Taking Your Business Digital
There are many reasons why your business may need to go digital. Digital commerce technologies can facilitate working from anywhere, expand the potential customer base for your business, help you manage your business more effectively, make your customer interactions more meaningful and convenient and improve work for your employees. Broadly, digital commerce tools include new technologies that are made possible by the internet, mobile networks and digitally-enabled devices. This includes e-commerce, which is defined as the commercial transactions that occur via the internet.
If you’re interested in taking your business digital, starting to sell your products or services online might be a good first step. You can sell through your own website, a marketplace platform or both. Learn more about selling online.
Of course, if you’re going to sell online then you also need to be able to receive payments digitally. There are many types of digital payment technologies, including credit, debit and prepaid cards, mobile wallets, QR codes and contactless payments. These technologies work through near field communication, SSL certificates and other means. Explore other types of digital payments.
Managing your business digitally
You may want to look into digital tools to help manage your supply chain and inventory. A digital supply chain can help you predict where issues might arise, and predictive tools can estimate how many units of a product you might sell. Digital accounting tools can also help you balance the books and stick to a budget.
Security and fraud
There are some additional items to consider when going digital. You will want to implement security and fraud prevention measures. And, you will have to allocate time to making sure all of your digital properties (like your website, social media channels and account on marketplace or review sites) are up to date and functioning properly.