What is Business Technology?

Technology is transforming the environment around businesses in all industries, moving from the back room of an organization into the hands of consumers, employees, and society. The importance of technology and automation in business is becoming more and more evident as a result of shorter development cycles, innovative business models, and increased competition. This implies that effective use of technology is crucial to corporate success.

All technology that supports an organization’s business and operational operations is conceptually referred to as “business technology”. This technology can include, among other things, back-office finance systems, business-critical production and logistics solutions, and customer-facing applications and solutions. Whatever its purpose, all of this technology needs to be handled with care.

We approach business technology using best practices, principles, and tools that can help any area of an organization or company get the most out of information technology. The following is how we define the components and functions of business technology:

Business Technology Components

Emerging technologies are hastening the business transformation of firms, which necessitates agile business and process development as well as governance that is forward-looking. The IT team’s assistance, the organization’s commitment, and the staff members’ desire to pick up new skills are all necessary for the implementation of new technological solutions and working practices.

In order to communicate with consumers, partners, and workers in a networked multi-channel environment, businesses must have a consistent digital frontline as a result of digitalization, which opens up new business options.

Traditional IT must evolve into the technological pillar in charge of managing and developing digital solutions in close collaboration with the business core. IT organizations are the ideal partners to help and consult other organizational units in business technology management due to their years of knowledge, optimized processes, and ready-made solutions.

Today, technology is present in many areas of business. This technology frequently operates outside the typical CIO and technology function’s purview. Each business is unique, and each industry will naturally use different types, locations, and amounts of technology. Customer interface technology, product technology, operational technology, and business process technology are the four separate categories of technology that we define.

There are many different technologies, some of which overlap and some of which are distinct, in each of the four technology domains:

Technology for Interacting with Customers

Customer contact technology is centered on the user experience. Digitalization of client-facing operations and services is the core of customer interface technology. Digital initiatives, therefore, have a clear and immediate influence in this area. Reviewing end-to-end client journeys is necessary in order to improve or integrate these technologies. The company should make sure that its strategy is not limited to just digital channels when these solutions are established. This restriction can work as a short-term tactic. However, as was already mentioned, digitalization is a much bigger subject and requires a more comprehensive approach.

Product Innovation

Information technology is integrated into the company’s goods so that it may be controlled, monitored, and/or interfaced remotely as well as constantly interact with its surroundings. Therefore, not necessarily the entire product itself, but only the technology portion of the product that satisfies these criteria, can be considered product technology. For instance, while a lawnmower by itself may not meet these requirements, the embedded technology that allows for remote control and operation in a robot lawnmower satisfies the concept of product technology. While customer-facing technology opens the door for communication with your customers, the technology that powers your product—be it a financial product, electronic items, or professional services, to mention a few—often delivers the true value to your customers.

Operational Technology

All information systems for controlling, running, and watching over automation systems and other “shop floor” systems are included in operational technology. Even more than before, information technology is advancing in this field. Today, many manual or low-tech processes, like servicing an automobile, begin with an information technology-enabled check. What was formerly a wholly human process is now aided by operational technology, like in the case of a wheel alignment machine with laser assistance.

Organizational Process Technology

Company process technology, or BPT, refers to the systems that support regular business activities and are used for managing business processes and carrying out business transactions. Customer relationship management (CRM) and enterprise resource planning (ERP) are well-known examples of business process technology.

The Next Step in Digital Transformation is Business Technology

According to numerous studies from the top research institutions in the world, the shift to a digital economy is the major worldwide trend that businesses anticipate will have an impact on their operations. All businesses must undergo this transformation, and it won’t be successful without more than simply cutting-edge technology.

One aspect of business technology is digital transformation, and effective management of business technology enables organizations to translate digital ideas into effectively managed information technology.

What is necessary for the transformation?

More than just modernized technology solutions are required for a successful digital transformation. A corporation must reinvent its methods of operation in order to generate new business and establish itself as the market leader. A business must successfully implement:

Revised Procedures

Business technology processes are being redesigned using expert yet approachable design principles to assist organizations in discovering new methods to automate both current processes and create wholly new ones.

New Skillset

To integrate the adoption of new technology and processes into the company, people must be trained to think and work in the new environment.

New Digital Technology

Using cutting-edge technology to streamline user experience for customers and automate company processes

Best practices for open-source business technology

A dedication to transparency and sharing is the best way to move forward in today’s fast-paced, digitalized society. Businesses across all sectors are revamping their operations and digitizing their workflows. All development activities are focused on improving the user and customer experience as well as automating processes. Is your business prepared for the change?