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A decade under the influence – How the 2010s shaped the business world

Reflecting on some of the big changes that have happened over the past decade can allow you to spot areas in your own business that have not yet caught up to the rest.

Since the computer revolution, each year has brought more and more changes to the world at an accelerating rate. When looking at the past decade, it is incredible to explore some of the things that many now take for granted that did not exist a mere ten years ago. This is just as true in the business world as it is for anything else.

Reflecting on some of the big changes that have happened over the past decade can allow you to spot areas in your own business that have not yet caught up to the rest. Taking time to consider where others have improved their processes and have made big advances in terms of saving money and time will help you move your business to ever greater success.

Let’s look at some interesting ways that the 2010s shaped and changed the business world.

Accounting Software Revolutions

The 2010s saw huge changes in the way that accounting processes were handled by businesses. With the advent of contemporary small business accounting software, the formerly tedious tasks involved with bookkeeping were revolutionised and streamlined. With these changes came more secure financial data and more accurate reporting that far surpassed the precision that resulted from completing the tasks manually.

If your business has still not yet experienced the advantages that come with accounting software, then be sure to upgrade as soon as possible. Businesses in virtually all sectors have fully incorporated accounting software as the new normal for accounting processes.

Freelancing And Flexible Work

One of the biggest changes to the modes of work that occurred in the past decade was a massive shift towards freelance and flexible work. Thanks to the internet, employees are now able to work from anywhere, and businesses everywhere are benefitting greatly. By providing your employees with the flexibility to work from home, even on a part-time basis, they can save time from their commute and focus more energy on boosting your business. There are even many software packages that allow teams to collaborate and work together seamlessly from disparate locations.

In the coming years, you can expect that the trend towards freelancing and flexible work will only continue to strengthen.

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Advanced Analytics

Whether businesses operate as brick and mortar shops or exist fully online, the 2010s saw a dramatic rise in the ability of both types to exploit customer data analytics for improved decision-making. Now more than ever before, it is considered standard practice to use customer details and data to move businesses towards the preferences and needs of customers.

The Experience Economy

Especially in developed nations, there was a continuing shift towards what many have termed the experience economy in the 2010s. Noting that customers were increasingly interested in the overall experience they have with a given company, businesses have realised that they need to do more than simply provide goods and services as they have in the past. Now, it is important to consider every aspect of the way that your customers engage with your business, beyond simply an exchange of funds for a material good.

What Is In Store For The 2020s?

With so many changes in the business world over the past decade, it would be foolish to say with confidence what the next ten years will bring. While businesses must anticipate what trends will be useful and what risks need to be addressed as we enter the new year, many of these things remain uncertain. Make sure to incorporate the successes and developments of the last ten years into your business processes to be on the best possible footing for the years to come.

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