A Digital Age report revealed that 81% of older millennials found their home using a mobile device. It’s no longer surprising why realtors are eager to understand how they can leverage technology for their business.
Today, we’ll reveal in this list the top real estate tech trends transforming the industry this year and beyond. Find out how you can utilize each so that you can reap its maximum potential for your real estate business.
9 Real Estate Tech Trends You Should Watch Out For
1. Big Data
Real estate businesses deal with massive data that may be impossible to evaluate quickly using a manual process. With the use of Big Data, you can source and analyze large data sets to help you draw meaningful insights.
Additionally, Big Data allows you to understand your customer psyche, helping you learn their desired approach. When combined with useful analytics, Big Data can also help you identify the root cause of defects so that you can take the necessary action.
Cost and time reductions and smarter decision-making are also vast advantages of Big Data. It’s essential, though, to keep your personnel prepared to work with significant data resources so that you can maximize your project outcomes.
Blockchain technology proves useful for the real estate industry as it helps get rid of various structural inefficiencies. For this reason, it enhances the conduction of operations.
This tech trend helps improve the transparency of decentralized digital records and prevent the risk of fraud. Smart contracts are another practical application of blockchain for the real estate industry.
This paves the way for faster deal closing and equal commission distribution.
The use of robots as virtual assistants and chatbots grows increasingly in the real estate industry. One of the most significant impacts of this tech trend is its ability to improve the interaction between sellers and customers.
Chatbots can serve as your business’ 24/7 customer care representative. Apart from setting reminders, chatbots can also offer recommendations for your prospective clients based on their preferences.
4. Cloud Services
Cloud computing solutions for businesses have revolutionized different industries, the real estate sector included. One of its practical applications for the industry is cloud storage.
With cloud storage, you can easily access customer information from anywhere in an instant, helping improve customer relationships. Cloud computing solutions also help boost security, particularly for your customers’ sensitive information like social security numbers and financial details.
In a nutshell, cloud computing services can bring several advantages for your business including reduced costs, improved security, and increased productivity. If you have no specialized knowledge about cloud computing, you can look for a reliable cloud service enabler that can jumpstart your cloud transformation.
5. Internet of Things
Internet of Things (IoT) refers to a technology infrastructure where devices like thermostats and lighting systems are connected and coordinated via the internet to execute “smart” functions. IoT is among the real estate tech trends that have a profound impact in the real estate sector as it helps enhance consumers’ lives.
With the use of IoT-enabled sensors and real-time energy monitoring, this tech trend helps increase energy efficiency and enable predictive maintenance. You can leverage this technology to boost the confidence of your prospective buyers.
6. Mobile Apps
Mobile applications transform how real estate agencies operate. Today, customers can access information on the properties they are considering buying through a mobile app.
Not only can it help improve the collaboration between your business and customers, but it also saves time, labor, and resources. Additionally, it can serve as a one-stop solution for your customers’ issues and queries, helping resolve these things in an instant.
If you’re looking to maximize this tech trend, mobile app support will prove useful. IT companies like 天博 offer this solution so that you can focus on your core business.
7. Push Technology
Many real estate agencies that have smartphone apps are leveraging push technology. Push notification gives the advantage of sending regular alerts to your target customer directly.
This tech trend connects your potential clients with relevant information, even if they are not actively searching for it. You can use push notification to inform your customers when new listings become available.
8. Workflow Automation
Thanks to automation systems, you can do away with tedious paperwork and repetitive tasks and focus on running your business. Workflow automation solutions help accomplish communication and administrative tasks, like sending emails and processing invoices.
By automating your workflow, you can send out timely email campaigns to boost your marketing efforts and ensure quicker payments.
Virtual reality is one of the notable real estate tech trends that has transformed the industry in the last few years. This technology enables customers to tour various properties in a short time visually.
Augmented reality also allows customers to decorate unfinished spaces according to their taste and preference. With VR/AR, you no longer need to conduct several open houses, thereby reducing costs while giving your customers a personalized experience.
Technology helps enterprises across various industries globally to meet the evolving needs and expectations of customers. It’s easy to see why many companies are looking to leverage technology to make significant changes in their business.
If you are a realtor or a real estate company owner, it helps to consider these technology trends influencing the sector this year and beyond. This is especially true if you want to stay relevant and be the top choice of your target market.
Are you looking for a top-notch tech solutions provider that can help you advance your business goals? Set an appointment with our team to know how you can maximize the benefits of these technologies!
Discover which construction tech trends are making strides today, and learn how you can use them for your construction business!
Are you wondering which construction tech trends will help shape the industry in 2020? Discover which technologies are making significant strides today, and find out how you can maximize them for your construction business.
7 Construction Tech Trends You Should Watch Out For
1. Augmented Reality
Design plans and sketches are giving way to augmented reality (AR), which allows builders to automate construction processes more interactively. While this technology comes with a cost, it offers several benefits like improved efficiency, managed costs, and streamlined collaboration.
You can use AR in your construction business to create 3D models on a 2D plan. This tech trend allows clients to preview buildings and suggest changes before construction starts.
