2 Key Developments in Modern Business

In the last decade, businesses have evolved at a rapid pace. For many employees, the working environment is now completely different from that of previous generations. Traditionally, almost all forms of work took place in a centralized physical premises. This would commonly be a corporate office building or industrial premises. While industrial work often requires the need for a centralized workforce that is in the same workspace, this is less true for office workers or corporate staff.

Technological developments have led to remote working or hybrid models of work becoming a reality for millions of employees. Some forms of industrial and factory work are now changing too. The rise of dark factories that are almost entirely staffed by robots is an emerging trend that is poised to change industrial work forever. In this article, two other key business developments that have taken place in the last decade will be discussed.

Internet based IT services

Cloud computing was once simply a buzzword that was only fully understood by highly skilled IT professionals. Today, the concept is part of common business language and is understood by many employees from all levels and teams. Cloud computing requires a business to move its key programs and applications from local servers to internet-based services. An api management platform is then used to monitor, control, and update these applications. Such platforms also add security features that keep online infrastructures safe and reduce the likelihood of them being subjected to acts of cybercrime. Today, these online systems have provided the means for millions of staff to work remotely or adopt hybrid models of working where they can work from a home office for part of the week. Internet-based IT services are increasing across all sectors of business, and it is expected that most businesses will have at least elements of cloud-based systems in the next five years.

Outsourcing key functions

Outsourcing as a business practice has been growing in popularity in the last ten years. It was often associated with firms that were in financial difficulty and needed to severely restructure their operations to remain in business. However, today a wide range of businesses are beginning to routinely outsource key corporate functions to give them a cost-saving competitive edge. An example of this can be found in modern IT departments. Traditionally, the in-house IT team would be required to run IT support helpdesks, where they would resolve common IT issues (such as password resets and staff problems when accessing applications) and provide IT-related advice. However, many firms now outsource this function to dedicated third-party providers. This has the key benefits of keeping IT staffing costs low and allowing in-house teams to focus on more complex IT projects, such as the rollout and maintenance of new systems and applications.

Outsourcing in business is also a popular alternative to in-house teams when certain project work is undertaken. The business gains the expertise of a skilled external team, who will complete the project work to agreed timescales and standards. Once the project is finished, there is no longer a need to retain them over a longer term. This helps the business keep staffing costs low while benefiting from skilled teams with specialist project knowledge.