How-To Prepare for the New Normal (Top Considerations)

“The Only Constant is Change”

As we settle into our new normal, only a few months after COVID-19 has disrupted our daily lives, we are experiencing a new way to do business and navigate the changes ahead.  The digital transformation is coming to the fore front faster than ever.  While there is no way to predict the future, we do know how we have been responding to market trends at the moment. Businesses must take a data-driven approach to understand how to move forward.

Top Trends That Are Here to Stay

This list is brought to you by SMB Group and a study: Connecting the Dots Between Business and Technology

1) Work From Home

It’s time to get used to the acronym: WFH (Work From Home).  The trend was rising prior to COVID-19, as WFH jobs increased by over 44% the past five years.  Companies have been giving employees the option work remotely on a regular basis in order to attract talent. With the stay-at-home guidelines, more employees were forced to work from home and studies show that it could be a permanent shift.

2) “Virtual-Everything”

The virtual trend goes well beyond internal employee collaboration.  Events are being transformed from live in-person to online meetings, classes, networking events and webinars.  Of course we could host all of these things online before, but now they are considered mainstream. Look for a hybrid mix of both in-person and virtual for awhile to come.  Virtual Events Hosted by Plumb

3) Touch-Free Transactions & Online Sales

The dramatic drop in traditional in-store and office operations have forced businesses to ramp up their online presence. According to the study, about one-third of all small and medium businesses are saying these initiatives are paying off. Retailers are implementing more ‘touchless’ in-store processing and payment technology.

4) The Cloud Shines Brighter

With the variety of online collaborative solutions available (Zoom, Asana, Microsoft Teams, Slack), it enables workers to be remote and maintain their productivity. There are other cloud-based business applications that have demonstrated their worth during this challenging time.  The cloud and software-as-a-service has become a more acceptable and preferred method to deploy in almost all areas of business.

5) Outsourcing Can Fill in the Gaps

At TAG, we are an outsourced accounting firm and also provide cloud-based accounting solutions. We understand the power of outsourcing in order to be more efficient with your time, save money and have experts in their field (accounting, IT, marketing, etc.).  For example, do you have a CFO on staff who is also handling lower level transaction work that should be handled by someone else? Think about the gaps in your office and how outsourcing can fill them. Read: The Covid Crisis: Why Outsourcing your Accounting Can Help Your Business 

About Plumb:

Our team of expert accountants work remotely to support your business needs. From full-charge bookkeeping services to providing monthly financial reports, we offer part-time accounting help and work on a fixed-fee budget.

For pricing and more in-depth information, contact us.

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