This is the 5514th most frequent Russian word.
позволяющие
"Allowing" or "enabling."
Here, 'позволяющие' is used as a present participle to describe 'technologies' that provide or enable improvement in production.
Эти технологии, позволяющие улучшить производство, становятся все более популярными.
These technologies, enabling improvements in production, are becoming increasingly popular.
In this sentence, 'позволяющие' specifies the 'methods' which make it possible to reduce costs.
Мы разработали новые методы, позволяющие снизить затраты.
We have developed new methods that allow reducing costs.
'Позволяющие' functions to define 'devices' that facilitate the monitoring of water quality.