Today's era is a technical era. For sound business technology is very handy. To stay competitive company need to concentrate on new technology to boom their product or service. various software's are required for different businesses. One need to buy a software of their own need. Company need to use technology in such a way that it will cost production cost and earn more profits. one need to have a software of accounting, antivirus to free from viruses anti hacking, Sap and various other tools which are required for the business. Once you have all this use these tools in such a vital way that you can earn more profit and provide minimum efforts. Technology can be used for future prediction by measuring past performances. Technology can make work easier and more effective. So to remain competitive technology is required.
Reference
http://www.sba.gov/content/using-technology-stay-competitive
I agree with you that technology is the basic need to stay competitive in world of business. Moreover, in the diverse environment customers too demand the technologically advanced products.
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