Technology has become an integral part of all our lives, and integration continues to develop further and further for business landscapes. Given how technology has aided in the world of convenience and accessibility, it’s evident that the times are changing, and digital transformation is the future. Whether it’s making remote work easier or paving the way for improved customer and business relationships, it’s undeniable that life without technology would come to a standstill in the new normal. In fact, some businesses couldn’t have significantly risen without the help of major modern technological innovations. With this being said, we’ll discuss some of the rising technological integration among a wide variety of business landscapes in the following.
Finance
Cashless payments have become a rising trend now more than ever, and it’s proven to be a convenient way to pay for your necessities. Whether you’re going shopping, paying for bills, or dining at restaurants, several businesses are offering cashless payments as a method of payment for transactions. Customers can now use their debit or credit cards and e-wallets to close transactions, and it’s more convenient than ever. Another way you can make transactions are through branchless banking. Due to the pandemic, physical banking became next to impossible. With the help of robust online platforms and mobile applications, the majority of things you can do at the bank like open accounts, check your balances, transfer money, or request for account changes can now be done on online banking portals. Lastly, the pandemic has also birthed new online banking security that uses either face recognition, fingerprints, or two-factor authentication to improve the security of their transactions. Since online transactions are also susceptible to hacking and scams, it’s more crucial than ever for online banking to ensure security and safety for everyone using it.
Workplace Changes
Telecommuting, otherwise known as working from a different location, is significant proof of how far technological innovations have come. Businesses and organizations couldn’t afford to do remote work for the lack of resources and software to track employees from different locations. However, digital is now the future, and there are apps and tools that managers and employers can use to keep track of their employees’ time management and productivity. Today, several remote management systems keep both managers and employees accountable for staying productive and efficient in their work tasks. Online messaging platforms have also come a long way in helping companies conduct virtual meetings during strict lockdowns.
Entertainment
Entertainment is one of the primary aspects that saw a significant shift to a digitally innovative landscape. The majority of people today use social media as a form of entertainment, and not only this, but virtual events and video games have also been on the rise. As consumer behaviors underwent significant changes during the pandemic, many online streaming platforms offered consumers the option to choose when, where, and how they’d like to consume entertainment. Examples of online streaming platforms are Twitch and YouTube, both of which gamers have been using as platforms to succeed. We also have Netflix, Hulu, Disney Plus, and Amazon prime, which have taken over major cable giants in terms of audience size. There are multiple platforms nowadays for entertainment, encouraging the entertainment sector to shift digitally. This isn’t just limited to social media anymore, but now we have video games, mobile games, virtual events, Netflix, eBooks, and the like.
Widespread Digitalization
Digitalization has affected both big and small businesses alike. Even the most traditional and rigid business sectors were forced to adapt to the times in order to survive and navigate the pandemic successfully. Legal firms that relied on in-person client meetings and intricate networking have transitioned to meeting clients virtually through secure platforms like Skype or Zoom. Many retail businesses also fast-tracked the launch of their own e-commerce platforms to continue facilitating sales despite the physical restrictions in brick n mortar stores. Allowing consumers to shop online lets retailers keep their current business model and even reduces their overhead costs as many downscaled their physical locations. The real estate industry also saw a significant shift as properties outside the city limits grew in demand because workers were no longer obliged to live close to their offices because of remote work. Many real estate firms and mortgage loan companies started facilitating inquiries online and even offering virtual walkthroughs and showings.
Final Thoughts
Technology and software have clearly come a long way and significantly paved the road for accessibility, information, entertainment, and convenience in the post-pandemic world. Fast forward to today, and it’s hard to imagine a world without these conveniences.
