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Can Your Business Afford to Appear Outdated? | Formaliti

With technology now very much integrated into today’s workplaces, having updated software tools is no longer a luxury but a requirement for staff. Having the latest digital technology also affects how current clients interact with your business and whether potential clients choose to. The company next door has already made the transition to efficient document management software, which raises the question: can your business afford to appear outdated?

Technology Grows Exponentially

Technology grows exponentially, and individual consumers adapt quickly. People now expect to be able to check-in for flights and transfer funds by merely using an app. With effective document transaction management (DTM) tools already on the market, it won’t be long until the same attitudes apply to all digital documents. Therefore, it is up to businesses to be able to keep up. The team at Formaliti is fully aware of the ever-increasing digital demands the digital-arms-race has created for companies and is here to help organisations of all sizes rise to the challenge.

Digital Demands

Ever-increasing digital demands and consumer adaptability mean that your customers’ loyalty will easily be overstretched if your business doesn’t deliver the expected level of service. If digital demands are ignored, customers will have little hesitation in making the switch to your competitors to get what they want. Once a customer is lost, it becomes very tough to win them back.  Furthermore, the same digital demands apply to businesses both big and small.

Small Businesses

Small businesses must be cautious that upgrading digital methods don’t get left on the to-do list. Competing concerns might mean that upgrading to digital transaction management can’t be the number one priority, but new technology shouldn’t be forgotten. Customers choose small businesses because of their abilities to be responsive and flexible. If they lose the speed in which they operate, they risk losing customers.

Large Businesses

Larger businesses who don’t make the transition in good time are at serious risk of losing customers, who have little tolerance for large companies when they feel they are being inconvenienced. Failing to upgrade in time can lead your customers to feel let down, which in turn creates a negative brand perception.  

Roadblocks

With new technology, there are always going to be pioneers and those who are slower to develop trust. Sceptics often quote security as one reason why they aren’t yet sold on digital document transactions, but these walls are coming down. According to a poll by Nemertes Research, 45% of people viewed cloud computing as more secure than on-premises systems. Industry standards already require interactions to have a 256-bit SSL encryption, so no traffic is ever passed over the public internet in clear text. With so much trust already placed in other digital transaction methods such as online banking, it won’t be long until documents are signed and shared electronically with the same level of faith.

The Way Forward

Here at Formaliti, we have seen for ourselves how digital processes provide both customers and staff from small and large businesses, across multiple industries, with the ultimate user experience. We’ve helped numerous industries across all departments save time and money with our streamlined digital document workflows.

Get in touch with the team at Formaliti or try our 30-day free trial to experience the digital transformation within your own business.