2021 trends expected to drive your growth.

Facing financial constraints and other limitations imposed by the pandemic, many companies have developed creative solutions to maintain a steady stream of revenue. With almost half of 2021 gone, it has been the year of transition for businesses. You will continue your evolution of changes.
Experts have projected what you can expect in 2021 and the near future. Here are samples of crucial business trends and challenges with which you can ensure your business’s success.

 

Finance

You have survived. There are now more financing options available and methods for maintaining and monitoring cash flow.

  • Raise your credit line and ask for higher limits on your business credit cards.
  • With less uncertainty about the COVID-19 impact, lenders are increasing credit lines and reissuing credit.
Apply for another round of PPP loans.
  • The Paycheck Protection Program continues to be a vital business lifeline.
Expand cloud-based accounting-related software utilization.
  • Technology streamlines your operations and enhances the bottom line.
  • You have seen how paperless processing and automating accounting for invoicing and payments work effectively for your favorable cash position.
Protect your positive cash flow with forecasted projections and monitor with budgets for growth.
  • Virtual CFO’s provide key insights without investing in higher costs executives and they are available on an on-demand basis.
Implement cost-saving sustainability measures.
  • With assistance from financial experts, integrate your technology expansion while using metrics to ensure no disruption of your operations and yield actual savings.

 

Marketing

With digital marketing changing faster than ever, the requirement to adopt new marketing methods is critical. Implementing upcoming digital marketing trends can help you stay ahead of the game and develop an effective marketing plan.

  • Stream your content live.
  • Live streams are raw and allow you to connect to your audience on a more personal, real-time level.
  • Communicate consistently with your customers using automation.
  • Marketing automation also maintains a steady line of communication with customers/clients.
  • Are you using social media scheduling tools?
  • Does your website have auto-reply to visitors?
  • What additional marketing tasks could you be automated?
Add voice search as an optimization to your website.
  • People are using voice command systems to find information about your business and make future purchases.
Be interactive with your customers.
  • Face-to-face interaction involves two-way discussion with your customers.
  • You can also plan campaigns that get customers involved to share stories, opinions, or content.

Technology

As in 2020, tech still plays a vital role in the growth and efficiency of your business in 2021.

  • Adopt 5G technology which significantly boosts the speed of your data transmission.
  • 5G networks are more capable of supporting the influx of interconnected intelligent devices.
Increase use of mobile tech.
  • Customers/clients are becoming so used to mobile services that they are becoming the new norm.
Integrate your software across your platforms.
  • Your connections will link multiple platforms and allow for seamless communication.
Strengthen your cybersecurity.
  • Cyberattacks on midsize businesses (SMBs) have risen significantly.
  • Fight back these data breaches by taking security seriously with comprehensive backup and disaster recovery solutions to ensure your business is protected.

Human Resources

  • Prioritize diversity and inclusion initiatives in your workplace.
  • Correctly implemented diversity and inclusion training programs and initiatives can help with your talent acquisition, employee engagement, and productivity, besides your employee retention and company’s reputation.

 

Conclusion

In 2021, your challenge is to move from reacting to the crisis to start building and driving more transformation.

For you, there will be new opportunities to evolve more and invest in capability building. You can continue to reconfigure your operations. To the extent you do so, greater productivity will follow, leading to an improved bottom line and other long-term benefits.

Plan! Adapt! Manage! Succeed!

AccuComp Enterprises is a team of experienced CFOs that can help you grow.

Contact us at m.parces@accucompenterprises.com. We are all in this together!