With the use of AR, you can also automate measurements, make changes, and access information directly on the site. AR also helps to improve team collaboration as field workers can seek consultation from remote team members by sharing notes and videos in real-time.
2. 3D Printing
3D Printing proves useful for the construction industry, particularly for prototyping. Compared to traditional construction processes, this construction tech trend saves resources, time, and effort.
3D Printing has transformed the construction industry in the past few years, offering more benefits like reduced injury, cheaper and quicker construction, enhanced form, and better durability. This construction tech trend obviously has labor advantages, too, over traditional building methods as workers’ shift schedules do not restrict it.
You can use 3D printing for rebuilding cities after a natural disaster and building more sustainable homes.
3. Cloud Technology
Regardless of the industry where your business belongs, you can leverage cloud technology to advance your goals. This construction tech trend offers significant advantages, including data storage, real-time job site view, advanced analytics, and reduced costs
SaaS platforms can be useful for construction tasks like plan and project management, and daily reports. Additionally, you can monitor the status of a project from anywhere in the world using cloud technology.
4. Productivity Software
System and process integration have transformed the way people work in the industry. Business and productivity software solutions offer extensive benefits for the construction sector, such as minimized delays, reduced rework rates, and improved collaboration between the site and office workers.
Workflow automation, for example, allows construction managers to reduce the risk of human error, especially when completing permits, meeting licensing requirements, and setting inspections. By automating forms, building professionals can save time and effort when completing highly detailed applications.
Robotics is seen to make a more significant impact in the construction sector in 2020. Robots are seeping its way into construction sites, from laying roads to demolishing buildings.
This tech trend is expected to help boost construction times and the quality of builds. Some tech companies are also developing robots to assist in building maintenance, such as window cleaning.
Several construction sites are already using drones, with some even relying heavily on it. Today, surveyors can use drones to inspect an entire site, saving time, effort, and resources.
Since drone technology continuously evolves, it is expected to reduce human involvement in the years to come. More companies are considering investing in this technology, too, as it grows more efficient.
7. Self-healing concrete
Issues like cracks and leaks arise after the construction of buildings, homes, and other establishments. Thanks to technology, these issues can be addressed with minimal external aid.
Self-healing concrete uses acid-producing bacteria that acts as a catalyst in the healing process of cracks. This construction tech trend is said to be more resistant to freeze-thaw attacks and increase compressive and flexural strength.
Technological advancements have driven the construction industry forward. Because of technology, we can develop stronger, more sustainable, and energy-efficient structures.
These technologies are just some of the trends making the waves in the construction sector today. By using them effectively, it’s more likely your business will make a significant impact.
Are you looking for a cloud service enabler for your construction business? Our highly-skilled IT experts can help you with your cloud computing needs. Get in touch with us today to know more!
Companies that want to overtake their competitors should consider these retail tech trends. Discover the technologies that can help your business level up.
Digital transformation continues to influence customers’ shopping experience and expectations. It’s easy to see why many retailers are embracing retail tech trends that help shape their business’ future. Let’s take a look at seven technologies that can help transform the retail sphere in the next few years.
9 Retail Tech Trends Businesses Should Consider
1. Augmented Reality
Augmented Reality (AR) for retail allows customers to engage with products. For instance, certain apparel brands have been using AR technology to let their customers see how they would look in their products.
Customers can take photos of themselves with virtual products and share them on social media, too. This user-generated content helps promote brand awareness for the merchant and motivate conversations.
Even without making a purchase, customers can still help the merchant by providing free advertisement through the content. Merchants can then gauge which products attract the most engagement, allowing them to personalize and boost customer shopping experience and increase conversions.
While big data collection is a non-issue for most retail organizations, analyzing the data they have is often a challenge. Data analysis is crucial for retail businesses, especially if they want to address issues or come up with better solutions.
Here’s where predictive analytics play a crucial part. Today, retailers can analyze previous consumer trends and behavior to understand better what their customers need and want.
With this retail tech trend, retailers can cater to their customers’ needs based on their journey and personalize their experiences. Put simply, predictive analytics help transform retailers into more cost-efficient, smarter ones.
3. Omni-channel Retailing
Omni-channel retailing pertains to retailers with both a physical store and a multi-platform digital presence. With this retail tech trend, customers can have a cohesive experience at every touchpoint.
With omnichannel, retailers become omnipresent in several channels. They can sell their products or services on an e-commerce website, mobile application, a relevant marketplace, and a physical store.
Then, all of these things are integrated on the back-end. Customers can now add items to the cart using a mobile app, buy them on the desktop, and receive the item at home.
A reputable mobile app development company like 天博 proves helpful when it comes to maximizing Omni-channel retailing. It hires highly-skilled technology experts that deliver top-notch mobile application development that can cater to retailers’ needs.
4. Internet of Things (IoT)
The Internet of Things (IoT) also helps revolutionize customers’ shopping experience. Today, customers demand personalized experiences and relevant information that can help them make better purchasing decisions.
Some retailers are using IoT to monitor customer satisfaction. For instance, color-coded buttons are connected to sensors to collect customers’ feedback right after they shop.
5. Recommendation Engines
Recommendation engines are also helpful for retailers. By using this technology, they can help customers find relevant items for their needs.
