Sri Lanka is leading in vaccination against the global pandemic but health authorities have warned citizens to be extra cautious about the Delta variant which has been detected from several Districts. Against such backdrop, organizations are compelled to explore creative ways to ensure continuity of business. Many have turned to digitalization as the ultimate savior in this regard.
How can digitalization help?
In Sri Lanka as well as globally, working from home/virtual office is seen as being the future of work; it is believed the digitalization which was accelerated by the pandemic will however become the ‘normal’ or default even once the pandemic is fully mitigated. As such, embracing technology by investing in the right technology & tools can give organizations an edge over their competitors who still operate in the conventional fashion. One area that can be conveniently fully digitalized is employee and supplier payment automation and expense management within organizations. This sort of streamlining can serve to simplify processes while also guaranteeing transparency and preventing financial misappropriation & fraud.
DigiEx: The future of payment proceesing?
While there are many products geared towards process automation, DigiEx happens to be a homegrown platform ranking high in terms of customer satisfaction. It is an easily navigable service which can be downloaded free from Google Play or App Store; DigiEx has a pay-as-you-go model which enables its customers to make a commitment once they have trialed and tested the product.
DigiEx is ideal for monitoring and managing all payments. It is ideal for petty cash management, payment to supplies and employees because all transactions are centrally authorized and monitored giving authorized personnel or owners, in the case of medium to small scale businesses, an overview of the spending within the company The application, in contrast to manual process, offers corporates a multitude of benefits including ensuring security of transactions, fast processing, convenience, accuracy & improved traceability.
DigiEx can be easily integrated with existing accounting packages or ERPs and doubles as a virtual archive for receipts and other documents for later retrieval. Financial discipline is of paramount importance for any organization because the future trajectory depends squarely on how well – or poorly – the cashflow is managed.
Is digitalization changing the future of work as we know it?
Although aggressive vaccination is bound to usher in a sense of ‘normalcy’, it is globally observed that millennial and Gen Z categories would continue to work from home. According to a research by Gallup, it was seen that as much as 52% of millennials versus 29% Gen Xers resorted to the work-from-home arrangement. This figure was 17% among baby boomers.
There are many reasons why working from home is preferred. It is safer and cost effective for all parties involved. It is also favorable for the environment because processes being digitalized minimizes the need for paper – “paperless” was a sustainable approach that was proposed and adopted by many organizations before the pandemic but this movement gained momentum following the popularity of the work-from-home culture; many cite this coupled with reduced carbon emissions due to reduced travel as the only positive outcomes of the back-to-back lockdowns globally due to the coronavirus pandemic.
Making the shift to digital can be challenging at first but it is definitely a worthwhile investment in time to come as the world is headed in that direction. It is prudent to dabble in services such as DigiEx that require no initial payment or commitment before settling for what works best for your organization’s specific needs. What makes DigiEx unique is that it has been designed thoughtfully to be accommodating of businesses of all scales, across all industrial segments.
Sources:
https://www.gallup.com/workplace/238073/millennials-work-live.aspx