Pandemic boosted the business digitalization way faster we thought
What are the main changes since the pandemic has started?
If you run a business, most probably you are faced with several difficulties. These could be related to your employees, customers, and the product or services that you deliver. But thanks to the technologies that we have, solutions for almost every problem exist, and even multiple solutions per problem.
For example, a lot of people started to work from home, or have a mixed schedule for work, some days they work at the office and others from home. Therefore, all that we need to work from home, we had several years before, but there wasn’t any reason to switch to work from home.
Another example is how entrepreneurs started to deliver their products or services to customers.
Before the pandemic, some companies used to allow their employees to work from home. Just 30 percent of employees from the USA worked from home before the COVID-19 pandemic. The transition from office work to remote work was a real challenge for many companies.
eCommerce has become a great opportunity for customers. They could easily do any online shopping, they could do their grocery also, and use delivery service. For all of these, they could pay online. Moreover, if you have a software application for your business, you may get some feedback from your customers and better understand their needs. Being always connected with your clients, you could improve your business marketing strategy, and even the quality you deliver to your customers.
Each payment, money transaction could be done using different platforms that allow you to do it. Invoicing applications might be in demand. Using an invoicing digital tool, you could create invoices for all your customers. You track the services and products you deliver and the amount invoiced for them. And the benefit for you and your company is that all the invoices are stored in one place, you do not need a separate database for it. As for invoicing, there are also many platforms and applications for any money manipulation you have to do.
Let’s think about how fast things changed and how the pandemic boosted business digitalization way faster than we thought. Business digitalization could take years, but due to it happening in the time of months. Of course, still, not all entrepreneurs have digitized their business.
Since the pandemic started, all of us, moved toward digital services. Thus, companies and industries responded to our necessities. The survey results, done by different organizations, prove that due to the COVID-19 crisis, the digital interaction between customers and companies was accelerated. As a reference, you could see the McKinsey & Company survey on how COVID-19 has pushed companies over the technology tipping point—and transformed business forever. Therefore, the average share of digital customer interactions has increased by 20 percent in a few months, while it was expected to take three or even four years to get such results.
Could it be considered a digital revolution?
Certainly, a pandemic accelerates the rise of the digital economy. If we compare the digital transformation before the pandemic, and during the pandemic, there will be no doubts about it.
Why is business digitalization important and why you as an entrepreneur should consider digitizing your business if you haven't yet?
Nowadays, going digital is the right way to keep running your business, no matter what.
Yes, that’s true, you can save money. By improving the operations, you get better efficiency and fewer costs. It's already known that automated processes are more efficient, and digital solutions have come to increase your business effectiveness. Moreover, machine learning is quickly developed, so feel free to implement sophisticated machine learning tools to save time, money, and innovate your work processes.
Digital innovations represent an important driver for the digital transformation of your business. It generates new opportunities for existent business, creates new business ideas and models, and opens new markets. Therefore, entrepreneurship is boosted and noting how things are going, the scientists could research and improve technologies we are using. It is an indispensable lifecycle of innovation. So, to get involved in the process of creating a better future, we need to innovate and implement digital solutions. Do not hesitate, and become one of the future creators, just by implementing any of the digital tools in your business.
Improve customer experience
Customers are very important for your business. You have to take care of them, and try to improve their experience. Using different software applications you could interact easily with your customers, monitor what is in demand, and therefore, meet their needs. Also, digitizing your business, gives access to your services/ products from everywhere, and anytime.
There are a bunch of advantages to going digital. There is just a shortlist of them.
So many times I have mentioned efficiency in this blog. What is efficiency, and why it is needed for any business process? Efficiency is important, as it means great results in a short time, and automating at least one of your work processes, speeds up the results getting. It also means less waste and more focus on activities that will generate a better income.
Surprisingly, since working from home, the employee’s productivity did not decrease, it has increased. Looks like digital transformation is going to change the future of how work will look.
From the security point of view, you are ensured that your business is running anyway, anytime. And that is great. Also, you do not have to be afraid of cyberattacks, because now, software tools are more prepared for cyber threats. Also, you could inform yourself how to protect and behave in an online environment.
Your customers will be happy, as you can better understand their demand and meet their expectations.
Having the opportunity to monitor data and analyze it faster, helps to make the right decisions faster and to act accordingly.