It’s also useful in filtering options for customers in their shopping journey. Another great thing about recommendation engines is they improve over time as more data becomes accessible to the retailer.
It’s easy to use as well, helping enhance customer satisfaction and increase sales. Spotify and Netflix are just two of the best examples of companies that use recommendation engines.
The retail sector also sees an increase in the adoption of customer service bots. Nowadays, customers prefer messaging over calls, making AI bots more relevant and valuable.
Chatbots, for instance, help enhance the customer journey by addressing issues even without human intervention. This retail tech trend offers a great way to bridge the gap between customers’ offline and online experiences.
7. Face Recognition
Facial recognition helps combat retail crime. Not only that, but this tech trend also paves the way for a personalized shopping experience.
For instance, retailers can use facial recognition for responding to their client’s specific needs. While privacy concerns are yet to be ironed out, several retailers already find this technology beneficial for their business.
8. Robotic Store Assistants
Robotic store assistants are changing the retail landscape as well. They can do several things like help shoppers find stuff they need and even provide in-store customer service.
While some retailers see it useful for enhancing workflow and productivity, it’s still important to consider whether your target market is ready for one. Developers may have to draw a visible line between machines and humans.
9. Stock Management
Automation can help enhance warehouse inventory management. Today, you can track your inventories in real-time using inventory management systems or robots.
Not only do they help supervise your stocks, but they also assist you in making smart decisions. As a result, you prevent wasting your goods due to spoilage or theft.
While it may take some time to adjust to the digital shift, it’s a wise decision to consider these retail tech trends for your business. Almost everything evolves, and innovation proves beneficial for companies that want to stay on top.
We are offering technology solutions you can find useful for your retail business. Get in touch with our team today to know more!
Day-to-day operations and activities have been disrupted since the COVID-19 became a global health concern. Here’s how technology can help.
When a disaster or crisis strikes a nation, people’s initial reaction is anything but calm. For example, when the Wuhan coronavirus disease (COVID-19) reached the Philippines, people crowded supermarkets and grocery stores to panic-buy.
While fear and anxiety are common reactions to these circumstances, it’s essential to know: What’s the best thing to do?
In dire situations such as health emergencies, taking immediate, informed action is critical. Lucky for us humans, there are tools we can use to respond to crises and disasters as quickly as possible.
Technology, for instance, gives you the chance to communicate much easier, respond to emergencies faster, and stay productive amid the chaos. Take a look at these five helpful ways to use technology in times of an emergency.
5 Ways to Effectively Use Technology
1. SMS for Emergency Notifications
At the onset of a natural disaster or a health emergency, the public should be informed. Today, you have multiple means to get the word out: traditional media, social networking sites, phone calls.
But when it comes to sending critical information in a quick, reliable way, SMS proves to be an excellent option.
Here’s why: 98% of text messages are opened, and 95% are read within the first three minutes. More so, people do not need an internet connection to receive your message.
When notifying people of emergencies through text, it’s important to keep your message short, clear, and concise. Include only the most crucial details like a phone number to reach for assistance.
Also, include your organization’s name so the public can identify where the message is coming from. In the case of COVID-19, government agencies can launch text blasts for news updates, latest developments, and official announcements.
Providing the public crucial information — where they should go, what they need to do — is key to minimizing risks and dangers. SMS providers like Mobile360 offer solutions that can help organizations reach millions of people at once during an emergency.
2. Cloud Technology for Disaster Relief
Disaster response teams need to gather crucial data before they head out and respond to a crisis. The situation’s severity and its geographical focus are just some of the things they need to know.
But here’s the challenge: Often, these data are huge and complex. What makes it even more challenging is the fact that response teams need to access these large data as quickly as possible.
Simply put, disaster recovery units need a highly accessible, scalable, and reliable system to optimize their operations. And this is where cloud technology steps in.
Cloud services help facilitate the access and transfer of these data among key players during disaster relief. Also, they help organizations prevent critical data loss, and scale their platforms like apps or websites to handle heavy traffic.
3. Mobile Application for Crisis Management
Mobile applications are essential during crises — and for a good reason. Both public and private organizations can use them to send health emergency or disaster-related updates and alerts.
Amid the COVID-19 pandemic, techies around the world developed mobile apps to aid in the situation. These apps deliver real-time alerts and track transmissions related to the disease.
For instance, South Korea launched a mobile app called Corona 100m (Co100) on February 11. The app alerts users when they are within 100 meters of an area visited by a COVID-infected person.
Meantime, in Colombia, President Ivan Duque announced the launch of CoronApp-Colombia. The app allows users to register their families and friends, record their health status, and receive prevention tips.
With these mobile apps, governments can help prepare their constituents and prevent the spread of COVID-19.
4. Web Application for Business Continuity
When a natural disaster or a health crisis hits, many businesses are forced to close down or stop their operations. Not when you have a business continuity plan, though.
Obviously, there’s not much you can do when your business is confronted by a natural disaster or a health emergency. But while these things are out of your control, you can minimize its damaging effect on your business.
Here’s how: Begin with developing a solid business continuity plan and keep your e-commerce site up and running. You should know, however, that you need to consider several factors — risks, for example.
