5 New Technologies that can Improve Business Processes

Last Updated:
August 16, 2022
Author:
Kimmy

New Technologies that can Improve Business Processes

There have been various advancements in technology over the past few years. With this comes new technologies that can improve business processes across industries. Some of the benefits of these technologies include increasing productivity, decreasing expenses, saving time, and decreasing manpower. These technological advancements offer numerous opportunities for businesses to change how they operate. Below are 5 new technologies that businesses can use to improve processes.

1. Timesheet Systems

Using timesheet application software can save your business both time and money. Better yet, these software systems allow you to track everything related to your employees, and exactly when they clock in and out. The system will use the employee’s working hours, their clock in/out times, and wage information to generate payroll information. Admin can add in personal requests, leaves of absence, reimbursements, and more to ensure accurate payroll information. This new technology helps to cut down on administrative work each payroll period and minimizes payroll errors.

2. Robotic Process Automation

A robotic process automation system has AI capabilities to handle tasks within the business. Some of these tasks include calculations, analytics, query writing, setups, transactions, and record searches. These are tasks that are time-consuming, and extremely repetitive. However, having an AI handle them quickly and efficiently can allow employees to focus on more important matters. Thereby, increasing productivity in your business.

3. Cloud-based Solutions

Having a shared computing infrastructure helps streamline working processes and projects. A cloud-based system allows all employees to access documentation and work from anywhere with an internet connection. Furthermore, all employees can easily find and submit documents with a few clicks, reducing time spent requesting specific documents from different departments. Everything can be stored on a secure network, using a log management solution for security. All employees need is an internet connection and their login credentials.

4. Rapid Prototyping

Being able to create prototypes in-house is an exciting technological development in recent years. Businesses no longer need to outsource to create prototypes for potential products, which helps to speed up the development process. The five major types of rapid prototyping are 3D printing, Stereolithography, additive manufacturing, selective laser sintering, and software rapid application development. These new technologies and machines allow businesses to research, create and adapt plans before manufacturing the product in mass quantities. This can also help businesses gain investors as you can show a physical prototype to them each time something changes.

5. Communication Applications

In the modern era, phone calls are becoming less common for communication purposes within the workplace. With this comes a rise in communication applications, with multiple functions. These apps have chat displays with upload options for files, and a call button that launches a video or audio call. Often they also have a search function, which allows users to find specific conversations or tasks without searching through endless emails. There is also the option to set groups for projects or departments, thus ensuring employees are not getting messages about things that do not concern them.

To ensure the longevity and growth of your business, you must embrace advancements in technology. Utilize the new technologies above to improve business processes and take your business to the next level.

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