These include software, payment systems, computers, Wi-Fi networks, mobile devices, and more. Companies also need to protect their devices and network.. If that technology isn’t working, it can impact a business significantly.

98% of surveyed organizations say that just one hour of IT downtime costs more than $100,000. The reliance on technology means that every company is now a technology company.

This is the case no matter what products you sell or services you provide. Let’s discuss exactly why this is the case in today’s world.

What Makes Technology a Backbone of Any Business?

1. Technology Is a Critical Part of Business

Even farmers use tech to check commodity prices, sell livestock, and keep their books. Most companies couldn’t operate without their software. Or without databases filled with important information.

IT downtime is so devastating for this very reason. Remember the breaches impacting global meat producer JBS and Colonial pipeline? Those companies had to halt operations because of ransomware attacks.

They both paid the ransom to their attackers so they could begin operating again. Without the technology that’s become a normal part of our day, a lot of companies would close.

2. Customers Expect an Excellent Digital Experience

Customer experience came in first in a survey of top business priorities for the next 5 years. Nearly 46% of respondents said it was at the top of their list.

If a customer has just one bad experience with your company, they will likely go elsewhere. In a digital world, those experiences are often:

• Navigating your website
• Checkout experience
• Appointment scheduling ease
• Shipping notifications
• Helpfulness of online chat
• Response time from customer support
• Ability to contact your company via social media

To keep up with consumer expectations in 2023 and beyond, means you need to use technology. From your website to your payment experience, people expect a smooth digital flow.

3. Employees Need Devices to Drive Productivity

How do employees work productivity without the use of a computer, tablet, or mobile device? These devices keep staff connected to each other and your customer data. Devices enable communication and are how much of the work in offices gets done. If they don’t run well, business productivity suffers.

4. AI & Automation Help Companies Stay Competitive

AI and automation help organizations move faster. AI can personalize a consumer shopping experience. Automation can help sales teams close 30% more deals and improve conversions by over 200%.

To stay competitive, companies must integrate technology tools with AI and automation capabilities. This means they need to know the best ways to use these tools. Plus, integrate them well with existing solutions.

5. Information Is Being Generated at a Rapid Pace

Companies generate information digitally at a dizzying pace. Can you imagine what it would be like if you had to go back to all the paper files? You’d need a separate building just for all the filing cabinets.

Files, documents, and customer records are largely digital now. Keeping track of all that information and making it searchable requires technology skills.

6. Vendors/Suppliers Are Leaving Legacy Systems Behind

Think of the vendors you use to run your business. Could you interact with any of them offline only? No email, no digital documents? In most cases, the answer is, “No.”

The companies that you rely on for your business are also “technology companies” in the same way. Most will be leaving behind legacy systems like fax machines and paper documents. Thus, you need to use digital means to interact with them.

7. It’s Difficult to Grow Without Tech Innovation

People are limited by what they can mentally and physically do in a day. Computers and technology have exponentially increased that. They do a lot of the processing and manual work.

The cloud is often touted as leveling the playing field for small businesses. It allows smaller companies to leverage technology to do more affordably.

It’s hard to continue growing your business without the smart use of digital tools. This includes reviewing your technology infrastructure and looking at innovations on the horizon.

8. Business Continuity Needs

Business continuity is about keeping your company running despite any crisis events. One natural disaster could severely impact a building and everything in it. But, if you are storing your data in the cloud and using cloud software, your business can still operate.

Companies that aren’t employing backup systems are at significant risk. Tech solutions create the ability to continue operating from anywhere, increasing business resiliency.

What Does Your Innovation Roadmap Look Like?

Using technology securely and to its fullest can be a full-time job. Give us a call today, we can help take that burden off your shoulders.

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Featured Image Credit

This Article has been Republished with Permission from The Technology Press.

The post 8 Reasons Every Company Is Now a Technology Company appeared first on UniComm Solutions.