Additionally, you need to identify whether your team is ready to fulfill orders and communicate with customers effectively. Otherwise, your e-commerce site may not be able to achieve the results you’re eyeing.
In a nutshell, an e-commerce site can let you accommodate transactions your physical store can’t, helping ensure business continuity. However, you need to make sure you’re ready to handle the demand given the circumstances of an emergency.
5. Productivity Tools for Remote Working
When a health emergency threatens workers’ health and safety, it becomes essential to impose a more flexible working scheme. Many private entities, however, fear this will result in reduced productivity.
Thankfully, you’ll find various productivity apps and software that are useful for remote working. Project management software and remote collaboration apps, for example, are popular among organizations practicing remote working regularly.
These are tools private organizations can use when the need calls for a more adaptable working arrangement. When the Philippine government announced the need for a community quarantine due to COVID-19, several companies implemented a skeletal force or a work-from-home setup.
In times like this, productivity tools prove useful in maintaining the team’s collaboration. Workflow automation software also helps streamline business processes even with reduced human intervention.
Any form of a crisis — a health emergency, a natural disaster, a territorial conflict — can disrupt your day-to-day activities. What you can do, however, is to use your available resources wisely to help yourself and others survive.
Technology, for example, can do wonders when utilized the right way amid a crisis. The key is to identify where you need help with and determine how technology can address your challenges.
If you’re not sure how you can properly use technology, though, you can always seek expert advice. There are technology providers like 天博 that can help identify your needs and come up with solutions for your specific requirements.
Working from home due to COVID-19? Check out these seven hacks that can help you stay sane and productive while working remotely.
More and more companies are implementing a work-from-home scheme to help stop the spread of COVID-19. But while working from home offers several advantages, it comes with its own set of challenges, too.
For instance, employees need to stay productive even without their usual resources and work habits. That, and the need to fight the urge to lounge all day and binge-watch the hottest series there is.
Luckily, there are key strategies to getting the work done, and staying sane, healthy, and happy while doing so! Take a look at these useful hacks that you can try while working from home amid the coronavirus pandemic.
How to Stay Sane and Productive While Working from Home Amid COVID-19
Incorporate these helpful tricks into your daily working routine to get more things done in a day.
1. Stick to your habits.
You can skip the commute, yay! But this doesn’t mean you should laze around.
Wake up to your alarm, eat your breakfast meal, take a shower, and get properly dressed. Doing your usual weekday morning routine will help get you into work mode.
If you have a typical nine-to-six schedule, hustle within this timeframe at home. It’s easier to keep a work-life balance when you stick to your regular schedule and routine.
2. Designate a workspace.
Working efficiently at home is a lot harder than it seems, especially when home clutter and household duties get in the way. That’s why designating a workspace is vital to your success.
When choosing a workspace, consider which kind of environment allows you to focus and operate at your best. Do you need a quiet space, or you work better with a little background noise?
Then, identify what hinders you from working efficiently, so you can keep distractions at bay. Are you easily tempted by the sight of the television, or your bed never fails to lure you?
Naming the things that drive your motivation and steal your attention away is crucial for picking the right workspace. Once you’ve identified your work spot, make it pleasant and comfortable.
3. Create a to-do list.
One thing about working from home is you get to be your own manager. But without the usual activities like in-person conferences that help break up your workday, it’s easy to get distracted or feel exhausted.
Creating a to-do list won’t only help you stick to your schedule but also make you more accountable. The trick is simple: break down your tasks for the day on a list and set realistic timelines for each of them.
While online calendars help, shifting windows can cause distractions, too. A useful hack is to list down your tasks on a whiteboard or sticky pad and put it somewhere you can see easily.
If your company has a business and productivity software, leverage this technology to work efficiently. Productivity tools are useful for remote working, especially in maintaining collaboration among team members.
4. Take short breaks.
Sitting for hours on end won’t do your health any good even if you’re working at the office. Working from home tends to keep you even more immobile, especially that you have fewer reasons to leave your workspace.
To stay mobile and healthy while working from home, take regular short breaks. Get up from your chair every once in a while to stretch or move around the house.
Doing so helps regain your focus, reduce stress, and boost your productivity. If you’re commonly spending an hour or two commuting, you can use this free time to work out.
5. Communicate with your colleagues.
It’s particularly challenging to interact with colleagues during this time, and it’s causing a lot of people to feel socially inept. But thanks to technology, you can stay connected with your colleagues to see how they’re doing and give updates about your work status, too.
With online tools and platforms such as email, you can share your daily accomplishments with your supervisor. By keeping your teammates and bosses in the know, you can show them you’re on top of your responsibilities even when you’re working remotely.
Video conferencing tools are also useful for virtual meetings. Zoom, Skype, and Hangouts Meet are just some of the apps you can utilize for regular check-ins.
6. Avoid multitasking.
While it’s tempting to juggle household chores and work duties when you’re working from home, this often hurts your productivity. Try your best to stick to your work and avoid multitasking.
If you prepare your lunch ahead of time on a regular workday, observe the same routine in your new setup. This way, you can continue tackling your tasks without distractions.
