Business Functions Online
No longer do you need to know how to run a business in its entirety. The modern business world has progressed to the point where the idea and its associated spin-offs may just be enough. All business functions can now be accessed online and in a manner that will arguably make many an MBA graduate obsolete.
Digital transformation is essential
What we have learned from the last year and half is that being able to work from anywhere is not only possible but also essential. What is essential, however, to ensure the working world can continue to go round even when working from home, is that business operations are available online and on digital platforms.
While digital transformation was driven by the COVID-19 context, it has been accelerated by the results, which include cost cutting and productivity across teams and sectors. The use of digital technology is not something new, and many employees were already drawing largely on digital platforms in their day-to-day operations. Whether this was payroll and scheduling or more professionally integrated HR services that are becoming automated, the trend is leading to time and money savings across the business sectors.
Cloud-based business activities
What has been transformed is not necessarily the technology, but how it is being used and maximized. Process automation has become more important and cloud-based activities are growing exponentially. The cloud computing marketis expected to grow by more than 17% by 2025, which translates into an industry worth more than $800 billion within the next few years.
The integration, connectivity and customization made possible by cloud services and cloud computing has made it a growing and essential element of most businesses. The imperative to partner with organizations across the globe hasmade digital transformation synonymous with business priorities for many organizations.
Using cloud-based services also means lower costs and fewer in-house hardware demands for businesses. Not having to invest in large and expensive servers that will store data and platforms is a significant advantage of cloud services and allows businesses to prioritize their operations and invest in direct product or customer-related activities rather than periphery IT services.
Meeting customer demands
As more customers conduct their interactions with businesses online and through their mobile devices, the demands have become more pressing, urgent and require immediate turn around. This is not always possible without automated and digital services. If your customer base is also based across the globe, communication and customer engagement require round-the-clock support and moving business functions online becomes a necessity.
As more customers also become more vocal and are using social media to connect with each other and with businesses, being transparent and accountable to your customers becomes more important. If you are able to harness digital business functions, this could not only ensure good customer service but also build customer loyalty and build customer communities.
Rather than wait for your customers and partners to demand greater digital activities, leverage the current trend towards digital and cloud services to get your business ahead.
Already, more than 60% of organizations have shifted their business activities to cloud-based platforms. If you are not part of this statistic, you are failing to understand your customers and future trends in their expectations.