The World of Business is Changing
Depending on which side of the digital world you belong you tend to see things differently. If you are like me and grew up in the 20th Century, we marvel at the speed of change towards mobile technology, such as mobile phones and tablets. Those who grew up in the 21st Century take mobile technology for granted, you are mobile natives. Either way, the world has gone mobile. It is the new normal to see persons walking and seemingly talking to themselves, while they carry on a conversation with someone far removed from their location, or gazing into a small hand held device lost to the world around them.
And this has had a profound impact on the way in which business is conducted. Research has shown that over 60% of persons work from outside the office part of the time. They access information on their devices or communicate with customers and suppliers remotely. This transformation is termed the digitization of business. The impact of this has been so profound that the S&P 500 top corporations average age is projected to be only 12 years by 2020, due mainly to the disruptions from new start ups embracing this digitization of business.
The logical conclusion of this is that as a business owner or employee if you are not part of this digitization of business you are highly probably on the way out. And this business digitization is conducted on the Internet and referred to as the cloud. Simply put, “cloud computing is the delivery of computing services—servers, storage, databases, networking, software, analytics and more—over the Internet (“the cloud”). Companies offering these computing services are called cloud providers and typically charge for cloud computing services based on usage, similar to how you are billed for water or electricity at home”.
‘The Cloud’ can be referred to as a digital platform that is located much like radio waves for 20th Century Natives. Information is stored and can be retrieved from the cloud. It provides certain benefits such as 1) It is secure – it is not destroyed when your physical device is destroyed and can be retrieved from a new device. 2) You can store information on the cloud 3) The cloud makes new technology available at a lower start up cost 4) The cloud can be accessed from anywhere the Internet is available from multiple stand alone devices. 5) It allows for quick continuity in case of a disaster at your business premises 6) It is secure from theft by complex passwords.
Benefits of the Cloud
The benefits of cloud technology for your business can be tremendous. It can save you considerable time both in start up and access. You can start to digitize your business in a much quicker time and so allow smaller businesses to scale up to large business in a fraction of the time. You can also access and update information where ever you are on which ever device you have with you immediately, without waiting until you get back to the office.
It allows scaling up in computing technology at a fraction of the price it would have cost businesses just a few years ago. Again allowing smaller companies to scale up at a lower cost.
Cloud technology providers can use economies of scale to build in advanced security and so provide their customers with the confidence that their information is secure and retrievable.
Probably most impactful of all, cloud technology promises greater business performance due to 1) Ease of information access and updating 2) Better analysis of data and information using low cost cloud analytic tools 3) Lower head count and the associated costs 4) Staff networking through information sharing and pooling of ideas 5) Leveraging information from one part of the business to be used in another part of the business 6) As explained earlier lower cost and shorter time frames of business.
I hope I have sufficiently convinced you of the need to digitize your Real Estate business to the cloud. In my next article I will offer some pathways to moving at least part of your business to the cloud and so reap the benefits.