Also, fight the urge to turn on the TV even if you only mean to use it for background noise. Listen to instrumental music instead and keep your workspace free of any clutter so you can concentrate better, too.
7. Have a game plan.
A work-from-home setup is especially harder for parents with young kids or toddlers. But with a proper game plan, you can survive this challenge.
The fundamental trick is to seek help when you badly need to. If you’re co-parenting, communicate your schedule with your partner and come up with an arrangement like taking turns in watching the kids.
If you have a household helper, explain your new arrangement, and work in a separate room. Try to keep your kids preoccupied with activities as well, like crafts and puzzles, so they have something to do while you’re working.
People are feeling uncertain and anxious about all that’s happening in the world today, and being quarantined can intensify these emotions. While it’s easier to panic and get consumed by all the negativity and chaos, remember that you are given a chance to do something good every day.
Try to keep an optimistic viewpoint and do your best to help your company survive these trying times. Take this challenging phase as an opportune time to learn, grow, and rise even stronger because, after all, the world will heal again.
Are you looking for a business and productivity software to help your company manage through these trying times? Visit our website to see which tech solution would be best for your business requirements.
Viewing things from a different perspective, can COVID-19 change our world for the better? Let’s discover how this crisis can shape our digital future.
The COVID-19 pandemic is crippling economies globally, and it’s causing a lot of people to feel fearful and uncertain about what lies ahead. But looking at things from a different viewpoint, can it transform the world for the better?
With a crisis as taxing as this pandemic, global leaders and entrepreneurs are pushed to devise innovative ways to survive. Not only that but also to build new norms to make us better prepared for the future.
The use of technology amid these trying times takes the spotlight, and its importance has been laid bare. Let’s take a look at how this global crisis accelerated our digital shift and its impact on the future of technology.
4 Ways COVID-19 Can Influence Our Digital Future
1. Artificial Intelligence for Strategic Decision-Making
Artificial Intelligence (AI) has a critical role to play in the war against COVID-19. Countries that invested in this technology over the past few years are now reaping their rewards.
China, France, and Luxembourg, for example, are using AI as a tool to form precise projections on the coronavirus’ spread. In Luxembourg, AI helps create an accurate picture of how COVID-19 may affect the country down the road.
As a result, the country can anticipate challenges on food supply and other logistics. Additionally, the technology assists government officials in making informed decisions on the country’s socio-economic future.
Simply put, AI can take the guessing out of the picture, allowing governments to anticipate necessities. The COVID-19 crisis also highlights the potential of AI in helping governments act accordingly to avoid a crisis or prevent it from getting worse.
2. New Technologies for Remote Working
Business continuity has been a challenge for enterprises as social distancing and community quarantine were put in force. Such measures have since accelerated the digital transformation of companies, pushing businesses to adopt remote working technologies.
As businesses shift to virtual collaborations, decision-makers are given an opportunity to consider leveraging technology to weather unexpected crises in the future. For people working internationally, this can mean reduced costs as well.
Virtual meetings made possible by video conferencing tools, for example, allow businesses to save costs from regular flights. In a nutshell, unprecedented events like the COVID-19 pandemic can lead enterprises to welcome remote working technologies to maintain collaboration and business continuity.
3. Online Media for Fighting Misinformation
Social media companies also play a significant role amid the COVID-19 pandemic. They help tackle misinformation surrounding the outbreak that often stirs public fear and panic.
Google, Facebook, and Twitter, for instance, direct users to reliable sources when they search about the coronavirus outbreak. Twitter, more specifically, boosted its machine learning algorithms to combat false and potentially dangerous information.
Facebook, meantime, uses algorithms that not only fight misinformation but illegal practices as well. For example, it utilizes algorithms that combat sensationalist claims by people selling homeopathic remedies that are said to cure or prevent the disease.
These challenging times call for vigilance and discretion. And social media can shed light on which information we should digest, not just today but in the future as well.
4. Innovation for Combating Crisis
The COVID-19 crisis also pushed governments to partner with tech experts in developing innovative solutions that the public can use. The Korean government, for example, launched an app called ‘Corona 100m.’
The app alerts its users if they come within 100 meters of an area visited by a person who tested positive for COVID-19. Developers have seen a spike in app downloads amid the ongoing pandemic.
Innovation brings a glimmer of hope in dire times like this as technology helps businesses and communities stay afloat. For this reason, it makes perfect sense that organizations consider partnering with companies offering technology solutions that can help them combat similar situations.
When faced with a challenge, people grasp at any hint of light, any bit of chance to survive. As the world tackles the COVID-19 pandemic, we are all given an opportunity to prepare for what’s coming next.
If we’re going to view things from a different perspective, the coronavirus disease may well be changing our world for the better.
First, it makes us appreciate the little miracles of each day. Second, it makes us think about how we can prepare for what lies ahead — to minimize damages and lives lost to crises.
Are you having a difficult time keeping up with your business’ demands due to the COVID-19 crisis? View our list of technology solutions and let us know how our team can help keep your engines running.
Businesses across all industries were forced to either limit operations or close temporarily due to COVID-19. Here’s how your food business can survive.
