• Advances in technology give businesses more options and cut costs.technology image by Stanisa Martinovic from Fotolia.com
  
  New technology --- from the latest cell phones to computer hardware upgrades and social networking websites --- make a continuous impact on the way in which people live. Businesses see potential in these inventions, since cutting-edge technology can increase functionality and make life easier for a company and its employees. Business owners should keep an eye on the latest technological advances to ensure that they're not left behind and losing out to up-to-date competitors.
  
  

Enables Travel

• New technology enables business owners and their employees to stay in touch while out of the office, whether when traveling or when on the way to and from work. The latest cell phones and PDAs allow individuals easy access to e-mails, with many phone packages being built by cell phone manufacturers to be tailored to the needs of business professionals. In 2010, wireless connections between devices have allowed professionals to turn their cell phone into a modem for instant Internet on their laptops. The result is that colleagues can communicate and individuals can work regardless of where each is in the world.
  
  

Everyday Communications Easier

• Communication within an office, and with clients and outsiders, is much quicker and easier using technological advances. Messages sent using up-to-date technology reach respondents within seconds, and result in much less waste than traditional materials such as paper memos. Advances in technology also allow more ways to communicate, which can suit a range of situations. For example, in the 2000s, cell phones with built-in conference call features have allowed colleagues to set up chats with each other, and computerized meeting environments on virtual worlds such as "Second Life" create versatile environments in which to interact with other professionals.
  
  

Save Money

• Businesses can save money by embracing new technology. Advanced technology is typically more energy-efficient for a start, so using up-to-date computer monitors, for instance, is likely to keep a business' energy costs down. For example, in 2010, using personal computers carrying advanced Intel processors can lead to a 50 percent reduction in electricity bills, according to the Small Business Computing website. Computer hardware and software upgrades, which are available on a regular basis, make existing technology more efficient, allowing businesses to save on running costs. Old equipment is more likely to break down, which will force businesses to pay repair costs, and out-of-date software will limit the productivity of workers.
  
  

Productivity Increases

• New technology makes everyday work in a business easier. Whether it's the latest computer software or improvements in document storage, employees embracing new technology have more options and often find time-consuming processes reduced. In 2010 for instance, new computers running Microsoft's Windows 7 operating system could lead employees to triple their productivity, according to the Small Business Computing website.