The use of the term “technology” has changed significantly over the last 200 years. And today technology has paved the way individuals communicate, learn, and think, the way businesses and industries are running and operating. A McKinsey, new survey has found that the response to COVID-19 have speeded the adoption of digital technology by several years- and this will pull many of the changes for long. Of which, a very appealing contact is created between the sphere and its customers, or consumers.
We can not only say that the customers have made a compelling move towards technology or digitalization, but also industries and companies have come back sequentially. This insight has shortened the barriers to entry, and has disappear the challenges of all traditional and non-traditional businesses. All these innovations constrain rapid change in behaviors and expectations of customers and present new market opportunities. However, now enterprises/companies must be ready flexible enough to systemic or unpredictable shocks and quickly adapt to real-time market demands, focusing on maximizing the opportunities there in the digital economy.
We can say “it’s not just what you know about the future; it’s also prepping for the future. This sets a future-ready company apart from ones that are not”.
- For many startups and small and midsize business (SMBs), the lack of infrastructure, huge capital investments and large teams are the biggest barriers to growth. The advent of technologies such as mobile, cloud computing and unified communications allow small companies to get around even the biggest enterprises at little cost.
- Today, many small businesses are running on a global scale, facing their bigger rivals. Investing in technology is no longer a massive. This means businesses of all sizes can be prepared and agile for new markets and customers.
- Being future-ready is a commitment to technology. More importantly, it’s a commitment to the way businesses engage.
- With an increasing number of tech tools available for virtually every business function, it’s easy for businesses to get stick in a web of tools.
- Many businesses focus so much on tech adoption that they lose sight of their real target that is customer satisfaction. While there’s a multiplication of tech solutions, you must smartly choose the ones that will help you achieve your business goals. Put the maximum emphasis on engaging with your customers, exceeding their expectations through service. Use technology to get you there.
- Future-ready businesses gear the connected world. They bring together the best talents and tools to inspire innovation. As beacuse small or big, innovation is all about driving what is next.
- And we can say Social, mobile, big data, cloud, the Internet of Things (IoT) — all of these areas are at the core of what is next. With software as a service (SaaS), platform as a service (PaaS) and infrastructure as a service (IaaS), any company can innovate, grow and succeed.
Therefore, to build and nurture a future-ready company, you need to reinvent your business process. You need to handle the emerging realities in your sector to see what lies ahead. Technology will be the force that guides you.