As the coronavirus pandemic continues to affect nations worldwide, businesses across industries are forced to either close temporarily or limit operations. With strict social distancing and quarantine measures in place, food industry sales suffer a significant slump at around 80%.
While some restaurants get through by offering delivery and takeout options, many food businesses are still clueless about their future. So, how can food businesses and restaurants survive the COVID-19 crisis?
If you are a food business owner or a restaurant manager, this article is for you. Find out how you can navigate through this situation and keep your business afloat during and even after the crisis.
How Your Food Business Can Survive the COVID-19 Crisis
1. Prioritize the safety and wellness of your staff.
Keep in mind that your staff is the backbone of your business. In the middle of a health crisis, keeping them safe and able-bodied should be your top priority.
If you are still operating under limited capacity, boost your store’s sanitation measures to ensure not just the safety of your customers but your staff as well. You can do this by having adequate sanitation stations in your store and heightened sanitation measures.
While most businesses are compelled to stop operations temporarily, you should also try to find ways to help them sustain their families. Giving your employees a special assistance package or paid sick leaves can help them and their families survive these trying times.
2. Leverage technology.
Having a reliable platform that will allow you to communicate with your valued customers is pivotal for your business’ survival. You need to effectively communicate the changes you’ll be making and other essential updates regarding your operations.
For example, you can constantly update and engage with your customers and continue to do business through a website. Third-party service providers like 天博 can help you set up a custom website to ensure business continuity.
Also, consider what your customer base is looking for and find ways to cater to them. Nowadays, people are seeking budget-friendly meals and delivery options, as most are working from home.
3. Use your resources wisely.
Just about everyone in the food sector is affected by the on-going coronavirus crisis — farmers, suppliers, operators, owners, and staff. So, it’s essential to manage your resources to avoid wasting more.
As businesses are compelled to close temporarily, you need to think of ways to utilize your resources wisely. The trick is to make the most of your inventory and lessen the wastage of ingredients.
Some businesses are selling their inventory to continue earning despite their stores’ temporary closure. You can do this, too, and optimize your processes for the monitoring and of your inventory and the efficient delivery of your products.
4. Consider premium deliveries.
Since the outbreak began, many businesses were put at a standstill for weeks. Some food businesses, however, still manage to thrive by providing home delivery services.
People’s preference for budget-friendly products and delivered goods increased as stringent quarantine measures were put in place. And this trend is expected to rise in the coming weeks.
For this reason, it’s wise to consider offering premium delivery services to your customers. This is one of the best ways to stay in business while people are observing self-isolation.
5. Maximize available assistance.
Apart from the labor shortage, food businesses are also faced with financial challenges during this critical period. In the Philippines, President Rodrigo Duterte assured that micro, small, and medium enterprises (MSMEs) would receive aid amid the COVID-19 crisis.
Grace periods are also enforced for rent and other utilities. You can maximize these kinds of support while finding ways to earn amid the “new normal.”
Both public and private institutions are implementing strict quarantine procedures and social distancing measures to achieve the same goal: flatten the curve. While the war against COVID-19 is not yet over, all affected sectors, including the foodservice industry, are encouraged to take part.
For restaurants and other food businesses, this means following government policies and devising innovative solutions to survive the crisis. By adopting these tips, your business may get through this tough time.
Are you looking for innovative solutions to keep your business afloat during this pandemic and help it survive in case a similar crisis strikes? Talk to our team today to know which technology solution is best for your business.
The COVID-19 crisis accelerated the transformation of businesses. Discover how your retail business can be better prepared for the future.
Enterprises across all industries are scrambling to keep up with the sea of changes in business operations amid the COVID-19 pandemic. Owners, corporate leaders, and decision-makers are coming to grips with challenges of a labor shortage and stores’ temporary closure.
On top of that, there are tons of changes in customer behavior and expectations, pushing enterprises to devise creative solutions to keep afloat. Let’s take a look at how the COVID-19 changed the way companies and enterprises do business.
How the COVID-19 Crisis Changed the Business Landscape
Movements have changed. Before the global health crisis emerged, customers visited stores. Today, customers are quarantined at home, and businesses need to create ways to reach them.
Businesses shifted to virtual collaboration. Since social distancing measures were enforced, people turned to virtual meetings. Video conferencing has become a crucial part of the “new normal.”
Product safety is non-negotiable. People have grown more conscious of the items they receive from delivery. Businesses need to ensure that sanitation and safety standards are met every time.
Enterprises must weather vulnerabilities. Businesses must identify their next steps for survival. Some consumers may have lost their jobs, which may affect their spending capacity.
Considering these changes and challenges, entrepreneurs must set their eyes on transitioning to the new normal. If you have a retail business, here are some of the things that you can do to come out stronger from this crisis.
6 Ways Your Retail Business Can Survive the COVID-19 Crisis
1. Prioritize the health and well-being of your staff
Your staff’s health, safety, and well-being play a crucial role in the continuity of your business. As you adapt to new working conditions, it’s essential to ensure that they are not just physically well but mentally and emotionally healthy, too.
Amid the COVID-19 crisis, people have grown weary about their health, families, and future. Many are struggling to cope with the changes in their workplaces, communities, and homes.
