With the 21st century being defined by globalisation, the process of being connected to the international stage through virtual networks has revolutionised the American business landscape. Whether monitoring the European and Asia markets, or trying to assess the potential of an overseas venture, American businesses need the latest online software to remain competitive. More specifically, the online format has created a world economy that has brought business interests from around the world together and made the world economy even smaller.
At no time other than the present has American businesses had to compete on the world stage other than at this present time. For this reason, many businesses have moved a number of their daily functions to an online format and thus have taken part in revolutionising international business. Online outfits such as Servcorp virtual offices and others have made it possible for American business interests to provide structure to their remote-working office.
Let’s take a look at just some of the ways international business has been transformed by the virtual office and how it is continuing to change the way we do business.
Testing Markets
The virtual office has pretty much made it possible through online metrics for professionals in America to research and test markets without even having to travel. In addition to providing businesses access to major financial indices, which house information regarding business fundamentals, the virtual office has made it possible to get this information in real time.
A business interested in doing business in the Asia market, for example, could access information regarding the latest news on the topic in the country, look up the business’s symbol, research the industry, and even research their target market from any location in the world. While they would eventually have to travel to the international location before setting out their shingle, this preliminary information would tell them whether the trip is worth the effort.
Public Relations And Advertising
The virtual office has revolutionised the way in which businesses relate to the public altogether. For one, many of the public relational activities that used to occur in real space have moved to virtual networking. Whether it involves researching SEO keywords that will increase visibility online or whether engaging the public through social media, businesses have found the online format a fertile landscape filled with opportunities to make money.
Even advertising has evolved through businesses, and people for that matter, branding themselves to appeal to a specific segment in society through the online format, whether it involves establishing a public format for conversation or promoting themselves on YouTube.
Hiring
The virtual office has made it possible for businesses to hire top talent from around the world. With the number of online business management tools and professional social media sites, employers no longer are limited by geography or time in hiring candidates. Essentially, the job market has become an online bazaar where employers can review, interview and hire professionals for full-time, part-time and contract work without having to go through the bureaucracy associated with earlier incarnations of human resources.
Finance
More Americans have adopted online banking and shopping as a way to better manage their money, and this is the case with American businesses as well. With the rise of online banks that serve as intermediaries involving third parties (i.e. PayPal), businesses have relied heavily on the electronic transfer as a means to reconcile invoices and receive payments.
Furthermore, these payment methods are evolving into others like cryptocurrencies, which provide businesses with more flexibility and purportedly more safety. For the most part, the virtual office format has revolutionised finance by providing businesses with a structured online platform that streamlines many of these tasks.
The Quiet Revolution
American businesses are faced with an ever-changing economic landscape that allows them to engage with international markets effortlessly. Much of this has been because of the advances in technology that make virtual offices a relevant tool for businesses today. For Americans, this quiet revolution that has happened overnight has made it possible for your business to connect to the world effortlessly.
