How Is Technology Improving Business Efficiency?
In the modern world of business, achieving higher levels of efficiency is one of the key goals for any organization, regardless of its sector of operations. It is a fact that the business environment in 2023 is extremely challenging and highly competitive.
The recent increases in inflation in many Western countries have led to businesses looking for ways to improve all aspects of their operations so that they do not have to increase their prices as dramatically (which can lead to lower revenue streams).
Today, business takes place on a truly international stage thanks to the rapid rise of e-commerce and companies must ensure that they remain competitive with other providers who may not be located in their country. Many organizations seek to improve their business efficiency by using the latest technology to give them an advantage.
In this article, two examples of how businesses are adopting the latest tech to improve the efficiency of their operations will be discussed.
Less Downtime Through Microservices
When conventional applications or software programs need to be modified, upgraded, or maintained, this can often lead to significant amounts of downtime and a loss of services for the end user. This is because most old software programs were built as a complete singular product.
Complex software can be monolithic, and it can be extremely time-consuming to make changes to parts of the software, as reciprocal changes may also be needed. This is why many leading companies are using microservices instead of traditional software architecture.
Microservices are software programs that are split into parts, each of which has a specific function within the overall program. When changes need to be made the part of the software can be withdrawn from the stack and this leads to a far more efficient and timely way to undertake updates and modifications.
Cloud Software and Video Conferencing
In 2023, the benefits of remote and hybrid models of work are beginning to be fully recognized by businesses.
Recent statistics show that 77% of remote workers find that they work more efficiently and effectively from a home office. This is because remote working allows significant amounts of time to be saved from not needing to commute to a corporate workplace.
In addition, remote and hybrid models of work allow employees to gain greater control over their work-life balances, as it is far easier to plan time for home-based activities when working from this location. Millions of employees find that they are more motivated by the flexibility of this new way of working and this leads to improved levels of productivity.
Companies now recognize this, and many seek to capitalize on the efficiency gains that can be realised from hybrid or remote models of work.
Technology plays a key role in achieving effective remote working. The use of cloud-based systems allows employees to log on to applications and programs from virtually any location if they have a reliable internet connection. In addition, modern video conferencing applications are commonly used to ensure that teams stay in contact with each other, and meetings can function effectively without needing to be in one physical location.