The impact of digital technology on the business world is remarkable to say the least. In fact it has entirely reshaped the business world. From small businesses to multinational organizations, companies from all over the world have either completely transformed digitally or are on the verge of doing so. In a study conducted in 2019 it was revealed that 70% of the companies have either developed a digital transformation strategy or are currently working on one. Recently, post COVID19, these numbers have drastically and the digital transformation in 2025 is expected to rise at the rate of 22.7%
Considering the tremendous advantages that information technology provides, it is not surprising to see how modern businesses are relying on it to operate various aspects of their business. Not only that, they are now heading towards a complete digital transformation. While many businesses these days are born digital, it is the digital transformation of real time companies that really showcases the impact of digital technology. Many famous multinationals from various industries have reported the positive impact of digital transformation on their business. Take for example, Domino’s pizza and IKEA- two popular organizations belonging to different industries. Both of these organizations have reported a surge in their sales through digital channels. Apart from these two, many other famous organizations such as Nike, Home depot, Target, Honeywell etc. have drastically transformed over the years.
As more and more companies are evolving digitally, the need for effective online tools and channels has also increased. There are numerous software programs on the market such as workplace by Facebook, Zoho workplace, StudioCloud, Podio and Workspee, that provide a digital interface to the companies.
Here are some ways technology and digital software programs have reshaped businesses:
Communication between plays a crucial role in the success of any organization. How the employees interact with others determines the culture of the workplace of any organization. When the employees are in sync with each other, a positive working environment is created that is extremely beneficial for a company in the long run. Mobile phones, chat apps, video calling, emails etc. break communication barriers, allowing employees to swiftly get in touch with each other. Companies are now also using collaboration and communication software programs that provide a virtual office interface where all the employees can get in touch with each other.
Strong communication between the employees results in better collaboration and teamwork. Not only that, communication apps and software programs Like Workspee make it easy for employees to connect with their supervisors that can lead to improved employee-boss relationships.
Increase in employee productivity and efficiency
The success of any organization ultimately relies on the efficiency of its workers. With the advent of modern technology, so many tasks that were once grueling and time consuming can now be done in minutes. This greatly improves time management of the employees, allowing them to do tasks that would take a lot of time if done manually. With their hands on so many apps and software programs that make their work easy, employees become more efficient at their work.
Apart from time management and work efficiency, there are apps on the market that improve employee productivity and creativity.
Securing sensitive business information
With increasing competition between organizations of different industries, business security has become extremely important. To prevent their competitors from stealing any business related information, companies need a secure platform where they can store all their information without the fear of them being breached. There are numerous apps and software programs available in the market where companies can store information regarding their employees, customers, financial plans, business dealings and future plans and business models. These apps are secure and allow access to selected people only. Workspee chat is one the most secure and reliable chat app for team communication and keeping track of every activity and important information.
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Improved customer relations
Customers can make or break your business. After all, it is because of them that your business is running. While customer relation has always been a very important aspect of any business, these days, the advent of social media has made it more important than ever. One glitch in your customer service and you can get defamed on social media. Thankfully, with improved digital communication, customer relations have also greatly improved and automated. Gone are the days when telephone and emails were the only source of communication customers had; now customers can reach the CSRs of any company directly via live chat on websites, Messenger or even WhatsApp. Digital platforms have allowed a smooth and swift channels of communication between companies and their customers.
Operating smooth Business finances
Financial tools have made keeping finances safe, secure and organized extremely easy. Using these tools you can keep a track of your cost and profits. You can even create budget plans and calculate your revenue. Moreover, you can even store the employee salary information stored and can generate payrolls using these software tools. Some of these software programs are: Xero, Zoho Finance, Quick books and Zen payroll.
B2B or business to business commerce means selling of products or collaboration between businesses. Modern technology has indeed revolutionized b2b commerce. Businesses all over the globe can connect with each other and outsource their business services. There are many B2B software programs available on the market that connect various companies and give them a channel to communicate.
Marketing and advertising
Good marketing and advertisement are very important in determining the success of any organization. To sell your products you need to grab your customer’s attention and convince them that your product is the best. Social media has helped many organizations to effectively market their products. You can use Facebook, Instagram, YouTube and different websites as a channel to market your products.
Managing remote work
Online communication tools and inter office platforms make managing remote work easy and smooth. You can bring your freelancers, working from home, deskless workers and remote employees together on online platforms regardless of their geographical locations. Apps like Workspee have features that connect your remote employees, providing a digital workplace that is shared by everyone.
With the digital world evolving rapidly, it has become imperative for businesses all over the world to transform digitally. Business technology has helped many organizations to get on their feet or improve their current business models. From communication to cost management, digital technology has taken over all the important aspects of the business world.