To understand how it works, consider the Black Friday Sales. Previously, retail businesses would have had to prepare all of the promotional material weeks in advance in order to get it designed, printed, distributed to the various stores which would then have had to be decorated. The experts at www.yodeck.com/raspberry-pi explained that with the introduction of cloud storage linked to digital signage devices, businesses can upload a huge range of multimedia advertising material, seasonal branding, and eye-catching promotional banners, and with just the click of a button, display it on all the monitors in every one of their stores. Not only does this save a huge amount of time and money, but it also enables businesses to instantly change from one promotion or season to the next without a massive overhaul of each individual store.

2. Web Conferencing Technology

Web conferencing technology has totally transformed the way that businesses communicate with their clients, employees, and business partners. Modern companies use web conferencing technology to hold international or inter-organizational meetings, to conduct training programs simultaneously in multiple locations, and to host webinars and workshops. Whilst major corporations have been using web conferencing for quite a few years, the CoronaVirus Pandemic made the use of web conferencing widespread amongst companies of all sizes and areas of business. In every country in the world, companies were forced to shut their offices and their employees tasked to work from home, and web conferencing provided an ideal solution for companies to stay operational whilst lockdown and social distancing measures were in place. 

It is often difficult to predict which technological innovations will become mainstream, particularly in business applications, but it seems very likely now that the success of web conferencing during the CoronaVirus Pandemic will lead to a major shift in business culture. Many businesses were previously skeptical about whether levels of productivity could be sustained if the majority of their employees were operating from home, but it seems inevitable that this will become more and more common in the coming years.

3. Automated Warehouse Systems

The incredible rise of Amazon and other enormous e-commerce companies has revolutionized the world of retail. These days as much as 25% of all purchases are made online and that percentage is increasing every year. Whilst Amazon is often criticized for the working conditions in its warehouses, these criticisms may eventually become irrelevant as automated warehouse systems are becoming increasingly popular and widely used. 

These warehouses totally cut out any need for humans at any stage of the retail process chain. The customer chooses their products online, the retail company’s computer systems identify which of their warehouses is closest or most convenient to ship the product to the customer, and then the product is packed by robots. For now, at least, the product still has to be delivered to the customer by a human delivery driver, but this may change in the future with the development of driverless vehicles.

The advancements that are being made in every area of technology are truly incredible and there is no aspect of our lives that aren’t constantly being affected by innovation. Technology has become such an integral part of our businesses that even small companies rely heavily on it for advertising, communications, and orders. As technology becomes more and more advanced, it is fascinating to predict how the face of business will change as we move into this new decade. 

Article written by Reginald Chan
A meticulous entrepreneur by nature and a serial entrepreneur. Founded a few awesome startups including Marketing Lancers, WP Maven and TheMarketingHuddle.com. Reginald is a sought-after success coach, digital marketing consultant and TEDx speaker from Asia. Currently, he teaches others how to make money online for free.

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