Internet has created a new economy, which has, by its explosive growth and sheer size, already changed our perception of traditional way of doing business. E-Commerce in general has been steadily and explosively growing since 2004 and shows no sign of waning in the future. Companies like Amazon and Flipkart have successfully created ascendancy in areas where just few years ago traditional companies were kings, hence proving that the era of Internet domination is upon us.
It is
foreseeable that this dominance shall not stay confined merely to trading of
tangible goods, but shall also have services, including those rendered by
professionals like Chartered Accountants, within its spectrum. But why is this
shift happening, and more importantly, why should
you choose to go digital?
Well, there are 9 good reasons for that.
1. Convenience
When information
and services are provided online, you are not required to especially make time
to travel all the way to visit the service provider and wait till someone shows
up to attend you. Apart from saving time and avoiding crowds, you are also no
longer restricted by the traditional 9-6 business hours and week days/ non-holidays.
Due to online modes, we now have the opportunity to communicate with service
providers, seek and provide information and take services 24x7.
2. Time Saving
Obtaining
inputs (data and information required for commencement and completion of work)
and delivering output documents physically can make the process time consuming.
Where all dealings are effected online, the time involved in completion of
process shall be reduced to minimum, therefore giving you quicker results. Moreover,
using web-based form technology to collect and exchange information not only
speeds up the process, but improves data quality.
3. Physical location becomes irrelevant
You could
be in any part of the world and the World Wide Web shall allow us to serve you
irrespective of your physical location.
4. Better Customer Support
We all believe
that customer satisfaction and retention is one of the key factors of business
value chain. Thanks to Internet technology, online service providers deliver customer
support more effectively, as their customer support as well as grievance
resolution mechanism is entirely based online.
5. Easy and Quick Exchange of Information/ Documents
5. Easy and Quick Exchange of Information/ Documents
Since their
information databases are maintained digitally, Online support companies need
not unnecessarily spend time looking for paper documents. Electronic documents
are easier to file and find because they can be indexed using keys like date,
document type or other user-defines criteria and also allows us to use features
like full-text searching. Therefore, they can readily make information and
documents available to you.
6. Better Pricing
6. Better Pricing
Online
provision of services not only cuts costs for clients by eradicating the
requirements of physical meetings, but also enables us to render services at
lower costs than our contemporaries who are yet to adapt to the digital
practices, as streamlining business processes through online systems allows entities
to cut costs significantly in many spheres of business. Therefore, lower
overheads enable us to provide services at competitive prices.
7. Security
While some may hold it against online business processes, there have been numerous technological advancements in this regard. Various methods of data protection and encryption have now made it possible to exchange information in a manner that is far more secure than exchange of physical documents (which is prone to all types of security breaches itself). The level of security can be decided on the basis of degree of sensitivity of information. Online processes also have far more transparency and can let us identify deviations quickly.
8. Environmental Reasons
Environmentalists
have been encouraging us to ‘go paperless’ for a while, and online business
processes can help us make it a reality. With global warming and excessive CO2
polluting the environment, the world has begun to see the value in going
“green” and reducing our carbon footprint. Going paperless by utilizing
electronic document management systems and related technology helps cut down on
deforestation and pollution, leaving more trees to do the dirty work of
absorbing carbon dioxide, and slowing down global climate change.
9. Expert Opinion
Since Online services process voluminous assignments hence they become able to serve businesses from almost all streams & domains of consulting and have a support of sizable consultant panel from each domain.
Since Online services process voluminous assignments hence they become able to serve businesses from almost all streams & domains of consulting and have a support of sizable consultant panel from each domain.
CA Hemant Gupta
hemant@neusourceindia.com
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