June 21, 2024

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How Technology Plays a Role in These 5 Business Sectors

With each new advance in technology, there’s a ripple effect in the business world. Perhaps an innovative new product launches or a more efficient way of operating a company is discovered. Any time there’s a change, forward-thinking people will adopt the new technology so as not to fall behind. If the new technology proves to give businesses a strategic advantage, it can become accepted as the new standard practice throughout the industry.

New technologies can be adapted for other sectors of the economy as well — it’s the businesses and investors who are quick to incorporate new technologies who gain the most from them. Finding a method to simplify a process for consumers or creating a cheaper way to manufacture what customers need will lead to new and satisfied clients and profits for those innovative businesses. Let’s look at how advances in technology are demonstrated in five businesses and the advantages they provide.

1. Investing Innovatively With MetaWealth

MetaWealth is an investment platform that uses a variety of technologies to provide investors access to opportunities that might not otherwise be available to them. One of these services is the ability to invest in fractionalized assets, such as real estate.

Taking part in real estate investing can be safe, smart, and highly profitable, but many people don’t have the capital to make a large investment. By breaking the investment down into smaller sections, investors can buy as little or as much of an asset as they like, thereby managing their risk at a level where they’re comfortable. An asset like real estate creates a passive income flow for the investor. Money is made from rent and the overall appreciation of the property’s value.

Once users create an account on the MetaWealth app, they answer a few questions about their investment goals, level of preferred risk, and the current state of their finances. They then receive an investment plan that has been personalized based on their responses. After accepting the plan, users can fund their investment accounts or link existing ones to their MetaWealth account. The app allows users to build and maintain their investment portfolio and monitors users’ investments to keep them on track with their stated goals and risk tolerance. It’s a low-cost way for investors to enter the real estate market and create a diversified portfolio.

Because MetaWealth is structured as an app, users can track their investments in real time using their phones or other mobile devices. It’s a convenient way to stay up-to-date with what’s happening with their portfolio. The app will send alerts when an investor’s attention is needed, so the chance of missing out on important changes in the market is minimal. This technology opens the real estate market to all in a fast and efficient way.

2. Using Quipli’s Software to Rent Equipment Efficiently

If your business involves renting out equipment, many products can make the process run more smoothly. Equipment rental software, like the one offered by Quipli, uses technology to optimize how customers access and reserve equipment and gives business owners peace of mind that their inventory is being handled efficiently.

Quipli’s equipment rental software makes for an improved customer experience. Users no longer have to call in or show up to a location to reserve equipment in person—they can make online reservations for what they need, which is faster and easier for everyone involved. Billing is also less complicated, as the software automatically sends invoices and processes payments.

Another advantage of software designed specifically for companies that rent equipment is inventory management. Using GPS technology, businesses can track the use of their equipment in real time. They can see what’s available and what’s reserved, and they get the equipment to the locations that need it on time. Repair schedules are kept up automatically, so there’s less downtime when maintenance is needed.

Equipment rental software works with mobile technology so businesses can manage their inventory through a smartphone or tablet app. Owners have access to the information from anywhere, so there’s never a delay in an action they need to take. The process of renting, tracking, and managing equipment is streamlined, making for satisfied owners and customers alike.

3. Streamlining Communication With Burner

Thanks to advances in technology, there are several benefits of using an app to make phone calls. Burner is a phone number app that provides users with a second phone number that’s easy to use and change. It gives people security, knowing that their privacy is being protected.

For people who want to maintain their anonymity, deal with sensitive topics, or want a temporary number, the app allows them to conduct their business safely and privately. Burner allows customers to set boundaries, deciding which calls they want to block and which they’ll allow to come through. After a predetermined period of time or a set number of calls are made, their number is automatically changed as a safeguard.

The technological advantages of phone number apps give the user several convenient options. They can store their call logs, messages, and voicemail in the cloud so they can access them from other devices. This app also integrates with other programs, so users can easily share messages and voicemails with others.

Users can create multiple phone numbers for themselves, so organizing the different areas of their lives becomes streamlined; they can have one number for work and another for personal calls. They’ll always know which kind of call is coming in, giving them the choice to answer or decline. As an added layer of security, the app also gives users the ability and authority to control what information they want to give out, so they know exactly who is getting their number and where it’s going.

4. Staying Healthy With Fitbit

Through new advances in fitness tracking technology, many apps are being introduced to give consumers better information to help them reach their exercise goals. The Fitbit app works with Fitbit’s line of wearable devices, which are designed to monitor the user’s workouts and give them real-time progress updates.

The app tracks data such as steps taken, distance traveled, calories burned, heart rate, and even the user’s sleep quality. With this data, users can set goals they wish to achieve, like their step count or calorie intake. They’ll see how they’re doing in relation to their goals and can use this feedback to stay motivated to continue on their path to better fitness. The app can also be personalized to provide coaching and recommendations to help users further.

Fitbit also allows users to connect with friends and family who use the app. They can share their progress, compete with others, and hold each other accountable. The social aspect of the app gives users a community that helps keep them focused and having fun. The Fitbit app has the technology to integrate with other health apps, allowing users to sync their progress over multiple programs they choose. Users can connect from anywhere, so their workouts are always tracked and recorded, and no information is lost.

5. Transforming the Wellness Startup World With Access VC

The market for health and wellness products that actually work is constantly growing, and consumers want companies that put their money where their mouth is. That’s why companies like Access VC are so careful about who and what they choose to invest in — they want to ensure that any brand that they’re associated with is doing its best to make the world a better place. Many of those brands and startups are changing the game in the realm of technology.

For example, Kinsa is dedicated to stopping the spread of infectious diseases using technology and predictive health analytics. Their usage of AI can change the game for healthcare professionals, helping them to plan ahead for potential spikes in cases, while risk level prediction can help families stay as safe as possible.

Oxwash is another brand backed by Access VC that’s changing the way we do laundry by making it as low-impact as possible. By using strategies like collecting laundry via electric cargo bikes and recycling the water they use for washes, Oxwash demonstrates its commitment to global sustainability — a factor that Access VC ranks highly.

By supporting startups and brands that are changing their respective fields through the use of ethical tech, Access VC is showing where it stands in the overall conversation of technology and the future.

Technology Continues to Spark Business Innovation

Technological advances allow businesses to become more streamlined and efficient by automating tasks, providing updated information, and giving immediate feedback to enable users to make better, more informed decisions. They make customer service easier by allowing users to connect remotely while also ensuring that supplies are always where they need to be. Efficiency is optimized when people and businesses can communicate freely.

Staying current with new technologies can give companies an edge over their competition. Likewise, users who quickly recognize new products and services can benefit as well. Every sector of the economy is affected by new technology, whether it be real estate investing, software to improve equipment rentals, apps to protect privacy in phone communication, or fitness tracking apps that let users achieve health and wellness goals.

Technology is constantly changing and improving, and new innovations are always being introduced, so there’s always a higher level of efficiency to be achieved. Take a minute to research what advancements could work for you or your business, and don’t be afraid to give something new a try.

McClatchy newsroom and editorial staff were not involved in the creation of this content.

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Jon Stojan is a professional writer based in Wisconsin. He guides editorial teams consisting of writers across the US to help them become more skilled and diverse writers. In his free time he enjoys spending time with his wife and children.