Mobile apps are a relatively recent phenomenon in the grand scheme of things, and yet are used worldwide by billions of people. Their variety and uniqueness has revolutionised many areas of people’s lives, from entertainment to the way we access information. Here are some of the ways the app revolution has affected business.
Arguably one of the greatest and most wide reaching effects of mobile apps is the fact that they have paved the way for new businesses to exist who create and sell apps. Creating an app does not necessarily require expert knowledge, yet the right idea can make millions.
Many people have started off with a simple idea and made a business out of selling their app on the various app stores available, or made a profit from the advertising revenue. Therefore, mobile apps have been the platform on which many businesses have been able to exist and thrive.
Marketed/Boosted Existing Businesses
Leading on from this, many businesses have created apps to promote their existing business, or to offer information on it. Some trading brokers, for example, have created apps which allow customers to access the global markets from their phone/device, meaning they do not have to stay at their computers all day to conduct trades.
This accessibility means businesses get more custom from a potentially wider variety of people, as they have their product/service on another channel, and thus gain more exposure and engagement. This has opened up lucrative opportunities for businesses to expand and diversify.
Sped Up Payments
Another way businesses have benefitted from apps is through the creation of payment apps, which have allowed customers to pay businesses with greater ease, as well as businesses to transfer money. Mobile wallet apps such as Android Pay, for instance, have allowed people to pay by simply scanning their phone on a card terminal.
This has vastly sped up transactions and managed to successfully combine two pocket items into one (phone and wallet), so it is easy to see why these types of apps have been incredibly successful.
Many businesses rely on financial news and information to make decisions about spending and investments, amongst other things. The creation of apps which allow access to financial news have therefore sped up the process of being able to access this.
Apps like Shoeboxed allow businesses to manage all their receipts with easy by storing them electronically by simply taking a picture of each one. The same also applies for business contact cards with this app, making it an invaluable time saver. There are a whole host of other bespoke finance apps designed to suit the many varied needs of each individual business, many of which increase efficiency and save time.
Mobile apps are a true game changer when it comes to business transactions and organisation. Having already accomplished a great deal, they will no doubt have a long and prosperous future ahead of them, as more and more are developed to adapt to the changing needs of businesses.