Role of technology in simplifying business management
Published: 2023-04-18 05:39:27

Unprecedented changes call for rapidly significant actions. The chaos of the pandemic accelerated technological advances to drive business decisions from start to end. Agile methodology, cloud adoption, enterprise SaaS and more – all these changes have, in part, been due to several business challenges arising every year. 

Whether managing [cloud solutions](https://www.fingent.com/cloud-application-development/) across your enterprise or building a strong SaaS suite for your business portfolio, the role of technology cannot be undermined. In this context, the concept of technology business management (TBM) has emerged as a reliable practice.

For today’s digital businesses to thrive, fostering alignment between people, processes, and technology is important. To increase efficiency, reliability, and agility, C-level leaders will need to think of collaboration and integration of IT in an enterprise-wide manner. Now that brings us to the question: Is a digital technological transformation up your alley? Let’s find out why a technological facelift is a must for making your business processes simple, streamlined, and sustainable.

What role does investing in technology infrastructure play as an enterprise-wide practice? 
It may well be the superpower and driving force to achieve long-term business success. 

1. Helps manage projects more effectively:  Business teams, no matter where they are located, bank on robust technologies to tackle and monitor the lifecycle of various projects. To effectively capitalize on various technological capabilities and manage projects, managers must have the business experience to know processes and technological acumen. This helps them to identify which program implementations will save time and money apart from enabling optimized workflows. Additionally, more visibility into where technology spending is going means more opportunity to eliminate waste, reallocate it to other technology needs, or apply it to other parts of the business. 

2. Ramps up productivity effortlessly: To encourage collaboration and maximize efficiency, managers can leverage technology to drive employee productivity and enable optimized business outcomes. By facilitating better communication workflows with robust technology tools, managers can 

3. Helps measure costs and optimize spending: When technology spending is carefully monitored, it helps businesses take stock of costs and consumption and their role in contributing value. This helps businesses recalibrate their IT budgets to meet business goals, ensuring a strategic approach to bring business value.

4. Plays a pivotal role in ensuring business security: As digital tools are mushrooming by the day, the importance of digital security has also increased manifold. The same technology that has helped modernize business operations poses an inherent security risk and potentially exposes sensitive information. Instances such as the Log4Shell vulnerability and SolarWinds attacks are testimony to the increased cybersecurity attacks. Even as businesses worldwide are racing to implement modern-day tools for their everyday operations, they also have an added responsibility to safeguard data-critical business information. A robust cybersecurity plan that helps businesses fully understand their data processing bandwidth allows for sensitive data access protocols. It minimizes the chances of data misuse by bad actors is an absolute need of the hour!

A Harvard Business Review article mentions how CEOs could do themselves a world of good if they have an end-to-end view of the digital threats and opportunities facing key parts of their business. This would help them understand how digital is reshaping the competitive landscape. As we enter the new year, change is the only constant, especially in a post-pandemic digital landscape.  Business leaders are embracing change to make way for rapid innovation changing how we communicate, buy, and do business. Here are the top technology trends we think will make some noise throughout the year!

Multi-cloud environments: A tailor-made approach to cloud adoption is the first step toward business success. As teams across different geographic regions leverage the cloud for better collaboration and optimized business revenue, it is equally important to adopt a multi-cloud approach to make the best of multiple cloud providers.

Managed security providers: Data security services are designed to protect critical business data from undesired access and mishandling and secure files from accidental deletion and duplication. In this context, the role of managed security providers becomes crucial in handling challenges related to data authentication, encryption, and password management. 

IoT: IoT solutions will help build a hyperconnected business world designed to improve efficiency, save production costs l, and fuel innovation. The premise is simple – A massive network of interconnected decisions will lay the foundation for greater security and superior decision-making.

Web3 and blockchain: No conversation in 2023 would be complete without a mention of the Metaverse. Expected to reach $800 billion by the middle of the decade and $2.5 trillion by 2030, the Metaverse has infinite possibilities ranging from simplifying remote working models to enabling an increased social media presence.