As an employer, you must acknowledge the difficulties your staff may be enduring and show genuine support. Listen to them, share your thoughts, and encourage them to continue engaging with their colleagues virtually.
2. Strengthen your value proposition.
The secret to making your business survive is crafting an effective value proposition. What problems are you trying to solve? What are the benefits of your products?
Consider your consumers’ evolving needs and how your offerings can bring value to them amid the pandemic. Reducing risk and anxiety is just one of the value elements that has become vital now more than ever.
3. Evaluate your existing offerings
Now that business operations aren’t as hectic, you have time to assess your existing offerings. What products are performing? What keeps your competitor thriving despite the situation?
Analyze the factors that contribute to your success and your rooms for improvement. Then, work on a plan guided by the results of your evaluation.
4. Go digital and optimize your online platforms
Since most of your consumers are likely quarantined at home, it’s essential to be present where they are — mobile. If your customers can’t purchase an item with their smartphone, chances are you’ll lose them.
This is why it’s crucial to build or improve your website and mobile app, as well as to optimize them. Use this time to enhance your site speed, SEO, and UI/UX to boost your conversion rates.
5. Manage your business costs
Break down unnecessary expenses and get rid of them. Manage your business from home to save money on utilities and other real estate costs.
Also, maximize cloud services for your business computing needs. With cloud computing, you can reduce costs on software upgrades and onsite server maintenance.
Third-party providers like 天博 help retail enterprises make the most of cloud solutions. Consider partnering with companies specializing in cloud services to get more bang for your buck.
6. Explore new opportunities
The COVID-19 crisis changed customer behaviors and expectations. It’s crucial to cater to the evolving needs of your consumers and contribute to a safer society.
Consider what will be beneficial not just today but in the future as well, and re-assess your retail business models. Re-imagine tomorrow and continue to innovate so that you can stay ahead.
Given the many changes brought by the COVID-19 pandemic, retail businesses that accelerate their digital shift and make their processes simpler can emerge stronger. Keep these insights in mind when planning your next steps to weather such crises and be better equipped for the future.
Do you want to reduce costs while delivering optimum service to your consumers? Talk to our team today to know how our cloud services can help your bottom line.
Financial institutions, including banks, have to transition to the “new normal.” Here’s how you can prepare for post-pandemic banking.
As the COVID-19 crisis turns the world on its head, businesses are now taking crucial steps to shape their future. Consumer and small-business banks, for instance, are strategizing ways to cope with the so-called “new normal.”
If you haven’t developed a post-pandemic banking strategy yet, here are some ideas for you. Read on and discover how you can serve your customers in a post-COVID-19 world.
7 Ways to Serve Your Customers in a Post-COVID-19 World
1. Offer grace periods or payment holidays
Retrenchment and lay-offs have become inevitable as businesses struggle to make a profit. Bank customers, as a result, tackle financial stress.
Banks can extend a helping hand to their customers by waiving interest charges and suspending fees for late payments. Some Philippine banks halted costs for online money transfers temporarily in response to the outbreak.
Others, meantime, offered grace periods and extensions for credit card and loan payments. Such measures will be valuable for your customers, especially now that many people are struggling to make ends meet.
2. Set up helplines and financial tools
People often seek answers and reassurance amid uncertainties. As situations continue to evolve, you should keep your lines open and financial fitness tools handy.
Make these tools available on your website and boost your customer engagement with the help of chatbots. Start reaching out to your clients and discuss how they can utilize your financial fitness tools.
Ask how else you can assist them and let them share their thoughts about post-pandemic banking. Start with your most vulnerable clients and set helplines for digital transactions.
3. Encourage digital migration
As the pandemic limited face-to-face interactions, fintech in banking became even more crucial. Customers must be aware of your existing remote channels and you should encourage them to use such.
Let your customers know what kind of services they can access on your digital platforms. Offer to walk them through if they’re having difficulties, and boost your remote support.
Also, consider how you can enhance your existing digital platforms by identifying crucial functionalities. For example, you can improve your channel to allow increased transaction limits or simplify password updates.
4. Ensure seamless digital customer experience
More and more people are expected to use remote channels in post-pandemic banking. So, it’s essential to ensure a seamless digital experience for your customers.
Leveraging cloud business solutions will let you savor just this. Cloud-based backup, recovery, and security solutions can give you greater flexibility and peace of mind.
A reliable cloud service provider like 天博 can help you secure and scale your business assets in a cloud environment. As a result, your end-users can savor an enhanced digital experience.
Companies lacking the skills and budget will also find Managed IT Services useful. If you believe your team cannot support critical cases or handle massive volumes of technical concerns, this service is right for you.
Apart from cloud computing services, 天博 also offers Managed Services to help organizations like yours maintain systems, servers, and networks. IT experts are deployed to provide support or perform crucial tasks your internal staff cannot handle.
5. Provide solutions for vulnerable groups
While banks are encouraged to accelerate their digital shift, certain groups may not be active online. Take, for example, the elderly.
With a little creativity, though, you can come up with short-term solutions to address special needs. Paper communications and remote access, for instance, make practical options.
In other countries, some banks advanced the payment of pensions, which helped reduce branch and ATM withdrawals. Other banks set up a dedicated phone line, provided free tablets, and conducted digital skills training for older people.
