Think about it for a moment, and we are sure you will agree that your business is indeed completely reliant on tech. To show this, let’s look at some of the main uses of tech in the modern business. You might be surprised at just how many processes involve various different kinds of tech.
We can start by thinking about data storage. In the past, data would be stored on hard copies and take up filing space in the office. These days, there’s no need for hard copies because everything can be stored on a hard drive. And, if you have more data than you can fit on a hard drive, that can be stored on a cloud server. What about the problem of losing data? This can be fixed with back ups, so there is really no need to use hard copies of data and information at all. Well, actually, there is, but we’ll discuss that a little further down.
Of course, we use technology for more than just storing data. We also use it for staying connected, communicating with customers, clients, investors and business employees. This has allowed businesses to be far more flexible with various companies now favoring the idea of abandoning the face to face meeting altogether. Or, rather, embracing the digital equivalent of a video call. Many people do believe that the picture and sound quality is so clear these days it’s just like being in the room with that person. Although this too has created a few problems and we’re going to explore those issues as well.
What other tech do you use in business on a daily basis? If you are operating online or even have an online section of your company, you might be selling products using technology. You can sell products and services through your app or perhaps a website. Either way, it is a process that encourages users and customers to trust you with sensitive information such as bank details. It’s yet another way that customers can make a purchase by exchanging information rather than actual money. You have to remember that whenever you complete a transaction online, you’re not actually transferring money, you’re shifting data, and this too has led to issues.
These are some of the examples of how technology has changed the way businesses operate on the market and directly influenced how some industries have evolved. There are plenty of other examples here such as how we use to tech to interact and gain feedback from customers. Or, how we are started to embrace VR and other more advanced forms of technology in marketing. We could also explore the growth of automated technology that in the future, will massively reduce the workforce over the next few years.
However, there are some signs that point to issues with the dependence businesses now have on this technology. Here are a few of the problems that businesses have had over the years.
Failure To Launch
Hardware has a finite lifespan, and this is an important fact that all business owners should remember. Five years after the PS3 came out, customers were shocked when it started to fail. It was then revealed that a piece of hardware used in the system would only be durable for a limited number of system boot ups. So, the more you switched the console off and on, the sooner it would fail. Sony did release an upgrade for the system and even provided a service for customers who wanted their old system fixed. However, it didn’t come cheap, and it’s not the only tech that has this issue. Every piece of tech that you own has something like the Yellow Light Of Doom. This is a system failure that many people believe can not be fixed. It is usually a serious malfunction with the harddrive of the tech.
What does this mean for business owners? It means that if data or information is stored on a hard drive, there is an excellent chance that at some point it will fail. You might think that servers are immune to this issue, but actually, they are not. When you store a document on Google Docs, it is being stored on a virtual cloud and in doing so utilizing a server. There are various reports of random docs on this system disappearing or suddenly getting corrupted. That’s why businesses now rely on data recovery services to ensure that if data is lost, then it can be retrieved, as quickly as possible. It’s important that this service is rapid as any downtime for a business could leave it crippled on the market.
Next year, HBO will start to use hard copies of information once more for notable business proceedings. In 2017 HBO was hacked with thieves stealing over 1.5tbs of data. This included unreleased episodes of shows including Game of Thrones and Curb Your Enthusiasm. While this caught the eye of the general public, the hack also included personal information of the stars of these shows including phone numbers, addresses, and emails. You can imagine the danger here, and it certainly left HBO with an image problem. The thinking here is that if hard copies are used, they are more secure which unfortunately isn’t true. Hard copies are easier to both steal and lose, and so this might not solve their issue. The hackers used the data in an attempt to hold the company to ransom which failed spectacularly.
But what can businesses learn from this hack? Mainly, their data isn’t secure because you can bet that a company like that had massive amounts of security and fail safes that all…failed. As such, businesses need to be more vigilant than ever when protecting their data. Don’t forget you could be storing data that would allow hackers to target not just you but your customers. And, while it might seem like the easier answer, deciding to use hard copies might not provide the solution. Cloud servers, while vulnerable, are still the most secure form of data storage on the market today.
Losing Personal Care
Automated systems and the reduction of face to face meetings are causing industry experts to wonder whether a lack of personal care will eventually cause a reduction in demand for companies. Is it possible that eventually, customers will grow tired of talking to a machine when they call customer service? Or, perhaps that they won’t want to deal with a business that they can’t go and visit because the address displayed online is virtual? Actually, the answer is no for a few reasons. First, most companies are using this type of technology with the shared aim of cutting costs. Second, these days, it’s difficult to tell that you are in fact speaking to a machine and not communicate with an employee. Third, the benefits outweigh the issues, but there are issues here to consider. You see, according to research 55 percent of communication is body language. If you are contacting someone over the phone, you’re going to miss a lot of the meaning behind an individual’s voice. Now, you might pick up some of these little clues through a video call but certainly not all of them. That could drastically change the outcome of a business meeting.
Though again, the benefits of cheaper costs and practicality will make many business owners forget the issue. Unfortunately, the same type of tech has lead to another problem.
Outsourcing, in itself, is not an issue for business owners. Outsourcing is only a problem if the service in question is inferiors and sadly, many are. The best example of this would be an outsourcing delivery service. If you look at reviews online where the reviews for the product and customer service are glowing, except for the delivery. The delivery can cause customers to knock off one, two or even three stars leaving a business with negative reviews. Usually, this is because the business has decided to outsource deliveries to another company. There are useful and professional outsourcing services that do strengthen business models.
However, the main cause for businesses to outsource is to save money. Businesses can’t resist saving as much as they can, opting for a cheaper service and ultimately losing the brand of their business in the first place. It is tech that has opened up the possibility of outsourcing and made it easier for business owners. If you do choose to outsource, even in the yearly stages of your company, you must ensure you are using a service you can rely on.
As you can see then, despite the reliance that we have on tech, there are cracks in the service and issues that must be addressed. Tech had made business industries stronger and more adaptable, but it has also created fresh issues for business owners. It has to lead to businesses growing lazy, customers growing bored and data being left vulnerable. In the coming years, these issues will need to be addressed for businesses to continue to flourish on the market.