Companies with good digital tools and work routines have a clear competitive advantage, according to Ulrika Ledel, strategic business developer at Eurocard. Here are her best tips for companies that are ready to become digitalized.
- “I am impressed by all the brave people and companies that dare to try new digital tools and infrastructures to keep the business going, now that many industries are facing rough times. Suddenly companies are making new recruitments, completely digitally, as if it has never been done any other way,” says Ulrika Ledel.
She can see that it often is smaller companies and notes that many of them have come a long way to becoming digitalized – especially in the Nordics. She believes that more smaller companies would benefit from optimizing their routines and finding tasks that can be executed digitally to save both time and money, so that they can spend more time on developing their core business.
“We are in a digital revolution that compares to the industrial revolution and that is affecting large parts of our society. I would say that all companies profit from digitizing. Then of course the degree of how far you can take it, varies between industries as well as the individual company,” she says.
Automatic payment solutions
In payments, digital development is moving fast. Ulrika Ledel can see that when it comes to being able to receive and make payments – the demands and needs within the corporate world are becoming more and more similar to those found in the consumer market.
“There is a clear need on the corporate side of data-driven, self-initiated payment methods that handle themselves, seamlessly. Solutions to which companies can connect their products and services or entire warehouses. Sales and purchases can then be made automatically, around the clock, with customers and suppliers worldwide,” she says.
Those companies that are most successful in adapting to this reality, will have a great advantage. But what can you do now to keep up with the digital developments in payments? Ulrika Ledel has three tips:
1. Early identification of security risks
“Today most people expect companies to be able to make a real-time payment across national borders, around the clock. But behind such a solution lies a complex infrastructure that places great demands on security. It is therefore important to identify both threats and opportunities with digitization early in the process. Take help from professional partners if it feels complicated.”
2. Start with yourselves
“Your employees are your best ambassadors. Digitization should ideally permeate the entire company, towards customers, throughout your underlying systems as well as in the everyday business by your employees. Today, there are digital tools for purchasing, spending and receipt management, both as apps and web tools. These tools help to improve work routines while creating the sense internally of working at an efficient, digital company.”
3. Find partners to work with
“You don't have to excel at everything. Try to find collaborations with other companies to achieve the best digital solution for your customers. Maybe digitalization itself will open up opportunities and business models for you to offer new services and products to your customers?”