According to people like Apple’s CEO Tim Cook, the metaverse is coming. He stated that “Life without AR will soon be unthinkable.” Whether that’s a short-term or long-off prediction, companies need to be ready.

First comes the understanding of what the metaverse is. Metaverse is a general term – hence why it’s not capitalized like a proper name. The metaverse refers to a collective upgrade of the internet to a 3D virtual environment. This would be a world interconnected between various sites. These sites would reflect the immersive games that you see today.

Did Facebook/Meta invent the metaverse? No.

The idea of connected 3D immersive worlds has been around for decades. Several online gaming companies have staked a territory in the metaverse. But their applications are less interconnected.

What’s one of the best representations of the early metaverse? It’s a short-lived software called Adobe Atmosphere. This 3D immersive experience included interconnected online worlds. It also gave people the ability to chat with others. It was a bit before its time but shows how the concept of the metaverse has been around for a while.

The metaverse is getting attention now because technology has advanced. It has begun to catch up to the needs of such a world. This includes fast internet connections and immense processing power. It also includes a delivery method for 3D that works on most PCs.

Are we there yet? Not quite. But the metaverse is picking up steam. Recently, Microsoft announced a partnership with Meta. This partnership is to bring Microsoft 365 apps into the metaverse. This means collaboration in an entirely new way. Microsoft notes that 50% of Gen Z and millennials expect to do some of their work in the metaverse in the next two years.

How Does the Metaverse Impact Your Company?

With companies like Microsoft looking at the future of AR/VR, it could be a reality soon. You can expect the metaverse to touch your own company in some way in the next few years. Here’s a preview of what it may impact.

Where to Advertise

When the internet was first introduced, companies didn’t immediately realize its potential. Now, most companies wouldn’t consider operating without a website. It’s a necessity for driving leads and converting sales.

If the metaverse takes off as a new 3D iteration of the internet, it could be just as important. This means exploring metaverse-type advertising in virtual worlds. Also, potentially creating your own VR site or showroom.

How to Service Customers

As the popularity of social media took off, companies realized customers used it to reach out. Seventy-nine percent of consumers expect companies to respond to a social media message. And they expect that response within a day.

To address that need, many businesses have a social media presence. They use this for marketing and to answer questions and inquiries from customers.

The metaverse may be the next step. If people begin hanging out there, they will expect to interact with businesses in that space. Just like they do now with social networks.

This means companies need to be aware of how customers may be using the metaverse as it grows. Adding a question about metaverse use to a year-end customer survey could be a way to be proactive on this topic.

Employee Training

One of the touted benefits of the metaverse is its ability to enable more immersive training. This could greatly increase training capabilities for everyone from doctors to forklift operators.

Imagine being able to replicate a task more closely in a virtual world. A person could safely make mistakes there. Then they could grow proficient before doing that thing in real life.

Start thinking about the types of training that your employees need. Then, look at ways that a VR world may make the training safer or more efficient. The metaverse may not have what you’re looking for now. But with the pace of technological advancement, it could in a year or two.

More Immersive Remote Team Collaboration

Virtual meetings skyrocketed out of necessity during the pandemic. Now, meeting by Teams or Zoom is commonplace. The next generation of online team meetings may end up being in a virtual world.

As we noted earlier, Microsoft is already working on bringing its apps into a virtual space. Add a few avatars and an immersive setting. Suddenly, you have a completely different meeting experience.

What’s one more way to enhance remote team collaboration in the metaverse? It has to do with building design and maintenance. Imagine being able to walk through a 3D recreation of a space before it’s built. Then fine-tuning the construction while inside that space.

Is Your Business Ready for the Next Digital Transformation?

What are your digital transformation plans for the next 12 months? The next three years? If you’re not sure where to begin, we can help. Contact us today to schedule a technology brainstorming session.

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Featured Image Credit

This Article has been Republished with Permission from The Technology Press.

The post How Is the Metaverse Going to Change Business? appeared first on UniComm Solutions.