6. Keep clients engaged
Even when the crisis is over, it will take time before people get well-adjusted to the new normal. Proactive communication helps to keep customers abreast of your operations, preventing unpleasant surprises.
Text messaging proves to be an effective way to communicate with customers as messages can be delivered in real-time. You can update your customers about your available digital solutions, and provide tips for fraud prevention.
Third-party SMS service providers like Mobile360 help businesses engage with their audience effectively through a wide array of SMS solutions. Such efforts promote enhanced customer engagement and experience.
7. Go the extra mile
Regardless of industry, companies that go above and beyond establish a competitive advantage. At a time when customers are uncertain about the future, companies that exceed expectations will help allay fears.
Think of how you can cater to your customers’ needs during the pandemic. Offer solutions that make processes more convenient for them, and engage with them proactively.
As enterprises adopt new ways and technologies to adjust to the new normal, banks are encouraged to do the same. You need to serve your customers with their best interests in mind and leverage financial technology to power through post-pandemic banking.
Do you want to go above and beyond for your customers? Talk to our team today to know how our technology solutions can help you serve your customers better.
Mobile apps have several benefits for the banking industry. Read on to find out what they are.
As the COVID-19 crisis brings an uncertain future, businesses across all sectors need to develop solutions that will help equip them for unforeseen events. Today, technology plays a pivotal role in businesses as companies shift to remote working and online transactions.
For the banking industry, this means leveraging technology solutions like mobile apps. Read on and discover how you can benefit from mobile apps if you are in the banking industry.
7 Reasons Why Your Bank Needs a Mobile App
1. Enhanced customer experience
If you want to enhance your customers’ banking experience, mobile apps make a practical solution. With mobile banking, your customers can access their accounts 24/7.
As a result, you can instantly fulfill their needs. Clients appreciate this instant satisfaction at their fingertips, especially in today’s often busy world.
Additionally, mobile banking allows you to personalize the customer experience, establishing trust and confidence in your institution. By analyzing available data on your customers’ preferences and behavior, you can provide a unique experience for each user.
This unique experience allows your customers to fully control and maximize your services. From monitoring their accounts to transferring money, mobile banking can give your customers the ultimate convenience they’re looking for.
2. Improved security
If you are managing a bank, you know very well that security is a primary concern for customers. As you deal with their finances, you must keep your customers’ information safe and secure.
While online and mobile banking both come with their own risks, mobile banking makes a more secure option than its online counterpart. This is primarily due to additional security from an extra hardware.
Retina scans, fingerprints, and gesture patterns are security solutions you can use for mobile banking on top of two-factor authentication and traditional passwords. Also, most financial institutions utilize encryption for privacy and information protection, paving the way for worry-free mobile banking.
3. User analytics
Analytics play a crucial part in enhancing your services for your customers, and mobile banking also helps with this. Metrics allow you to understand how your customers use their mobile app and for which purposes.
For instance, the number of active users, retention rate, and session intervals can help you determine user engagement. Meantime, the volume of downloads and their respective channels help you identify which of your marketing campaigns are working.
You can also measure your app performance, especially its loading times and crashes. By analyzing these metrics, you can easily see where you’re good at and which areas you need to improve.
4. User retention
In-app and push notifications allow you to inform your customers about their increased credit limits and other relevant offers you might have. Banks that offer this option establish a competitive advantage.
Targeted notifications also help enrich the customer experience, improving client retention. As a result, you may see improvement in your mobile app ratings.
5. Productivity and efficiency
Artificial intelligence, otherwise known as machine intelligence, refers to actions done by devices without human intervention. Chatbots, machine analytics, algorithms, and natural language processing are examples of AI.
With the help of AI for mobile banking, you can send personalized notifications to your customers based on their preferences, location, and purchase history. Moreover, chatbots can send customized recommendations and offers, allowing you to save on costs.
Since technology can already do all these things, your staff can focus more on their key functionalities. As a result, your workforce can boost their productivity and efficiency rates.
6. Cost savings
Mobile banking can also help you enjoy cost savings. Since it allows you to go paperless, you save money on printing and delivery.
Plus, you no longer need to hire additional employees to perform tasks your mobile app can do. You can also save on operational costs from maintaining branches.
Third-party service providers like 天博 can help you launch a mobile app for your financial institution. An expert in the field of custom development and IT, 天博 can let help you reap results from your mobile app investment.
7. Significant ROI
Improved customer engagement through mobile banking also significantly affects your return of investment (ROI). Engaged mobile app users hold more financial products.
Since services are available 24/7 on mobile banking, customers also transact more frequently. This results in more revenue than branch-only transactions.
As the pandemic result in store closures and high unemployment rates, it opens the eyes of decision-makers to the fact that nothing is guaranteed. To survive unforeseen events like the COVID-19 pandemic, you need to consider integrating technology into your business.
Mobile apps, for instance, allow business continuity, resulting in more engaged customers and even reduced costs. By leveraging mobile banking, you can take advantage of these benefits and more.
Are you looking for a mobile application development company? Get in touch with our team today to know how we can help you develop a mobile banking app.