Communications Technology Is More Efficient
Instead of a multi-lined traditional phone system, networking and computer advancements allow individuals to communicate through Internet connections. In the past, businesses telephone conferences were held in large rooms allowing everyone to communicate over the speakerphone. Face-to-face meetings are still generally regarded as preferable. But if that scenario isn’t going to be convenient due to scheduling issues conferences can be held while employees are out in the field or otherwise offsite.
Using Voice-over-IP technology allows for a greater selection of telecommunications without being tethered to the local phone company. This ability breeds competition driving service fees lower for communications. In order to differentiate services, companies offer services such as file sharing and remote VoIP access in order to receive business calls on your personal smartphone.
Efficient Business Practices Saves Money
Moving to a Paperless System
Depending on the kind of business you operate, it’s feasible that you can do so without purchasing a single sheet of paper. Thanks to email receipts, digital signatures and document sharing through the Internet, you could very well develop a business model that is sustainable without using consumable products. This saves money in terms of ink, paper, hardware and time while providing digital backup and recovery of important documents.
Moving to Virtualization
Virtualized networks save businesses tens of thousands of dollars annually by integrating Internet access with applications and operating systems. Instead of purchasing servers, network storage devices, software and protective hardware, many businesses operate by streaming information directly from a data center.
Not only do these facilities offer less upfront costs to the network infrastructure, but they provide an excellent disaster recovery plan in the event of an emergency. Instead of worrying about data stored in a business server during a fire or flood, the information is saved off-sight allowing businesses to continue functioning even if the business office itself has been compromised.
Online Business and Sales Continue to Increase
Retail eCommerce Sales Could Double by 2020
According to Satista, it’s possible that online purchases of retail goods will reach as high as $649.5 billion by 2020. This is almost double of the $325 billion in sales for 2015. As more organizations realize the importance of online commerce, the market continues to expand. This has paved the way for new business ventures based around warehouse efficiency, and shipping systems to revolutionize the way things are packaged and shipped. Amazon is already testing the use of drones in an effort to provide same-day shipping. This gives consumers more selection for purchases as opposed to what’s available in the local area. This also provides a greater scope of customers for businesses even if the establishment is located in a rural town.
Social Media Marketing Proves to Be Effective
Social media and SEO marketing sites offer a myriad of possibilities for targeting specific individuals. In some situations, you can target users by his or her biometrics when developing advertising. This may greatly increase the likelihood of making a sale. These metrics could include age, gender, location and more.