Japan is on of the most technologically advanced countries. In fact, it exports technology to different parts of the world. The country had disappeared from economic forums when the stock market crashed in early 1990s, however now even market leaders agree that Japan is far ahead in the race when it comes to tech.
It's even better than America, according to Michael Sekora, a brilliant physicist and top former U.S. Defense Agency executive. He says, "Those who think that America is doing better than Japan view things solely in financial terms. That is at best a very limited view and they are not looking at the substance of economic competition. What matters ultimately is technology. Japan has continued to perform superlatively on that measure. America's performance has been disastrous."
Japan's economy has grown by leaps and bounds in the last few years and a lot of credit for this goes to technology, which allows businesses to achieve economies of scale and reduce costs.
According to a report, "Japan is currently facing a situation in which there is a growing relative scarcity of engineering talent at all levels as demand outstrips supply."
While the country imports labor, it has found a better solution by replacing humans with robots.
The world is rapidly adapting to the advancements in technology. Not only does using automation or technological devices save on time, it also help reduce the cost in the long-run. This is why Japanese products are of such high quality and are in demand all around the world.
The benefits of technology as a replacement of manual labour are many; risk of human error is almost negated, productivity increases tenfold as the company is not dependent on human capacity, it is faster and easier as it only requires a software or engineered solutions and helps save money as well.
However, you need a lot of investment for this to be a reality, which is a major reason why many businesses stay away from being technologically advanced. However, when you look at the complete picture, you will realize how it actually helps save money.
With the right kind of technology and understanding of its benefits, it's very simple to use it to your own advantage. The one-time cost of investing in a machine or software paired with regular maintenance is lower than the amount you'll spend on manual work.
Here are five ways businesses can save on money when they choose to convert to a tech-based system:
1. Cloud Computing
By using online platforms to save your data and programs rather than depending on the computer's hard drive, you can save on a lot of time, effort, and money.
When everything is digitized, there is less demand for IT personnel to maintain and handle important work. As it is expensive to hire IT personnel, purchasing the required equipment, and paying constantly for its maintenance, cloud computing is a cost-effective and convenient alternative. You can think about moving to cloud solutions like Azure. Learn more about Azure Migration Services and Azure Windows Virtual Desktop.
The company can also choose to cancel their subscription at any given time.
2. Automation
With growing technologies and machines, human power can easily be replaced. Depending on the task, the company can choose to use automation to fulfill their goal rather than investing heavily in human labour.
With the advent of automation, companies can now invest in machines that would only need maintenance from time to time to fulfill the same work for half the money and time.
Robots have already replaced humans in different industries. In fact, we have a restaurant in Japan that's completely run by robots. Many predict we're moving towards a future where such occurrences will be common.
3. Easy Communication
Rather than spending thousands on air fare and organizing conferences, businesses can have a video conference through online platforms such as Skype, Google Hangouts, and RingCentral.
Teleconferencing is an easier way to communicate with employees or other businesses who may be dispersed across the world.
It is also used a means to market products and connect with potential customers who can ask questions regarding your company and services. Instead of hosting and paying for a physical event, a web-based seminar makes it easier for you to have that event in the comfort of your office.
This helps save money you'd spend on organizing an event. Plus, employees also do not have to travel to attend a meeting, which saves even more money.
4. Digital Marketing
Traditional marketing methods work but they're very expensive. You need to be smart and use technology by turning to digital marketing.
There are several options when it comes to online marketing. You can use social media platforms, Google Adwords, and other such tools to reach a wide audience. You can market everything online, from linear actuators to clothes to medicines.
The only thing you need to be careful is the medium. For example, if you're promoting a product related to business then LinkedIn may be the right choice since it houses professionals. Similarly, Instagram can be a good option for fashion related items.
What Should I Do?
Businesses need to use the latest technology but it's easier said than done. You will face trouble, especially from employees who may not be very open to the idea of trying something new.
It's natural. We don't like change. We get used to doing something in a specific way and change can put us in an alien environment. You must explain the benefits of being technologically advanced to your employees so that they're more willing to adapt to the latest tech.
In addition to this, you must provide the right kind of training so that they have no issues in using the latest gadgets or other such tools. It may be a little while but you will eventually see the benefits in the form of reduced costs.
