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How COVID-19 Accelerated Online Payments Globally

The COVID-19 pandemic has single-handedly affected the lives of every individual directly. Therefore, social distancing has become the new normal so that people's lives can continue. Although every industry and market is directly affected by the ongoing pandemic, work cannot stop. This is because the extreme can cause companies and economies to collapse. To solve the uncertain harmful situations, some detours can sort your business problems comprehensively. For any business, cash flow is the king in a business and cannot be avoided at any cost. It is the heart and soul of an organization to run. Online payments will now help businesses to resume their activities with physical distancing and after social distancing as a basic norm in COVID-19. The steep rise in smartphone usage has also led to an increase in downloads and the use of digital payment options. A recent report published by Statista has predicted that the total transactions across the digital medium will reach USD 4,769,370 million by the end of 2020, and an annual increase of over 15% is expected thereafter. The new type of coronavirus will be instrumental in increasing the usage percentage many times over. Let's now understand how COVID-19 will actually drive brands to adopt digital/online payments around the world. The Impact of the Coronavirus outbreak on the industry and the marketplace The sudden outbreak of the coronavirus pandemic has brought the entire world to a shocking, uncertain standstill. The completely disrupted demand and sudden standstill have brought a significant impact on the manufacturing sector due to consumer behavior. With nearly a third of the world's population locked up at home right now, their behavior has changed.

Top 7 Advantages of Accepting Payments Online in Businesses

Businesses, regardless of the industry or size of the company, tend to accept payments online. Thanks to the immediate, but also long-term overall benefits. In addition, the acceptance of online payments has increased greatly since the use of smartphones has increased. Statista, in one of its reports, predicted that online transactions will reach $4,769,370 million by the end of 2020. And after that, it is expected to increase by 15% year-on-year. As businesses become more borderless and aim to capture global markets, it's important to keep up with consumer behavior. As borders change, so does buy behavior. But a company must be able to withstand any situation. For a company, maintaining a high cash flow is the top priority. For this reason, most businesses are opening their doors to accept payments online. Paying bills online helps businesses save time, be faster, and save customers’ maximum hassle. It also helps in reducing excessive costs incurred in physical transactions. With an online bill payment, businesses can allow their customers to pay from a variety of online payment gateways around the world and make billing a hassle-free process. It also helps in reducing the significant amount of paper invoices that are printed and used for sending bills. It also eliminates the hassle of waiting for a check, depositing it, and then waiting for the money to clear. Collecting funds through online bill pay is not as difficult as you may think. Here are 7 business benefits you can get after implementing online bill payment for your business: 1) Instant payment:

Employee Management- How AI Can Make it Easy?

In an organization like yours that works with the internet day in and day out, there should be nothing pulling you back to go one step further and using technology provided to have optimum utilization of resources. Management of employees is one of the major responsibilities when it comes to delivering results for the set goals. It is the efficiency of the work that makes all the difference. Under piles of workloads, meetings and appointments, it often becomes reasonably difficult for a manager to keep a track of all the employee activity and hours. And, to provide feedback and encouragement for further growth. For any organization it’s human resources are its biggest assets and using their potential to fullest holds utmost importance. Adopting latest staff management software that handle the management of challenges, employee dissatisfaction and tackles time constraints then takes a major role. Was the idea ever successful? Yes! As once said by the Jelly Belly Candy Company of California, their secret behind making the best candies is their satisfied workers. The organization takes high interest in maintaining their employee satisfaction rate and then the performance. The idea here is simple, keeping transparency in system reduces chances of any kind of conflict. An automated online staff management and custom invoice software helps you to easily evaluate performances and then decide for accurate performance appraisals.