Over the past decade, businesses have evolved considerably and there are a number of changes that have been made as a result of innovations in tech.
Travelling for meetings, both in and out of the city where your business was based, was a time-consuming aspect of any company that lowered productivity. While travelling is still a big part of businesses today, the need to travel as diminished considerably as a result of communication technology. We can now conduct business meetings with teams from all over the globe, communicate with colleagues remotely and present ideas as if we were in the same room without ever having to be. Video conferencing is a common feature of business now and even small businesses using live streaming, google hangouts and other methods of communication technology, such as a multi line phone system, to work more efficiently.
Cash flow is vital in business and if it’s slow, it can massively impact the growth of a company. It’s important for businesses of any size to get paid by customers quickly and easily, especially for smaller businesses. Online banking, mobile banking apps and payment gateways on websites have made it easier than ever to receive payments from clients and customers, which is why so many companies now integrate payment methods onto their sites. The use of banking technologies has gone from strength to strength over the past ten years and has vastly improved the ways businesses can handle, receive and invest their money.
One of the biggest changes to business technology over the past decade has been in how companies support their customers. It’s widely understood that customers are a real asset to businesses and because of the competition that companies face, it’s imperative that customer service is high on the list of priorities. Technology has provided customers with myriad options in terms of where they shop and which services they use, but it’s also benefitted businesses in terms of how they can support their customers. From social media to chatbots, it’s easier than ever for businesses to be accessible to their customers, to answer queries, help make guided purchases or handle complaints efficiently. And with the rise in artificial intelligence technologies, it’s no longer necessary for businesses to invest in real-life employees to answer questions and provide information, which is saving companies money and making processes more efficient for the customer.
Digital marketing has evolved considerably over the past decade and it’s now a huge aspect of running a business. Social media marketing, search engine optimisation and email marketing account for a big portion of business marketing activities and are more effective than traditional marketing as they enable companies to reach a much wider audience and target audiences more specifically for greater results.