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Start 2021 right by making Ordo your instant bank transfer solution

Every year, businesses attempt to predict upcoming trends in order to prepare and stay ahead of the curve, but even the best business forecaster would have struggled to anticipate the events of 2020. Almost overnight, the pandemic radically changed consumer behaviour and working environments. After the year we have experienced, it might seem impossible to predict trends for 2021, but a recent article by McKinsey & Company lists several predictions for this year. We may see resurgence of travel, a spotlight on environmental concerns, and an acceleration towards digital technology such as Ordo, the secure, easy to use instant bank transfer solution.

A return to the skies

The travel industry was one of the industries hardest hit by the pandemic. Aeroplanes, coaches, hotels and the like were left empty because people did not feel safe traveling and quarantine restrictions were in constant flux. The approval of several vaccines has provided some well-needed good news for the industry which has been working steadily to make sure that travel is safe when it becomes a possibility

It is likely that the travel industry will see a resurgence – first domestically and then internationally. The pandemic may have dampened our ability to travel, but it has not erased our desire to see the world. Recent evidence from consumer behaviour in China at the end of 2020 suggests that when consumers are confident with health and safety measures surrounding Covid, they will begin to travel again. Less predictable, is a return to business travel. Many businesses have adapted well to the constraints of the pandemic by switching to remote working and relying on video calls instead of face-to-face meetings. Therefore, it is likely we will not see a quick bounce-back to pre-pandemic business travel. 

Environmental concerns take centre stage

Although some companies have been integrating environmentally friendly initiatives into their business models, many have not. For several reasons, this year could be the year that climate change takes centre stage. 

  • A push from governments. Many countries are linking their Covid recovery plans to climate change initiatives and the new administration in the U.S. has pledged to make the environment a priority. 
  • Concern from investors. It is not only governments that are taking an interest in climate change, investors are as well. The Financial Times reported that investors urged some of Europe’s most prominent companies to make sure climate change is considered in their financial outlook. 
  • Changing public sentiment. In 2019, two-thirds of the public wanted the government to take action on climate change. Although Covid has added to people’s worries a recent study suggests that it has not diminished their concerns about the environment. 

Pressure from the government and investors as well as changing public sentiment will mean that the environment will be high on the agenda of many companies. 

Digital technology is more important than ever

The change to digital had been building for some time, but the pandemic shifted it into high gear. At the beginning of the pandemic, a Deloitte survey found that in just one month “the percentage of shared services leaders who planned to accelerate digital capabilities in their global business services (GBS) organisations rose by 10 percentage points.” At that time many companies were still paying vendors with physical cheques and with offices closed or working with a reduced staff this meant a significant delay in processing payments. Businesses that had been slow to transition to a digital payment method, were forced to make it a priority because of the circumstances imposed by the pandemic.

With more businesses embracing digital technology, now is the time to try Ordo. Ordo is a fast, secure bank transfer solution that can allow your company to invoice payments and deliver an easy and safe checkout experience. With Ordo, there is no waiting for payments to clear. As soon as the customer pays, the money is available in your account. If you would like to learn more about how Ordo can make your company more efficient, arrange a demonstration today.