Assessment of the Application of Technology in the Management of Small and Medium-Sized Enterprises (Smes)

Business technology tends to maximize the use of technology within the company to meet the demands and desires of customers. However, technology has also the potential to benefit management and business practices. Several factors influence an organization's decision to use new technology. Some of these factors are: to increase results, to improve the product, to reduce the dependence on specialized work as well as to keep up with the latest trends and developments. Technology is important because it can be a key differentiator in attracting and retaining talented employees. However, technology also has the potential for it the management and practices of businesses also benefit. The purpose of this study is to determine how the introduction of technology affects different business processes. Also, in this paper, we will try to identify the effects and advantages of the application of technology to small and medium enterprises in North Macedonia and Kosovo. Technology has revolutionized the way enterprises conduct business, enabling small businesses to catch up with larger organizations. Small businesses use a variety of technologies to develop competitive advantages in the economic marketplace as well as increase the productivity of their employees. Small and medium business owners should consider implementing technology in their planning process for easier integration and the possibility of future expansion. The results from this study suggest that SMEs may be able to increase their business capacity when innovations and technologies are applied.