Innovative Businesses Point to the Future of Business and Finance

As society and the economy hit the mid-year mark for 2022, it provides the perfect opportunity to consider current progress. We can also assess how the future of business and…

As society and the economy hit the mid-year mark for 2022, it provides the perfect opportunity to consider current progress. We can also assess how the future of business and finance might shake out. Just as Henry Ford predicted flying cars for the automotive industry in 1940, finance gurus are looking to see the next big innovation. Moreover, they want to know what new developments will help solve current and upcoming issues.

How will business owners manage payroll for remote workers more efficiently in the coming years? Will the use of fintech make businesses soar in productivity? What is really happening with traditional credit card payments? What will the office of the future of business and finance look like?

With such questions and upcoming changes, it’s essential to understand how to make the most innovative moves in such a turbulent economy to save money for retirement and make the best decisions for yourself and your assets. To help you along the way, here is a highlight of the latest in corporate finance technology, staffing, and work processes. Fintech Is Quickly Gaining Popularity

Companies and customers alike are swiftly moving toward the use of digital currency. Online banking has been around for a while, increasing customer confidence.

Now, fintech is rapidly gaining steam. Six percent of American households avoid traditional banking like the plague. Cryptocurrency — including Bitcoin, which is increasingly gaining interest as an alternative investment option — is becoming more well known. Apps like Venmo or Paypal allow consumers to directly send money digitally. They provide another example of fintech that has gained more awareness with average consumers.

However, even more, exciting applications are on the near horizon.

While v-commerce (paying with your car), payments between worlds in the metaverse, VR travel, and other exciting forecasts listed in FIS’ Future Payments Prediction for 2025 definitely seem like they are a few years away, there is a lot of compelling innovation that is already happening. At the core of the finance revolution, payment ease is driving growth in various industries. These include (but are in no way limited to) travel, grocery, and gambling.

Current fintech innovations will power consumer commerce for many years to come. For example, Airbnb, Expedia, AirAsia, and companies within the travel industry are in a global race to create super apps that cover the entire travel journey, from comparing prices to booking tickets to choosing where to stay.

Companies making decisions easier for consumers can likely create brand loyalty . As payment methods become connected through these apps, it makes it easier to offer personalized purchases and experiences. As statistics show, younger generations value experiences over materialistic purchases. Making those purchases easier is a way to influence how money moves as younger generations begin to hold more wealth and purchasing power. Fintech Is Making Inroads Everywhere

Updated purchasing methods are also affecting grocery shopping. While Amazon has already introduced some grocery stores utilizing Just-Walk-Out shopping, more pay-without-contact options will be part of our shared future of business and finance.

Large grocers are also looking to consolidate the shopping experience. They’re doing this by adding banking as a service (BaaS), both for everyday consumers and their vendors. For example, one app that can process transactions and handle your banking turns the grocery chain into a full-service stop.

As the grocery store becomes a hub with EV stations requiring slightly longer charging times — grocers are getting clever about combining payments and convenience to keep customers loyal to one brand over the other. The Outsourcing of Staff Management and HR

Another area that is seeing quick adaptation as consumers and businesses become more comfortable with technology is the area of staff management.

The Covid-19 pandemic forced workers to be adaptable and learn to be productive at home. But, at the same time, managers and company leaders had to adapt to managing a staff they don’t get to see every day.

As remote work and hybrid work environments gain popularity, employees expect flexibility. If a company doesn’t meet these needs, workers have other options. Similarly, The Great Resignation showed it’s an employee’s market. Additionally, employers have to find new ways to attract workers. As a result, staffing is the following major hurdle companies are clearing in this new age.

Revelo is a company in North America that works with Latin Americans to fill remote positions . More than 100,000 professionals have […]

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