November 24, 2015 | Sharon Cheong
It is often heard that new companies are being shut in The Philippines; however, the news is not so bad, as thousands of small businesses start every year in the country and a good percentage of them have learned what it takes to survive the rigors of the current business ecosystem. The use of technology to maximize the productivity of the business creates the platform for realizing true commercial success. With the right technology in place, companies can rest assured that they have the tools to meet the challenges of the today's business scenario.
Why it will be easy for businesses in The Philippines to exploit the technology boom to the best of their advantage?
The Philippines have some of the highest levels of online brand engagement, internet penetration and social media usage. These trends intersect several different income levels and make The Philippines a promising market for any kind of business. Another important advantage is the large English-speaking population of The Philippines. Along with Tagalog, the country is well versed in speaking English, which is also one of the national languages of the nation. English proficiency of the people makes it easier for them to communicate with the international business community and eliminates the language barrier that most of the countries of the world face.
Why technological support is crucial for a business to thrive in The Philippines?
Implementation of technology improves the ability of a business to communicate with its customers. In the busy work environment of today, it is necessary for employees to interact with customers quickly and clearly. While websites serve as a medium of communication and solve most of the queries of the customers, implementation of technology in logistics allows a business to target a larger geographic region. Better communication creates a stronger public image.
Technological support allows a company to understand their cash flow needs and preserve valuable resources such as time and physical space. Inventory technologies allow the businesses to determine the costs of holding a product. With the technology in place, managers can save time and money by making meetings via the Internet rather than in physical offices.
Better corporate culture and class relations
The technology creates a dynamic team within a company because employees present in different locations have better interactions. If plant operators can interact with the transportation coordinator placed at another location, tensions and distrust are less likely to emerge. Factions and social tensions caused due to lack of communication could turn into a nightmare for a company.
Most modern day companies are subject to security threats. Technology can be used to protect the financial data, strategic decisions and other confidential information that can give a competitive advantage to a rival company. With password-protected systems, your business can avoid the threat of your future projects being copied by competitors.
Pursue new business opportunities
A company that has the technological ability to pursue new opportunities will be ahead of the competition. For a company to survive comfortably, it is important to seize new opportunities. The internet allows a company to explore the markets of the world without bearing the cost of a business travel or risk of creating a setup abroad.
Although the tech ecosystem in The Philippines is at its boom, the enterprises are sometimes unwilling to spend money on technology due to low seed funding, unfriendly trade regulations and other challenges of the economy. However, those that gather the courage to go ahead with technology implementation in their business reap huge benefits and realize the full potential of their business.
Offering you with best locations to run your business from, the team at Servcorp is committed to provide your business the technological support it needs. As a virtual office provider in The Philippines, our business objective revolves around one simple principle- reducing your operational expenses and sharing your overheads. Let us help you find the best office solution for you. Give us a call at +63 2 368 5700.