How Technology Can Save Your Business Time And Money? As you all know that how advanced widespread and vast technology is going in today’s developing time, and when you utilize technology for your business, then you will be able to save both time, and money.
Of course now, you are eager to know that how technology can save your business, money and time. So, to understand the concept of this question, it is very important for you to know that what basically technology is? And what is the purpose of technology?
Table of Contents
What is Technology?
As, you all know that, technology makes this world a better place, or you can say that by using technology you are free to live your life in a better way, because it helps to make your life easier.
Basically technology is defined as, “the science or knowledge that put into practical use to solve problems or invent useful tools.”
Or in simple words you can say that, the application of scientific knowledge to practical aims of human life.
What is the Purpose of Technology?
The main purpose of technology is to enable the effective sharing of data to address some of society’s biggest challenges and help individuals and organizations, be more innovative, efficient, and productive.
How Technology Can Save Your Business Time and Money?
Here, I am going to tell you some interesting ways, which helps you to save your money, time and business using technology. You will surely be amazed like me, that how you can use them.
Of course after reading these ways, which I am going to tell you below, surely you will find the answer of your questions.
Artificial Intelligence Technology Can Save Your Business Time and Money
Artificial intelligence, is defined as, “the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions is known as Artificial intelligence. It is one of the best and smartest way to reduce your business cost.
- By using AI you can save on employment costs for your companies employs, because their work can be done easily by computers. So, then you can use this money elsewhere in your business for investment. For example, you can hire employees in your company, who are highly skilled, intelligent and appreciative of your company.
- As, In 2018, according to Accenture analysis, it is estimated that only in 18 months, insurers can save $7 billion by using artificial intelligence, which is equal to $1.5 million in operating income for every 100 full-time employees.
Remote Working Technology Can Save Your Business Time and Money
Remote working is also called distance working or Tele working. And it is defined as,” the practice of employees doing their jobs from a location other than a central office operated by the employer is known as remote working.
- Now, I am going to tell you that, how by using remote working you can save your time.
- For example, if you work at your home and your employer’s office is some miles far away so, then at that time you are remote worker.
- As, in COVID situation researchers found that on average, those peoples who are working remotely, they save an average of 49.6 minutes per day.
- This means that in mid march, since the onset of COVID, people have saved more than 4 days (4.13) from commuting.
e – Learning Technology Can Save Your Business Time and Money
Basically e – learning is an abbreviation of electronic learning. And in simple words it is defined as,” the delivery of learning and training through digital devices such as computers, tablets, and phones that are connected to the internet” is known as e – learning.
- Now, of course the question that arise in your mind is that, how e-learning helps you to save your time and money. So here I am going to tell you the answer of this question, that comes in your mind, with the help of best example.
- In my opinion, Virtual University is the best example of e-learning, which is Pakistan’s first IT based university, which provides education in easy way to the students at their homes only through internet.
- And one of the best advantage of this University is that, it saves the transportation cost of students.
- And the other advantage is that, it has no fixed time limit, that you can easily take your recorded lectures at any time whenever or wherever you want .So, in this way e-learning helps you to save your money and time.
Cloud Computing Technology Can Save Your Business Time and Money
It is defined as, “storing and accessing of data and computing services over the internet is known as cloud computing.
If you send emails, through online services, play games, listen music, watch TV, and store files, so, behind all these, cloud computing is found.
- Basically cloud computing is the delivery of computing services, which include servers, storage, networking, software, database, intelligence and analytic. These all services are available through internet.
- Now, question is that, how by using cloud computing you can save your money? So, answer is that those companies that use cloud computing, they doesn’t have to spend money to purchase and setup hardware and software.
- Instead, these companies are taking advantage of online cloud computing services to run their businesses at very low cost. You have to pay as much as a user uses the resources of this service. This shows you that this service is budget free and very friendly.
Online Banking Technology Can Save Your Business Time and Money
Online banking is also known as internet banking, home banking and web banking. It is defined as, “the electronic payment system that enables you to conduct a range of financial transactions through the financial institution’s website is known as online banking.
- Or in other words, you can say that, when you access your bank account and carrying out your financial transactions through the internet on your smart phone, tablet or computer is known as online banking.
- You can save your time using online banking. Now, obviously the question that arises is that, how you can save your time using online banking? So, for example when you went to bank to pay your any kind of bill.
- So, at that time you had to stay in a long line for very long time, which wasted a lot of your time. But now in the modern age of technology by using online banking, you can easily pay any kind of your bill from home.
In simple words, the summary of all these above ways are as follows. These all ways tell you that how you can make your life easier and better, and also can save your value able time using technology. And you can grow your business by investing them in a better way.
Frequently Asked Questions
From where the word technology comes?
Basically, ‘technology’ is a Greek word that comes from the word ‘tekhno’ and ‘logia’. Greek people when talking about systematic treatment, then at that time they use a word tekhnologia. And when this word comes in English language, so logia is changed with logy, so by combining it becomes a new word which is called technology.
How Technology make your life easier?
As you all know that, technology makes your life easier, advanced and more comfortable.So, now I am going to tell you some examples, which shows you that how much your life become easy using technology.
- Your communication becomes convenient and easy
- You can identify the criminals by their fingerprints
- You can access a lot of information with only one click by searching on Google
- You can use LCD projectors and LCD screens in the class rooms
- You can print paper using printer, so, now the standard of your life is increased by using technology, and also many diseases can be cure.
What are the examples of cloud computing?
There are many examples of cloud computing, but some of them are given below:
- Google drive
- Drop box
- Face book
- Hub spot
- Sales force
- Adobe marketing clouds
- Google docs
- Amazon web services
- Slide rocket
- IBM cloud
What are the advantages of online banking?
There are many advantages of online learning but some of them are given below:
- Bill paying
- Tax paying
- Transferring of cash to vendors and suppliers
- Opening of new loan accounts
- Business loans applications
- Credit cards or lines of credit
- Deposit cheques
How large business can save money?
There, are many examples by using which you can save your money, some of them are as follows:
- Reduce your appointments
- Understand your customer in a good and standard way
- Get the best deal for your work
- Stop paying employees, who show poor performance
- You have to buy more and more goods
- Don’t interfere in traditional marketing
First of all i am very thankful to Allah Almighty, that (Alhamdulillah) I complete this article. Hope so you enjoy during reading these interesting topic, that is (How technology can save your business, money and time). Thank you
Written By Warda Binte Zahid