Today there is more communication through technology than ever. Companies use email, social media, and wikis on a regular basis. This means more access to the companies for consumers and more information available for employees whether it is new products, company information, or private business. There are many ways in which companies are effectively using these technologies such as social media, in using social media such as Facebook companies are able to effectively address their consumers with information and product details while employees are to more effectively collaborate on projects.(Locker, 2008) Wikis are also a good tool for employees to access information regarding the company they work for and allow employees to collaborate on projects while reducing the amount of email and confusion on status. (Locker, 2008) Telepresence allows for personal meetings without leaving the office. This saves millions of dollars for corporations in travel expenses and meetings never have to be delayed due to flight mishaps or weather issues. (Locker, 2008)
There are drawbacks to all of these technological advances though, such as the cost to set up a Telepresence system. Though these systems generally pay for themselves in a few months the initial cost may be as high as one million dollars. (Locker, 2008) Wikis and social networking sites may give the employee or even the consumer too much information, adding to the confusion rather than alleviating it. (Locker, 2008) All in all though these technological advances have helped to improve communication on all fronts be it with consumers, investors, or employees.