The pace of technology and updating it has become a more crucial factor of life than would have even been predicted throughout this year. Investment is also key in making a difference in this changing world, and within that focus of IT and business, innovators are keen to address new opportunities as they present themselves. Most of those models will increase the use of digital technologies in some way.
In this current time, the bigger companies and corporations are also the most willing to take risks and also most likely to benefit. Some would say companies such as Amazon, Apple and Google have got to a size where they have protection from any economic uncertainty, while also moving forward in their latest ventures.
While getting capital for start-ups and new business ventures is not always easy, on the other hand there are rapid changes occurring which means alternative ways are possible, too. That is why so many take the experimental approach and try to see if another form can be managed, or use a method which serves for an alternative solution to an existing choice.
One such example here would be in the book selling industry, where bookshop.org and the book depository have served as alternative ventures to try and rival the might of Amazon. These examples lead to more of a focus on individual approach, with a more direct link to the writer in terms of how the books are sold. In music, the same is true when comparing Bandcamp (which sells artists’ material directly through their pages) with a more commercial enterprise such as Spotify.
Working from home and advantages
As businesses change dramatically, the changes have been monitored and commented upon by various studies. One such study, a paper by the OECD, even talked about the adjustments that had been necessary in coming to terms
Adjustments that have been necessary to make come to terms with the pandemic saw a massive, and sudden, shift to work from home,
It has completely changed the mindset in terms of how countries approached this recommendation, and even by April an estimated 40% of workers in the EU region were doing this full time. One specific case study saw Italy’s numbers jump from 500,000 to 8 million, according to Eurofound.
This in itself has been mostly positive for businesses, as employers ultimately save money in the process, though interestingly enough those studies have shown that workers save too in the process.
Reasons for this include
- Less commuting
- Reduction in absenteeism
- More focus on the work itself
The agenda was pushed forward here and ultimately proved that it could be done, with many of the businesses surveyed citing that many of those changes would be made permanently, even after the pandemic. Other aspects that are worth noting here rely on strong connections and WIFI signals, and of course helping to reduce carbon emissions. That refers back to the reduction in commuting, which could in turn aid forms of rural development down the line.
Moving schedules to a faster process
Tech BBQ is a Danish company that aims to be one of the leading platforms for start-up companies in the Scandinavian region, which was originally set up in 2013. Hong Nhi Nguyen is the head of programmes with the organisation, and their output is in researching and providing a potential ‘meet-up’ between start-ups and incubators, trying to get interest from investors when this is met. In previous times, Tech BBQ was obviously holding large scale live functions and attracting a good number of attendees from a range of countries such as Sweden, Finland, Norway, and sometimes beyond that side of Scandinavia too.
Which meant that there was the possibility of major interference to the organisation with the pandemic. However, Hong mentions that the company expanded their efforts to organise for online possibilities and potential, to compensate where there once had been over 8000 people present for the physical conferences.
‘Future events are now being explored around the virtual boom, and while this is a new trajectory, there is a hope that the region can be a new type of Silicon Valley. This will help by focusing on the right framework and conditions in creating innovation hubs.’
Adapting suddenly in this timeframe made life much easier, as the platform adjusted for new prospective interests. Hong admits it was challenging at first, but over the months the positive aspects of the digital switch made business continue to flow. ‘Now that we’re focused on this new digital conferencing, a lot of the meet-ups tend to run smoother and the future may see these mixed in with physical events permanently.’
So even as things change, it’s good to see that ideas develop with the uncertain events around them.
Submit: working with innovators
At Submit we like to take an approach that mirrors organizations or individuals looking to innovate and attempt something new. That is the case as much for entrepreneurs starting out, as seen with the IGNITE program, (more can be read about that here) as it is for the more established businesses.
In all cases, forms, applications, work documents are a necessity to proceed with in various stages of work, and something where innovation boosts the way of dealing with all this.
Such a boost would be seen in helping an organisation’s clients become more efficient in time and planning, with better use of management and in the new opportunities that this would provide.
A faster pace of work would also mean more opportunity for start-ups and other potential partnerships to flourish.
Digitising will help keep everything on track in terms of focusing on new and existing projects, keeping all the necessary information on hand and preparing for any changes along the way.
For more advice and information on anything in regards to this, our team at Submit are waiting for you to get in contact and start you off with a free demo. The digital age has a lot of opportunities that you can take advantage of from now!