How Technology Helps Businesses

Feb 15

car cybersecurity

Some car manufacturers are starting to offer cybersecurity services before their cars leave the factory. Honda is working with IBM to develop software that will look for suspicious activity in real time. Chrysler has offered a bug bounty program since 2015, which rewards hackers who find flaws in the company's vehicles with up to $2,500 each. Ford offers security training and consulting services through its branded University of Ford at the company's Dearborn campus. The U of F already has more than 90 percent of its faculty possessing some form of digital certificate or degree .

internet connection

The Internet allows businesses to be connected all over the world while allowing customers around the world access into that business . Online reviews allow people to read reviews about products sold by multiple companies.

Ford CTO Ken Washington states, "We need to provide our customers with a product that satisfies their needs and is secure from the time we manufacture it until the time they stop using it." He adds by saying, "It's not about stopping security flaws. It's about turning those insights we get back to coding as fast as possible so we minimize those risks for our customers." https://www.forbes.com/sites/jeanbaptiste/2019/04/20/how-technology-helps-businesses/#1a4122e51541

car hacking

How technology helps businesses now includes car cybersecurity unlike before when there were no such terms as car hacking. The world of technology now allows people to look up reviews on different businesses which helps determine the best ones to choose. Technology helps business stay connected worldwide with their customers through online access. Technology not only helps protect cars made by different manufacturers but also helps code it faster so they don't get hacked. The world of technology is expanding and more complex everyday while helping people in ways that was never possible before.

Supplier management solutions

These include e-invoicing, e-Procurement, purchase order processing. States of the art supplier management software solutions are designed to help automate business processes to reduce transaction costs and increase the speed of compliance.

Suppliers are connected to a purchasing system with full visibility of what is bought, from whom and when. In this way the supplier can quickly confirm the order and fulfillment stages through electronic data interchange even without any manual intervention.

Inventory management systems

This helps optimize stocking levels for individual products by using statistical algorithms that consider all information on sales, order forecasts and delivery schedules. Most inventory management systems integrate with accounting systems for automatic updating of stock levels based on actual or estimated purchase costs rather than on what you paid for them.

Finance department software

These help automate the entire accounting cycle from invoice approval to payment. Each transaction is checked against company policy to see if it's a valid bill to pay. The accounting software then automatically routes the invoice for approval and tracks when payments are received .