Going Digital with Your Business

There are many reasons your business may need to go digital. Digital commerce technologies can make it possible to work from anywhere. They expand the potential customer base for your business, help you manage your business more effectively, make your customer interactions more meaningful and convenient, and make work more pleasant for your employees. Generally speaking, digital commerce tools include new technologies which are made possible by the Internet, mobile networks, and digitally enabled devices. This includes e-commerce, which is defined as the commercial transactions which occur via the Internet.

Selling online
If you’re interested in going digital with your business, then a good first step can be to sell your products or services online. You can sell through your own website, a marketplace platform, or both. Learn more about selling online.

Digital payments
Of course, if you’re going to sell online, then you'll also need the ability to receive payments digitally. There are many types of digital payment technologies -- including credit, debit, and prepaid cards, mobile wallets, QR codes, and contactless payments. These technologies work through near-field communication, SSL certificates, and other means. Explore other types of digital payments.

Managing your business digitally
You may wish to explore some digital tools to help manage your supply chain and inventory. A digitally managed supply chain can help you predict where issues might arise, and predictive tools can estimate how many units of a product you might sell. Digital accounting tools can also help you balance the books and stick to a budget.

Security and fraud
There are some additional things to consider when going digital. For instance, you'll want to implement security and fraud prevention measures. In addition, you'll have to allocate time to the task of making sure your digital properties (like your website, social-media channels, and accounts on marketplace or review sites) are up to date and functioning properly.