Technology of today is far more elaborate than it was in the 1900s. Instead of paper-roll calculators and mechanical cash registers, business owners are able to track and process variable payment methods in a fraction of the time. Detailed reports regarding sales and finances are but a touch of the finger away. Data collection is automated providing users with pertinent information to make better decisions regarding the business as well. As technology continues to advance, business processes are faster and more efficient saving organizations a lot of money.

Payment Processing

Mobile technology and device integration allow cashiers to accept a wide range of payments including credit and debit cards from the convenience of smartphones and tablets. Instead of a bulky machine which makes a carbon copy of the credit card itself, a simple swipe across a card reader is encrypted and transmitted creating a greater layer of security compared to that of yesteryear. According to Vision Payment Solutions, cards, e-checks, ACH transfers and EBT are just some of the capabilities of online businesses working to assist eCommerce and local brick-and-mortar establishments. This isn’t including the ease of creating coupons, discounts and recurring billing transactions.

Detailed Reports for Better Decisions

When it comes to building a strategy concerning your business, more available data can assist in making important decisions. Through Point-of-Sales systems, transactions are immediately recorded within an app allowing managers and business owners to see product trends and purchases in real-time. This provides transparency for the company and may reduce losses in regards of man-hours as well as failed product promotions. Superior data can make all of the difference when it comes to the success of the organization.

Automated Integrated Shipping Platforms

When it comes to shipping products to companies, today’s technology takes a great deal of the legwork out of packaging and purchasing. Through pre-determined shipping prices and weights, you can process the entire package from the business establishment and mail it almost immediately. This reduces the time spent at the shipping service allowing you to get on with other important business. Since integrating these systems within the eCommerce solution is seamless, you can choose almost any local carrier without spending a great deal of time setting up accounts.

Easier to Use Mobile Transactions

Mobile sales have continued to climb each year with new technologies making the process easier. According to eMarketer, global sales for eCommerce could reach as much as $2.35 trillion by 2017 with mobile user baseline numbers rapidly expanding. This platform allows virtually anyone to purchase goods as long as there is an Internet connection present from nearly anywhere in the world. As more than seven billion mobile devices are activated worldwide, it’s one of the main driving forces for eCommerce owners to incorporate easier websites and applications for consumers.

With each advancement in technology, business becomes easier with greater possibility for profitability. By automating various processes, employees are able to concentrate more on things such as customer relations and greater productivity. Do what you can to incorporate this technology in your business platform and experience for yourself how much can be saved in time alone.

By Kar

Dr. Kar works in the interface of digital transformation and data science. Professionally a professor in one of the top B-Schools of Asia and an alumni of XLRI, he has extensive experience in teaching, training, consultancy and research in reputed institutes. He is a regular contributor of Business Fundas and a frequent author in research platforms. He is widely cited as a researcher. Note: The articles authored in this blog are his personal views and does not reflect that of his affiliations.

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