GK
INVENTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Does not say
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None of the above
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Detailed explanation-1: -The benefits of technology in business cannot be overemphasized. It increases productivity, speed, ease of sharing and storing information, reduces human error through automation etc. All these benefits lead to lower cost structure and an increase in revenue for businesses.
Detailed explanation-2: -A clear example is moving towards digital documentation and working to make your organisation paperless. Lowering the cost of paper, ink, printing, postage, and transportation can reduce costs significantly. Digital transformation of manual, paper processes can also accelerate the speed of doing business.
Detailed explanation-3: -Small businesses spend around 6.9% of their revenue on information technology, while midsized businesses spend around 4.1% of their revenue on IT. For large companies, the percentage drops to 3.2%.