Money at the speed of a message. Perhaps this is the mantra that social media companies, internet companies and even a business process outsourcer are following as they eye a slice of the 95 per cent-plus cash economy that could potentially go digital. Many of those cash transactions — like person-to-person (P2P), person-to-merchant (P2M) or consumer payments — could be done on digital platforms such as chat rooms or messaging apps. Accelerating the shift from cash to digital is the government’s ..
You might think text and email are better because they’re faster. You can send them at your convenience without needing to schedule a time. But real-time conversations allow a rapid-fire exchange of information. You can correct any misunderstandings immediately. You can negotiate what you need to do, and what needs to get done right away.
In order to make calls efficient, though, you do need to prepare for them. With email and text, you have downtime to think about what you want to say next, which can be a asset. But it can also be a huge source of procrastination.
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If you don’t want to be caught by surprise, you have to recognize that the future will be different from the past. The future is unfathomable, ambiguous, and open to every option. One major move by a competitor, or one new technology, is sometimes all it takes to end an empire. If your current business is like a carefully tended garden, with neat beds and high walls, that’s not enough. The next opportunity (or threat) may lie outside those walls, at the messy intersection of sectors and markets
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