Unlocking Business Potential: Mobile Technology in Business Management

Unveiling Surprising Mobile Technology Statistics

To comprehend the pervasive impact of mobile technology on our lives, examining some astonishing statistics regarding its usage proves illuminating:

• The number of mobile phone users in Bangladesh exceeds a staggering 180 million (Bangladesh Telecommunication Regulatory Commission Report, July-2023).
• Mobile internet users in the country total more than 130 million (Bangladesh Telecommunication Regulatory Commission Report, July-2023).
• Among the country's total internet users, a remarkable 90.79 percent, equivalent to 119.7 million users, access the internet through mobile devices (Information: The Daily Star, October 13).
• Mobile phone users in the country constitute 63.3 percent, surpassing the total number of television users (Report on Information and Communication Technology, ICT Survey-2023).

This surge in mobile phone and smartphone usage is not solely attributed to social media engagement. A significant catalyst is the widespread adoption of digital services facilitated by mobile technology.

The Indispensability of Mobile Technology in Business Management

As businesses across various sectors increasingly embrace technology, mobile phones or smartphones emerge as the primary conduit for this technological integration. The pervasiveness of online businesses or e-commerce globally, and the burgeoning e-commerce industry in Bangladesh, underscores the imperative for businesses to become tech-friendly.
Consider the transformation of a street-corner fruit vendor who now accepts online orders, delivering products directly to customers' doorsteps. Similarly, businesses that traditionally maintained manual bookkeeping now employ mobile apps like HishabPati for streamlined accounting. Particularly for small businesses, mobile technology and smartphones serve as pivotal tools for product transactions, promotion, and marketing.
In this landscape, mobile technology is crucial for ensuring the participation of businesses across all sectors in the realm of information and communication technology. Businesses must adeptly navigate the confluence of conducting business and utilizing mobile technology. Gradually, mobile phones are evolving into focal points of economic activities. Let's delve into the ways this small electronic device in our pockets is facilitating business operations, both small and large.

Various Mobile-Friendly Technologies in Business Management

Mobile technology permeates communication and financial activities, constituting a significant portion of daily tasks. From digital marketing and business accounts management through mobile apps to financial transactions via mobile banking, smartphones are indispensable tools. Here, we explore the top five sectors utilizing technology for business management through mobile devices:

1. Mobile in Information and Communication Technology

The advent of mobile technology has ushered in an unprecedented revolution in information sharing and communication. A trader in a remote village can now effortlessly connect with counterparts in the city to determine the prices of goods. Young entrepreneurs can instantly access business data from any part of the world, facilitating a global perspective while remaining within the country.

• Use of Search Engines for Information Retrieval: The world's preeminent search engine, Google, is now accessible at our fingertips. Alongside Google, platforms like YouTube, Yahoo, and Bing provide a wealth of information on various subjects. These search engines empower users to acquire new skills through videos, fostering innovation in their businesses.
• Communication and Business through Social Media: Platforms such as Facebook, LinkedIn, Instagram, Twitter, WhatsApp, and Messenger have become immensely popular. Out of approximately 7 crore (69.94 million) active internet users in Bangladesh, nearly 6 crore (59.02 million) use Facebook (Source: The Business Standard, July 18, 2023). These social media channels, serving both social and business communication purposes, have given rise to thousands of businesses through Facebook business pages.

These platforms are as much used for business as they are for social communication nowadays. And who doesn't know that communication is the lifeblood of business! Thousands of businesses have flourished through Facebook business pages. Over 30 billion worth of transactions take place on Facebook-centric businesses annually. And the primary driving force behind most of these is mobile and mobile technology. It's evident how popular business management through mobile has become.

2. Use of Various Mobile Apps or Software

Examining the statistics reveals that 11.97 crore internet users are exclusively mobile internet users, constituting 90.79 percent of the total internet users. This underscores the widespread popularity of mobile technology.

• Apps for Communication: Popular apps like Messenger, WhatsApp, and LinkedIn cater to the communication needs of these mobile-centric internet users.
• Financial Services Apps: Following social media apps, financial services or fintech apps, including mobile financial services (MFS), mobile banking apps, and HishabPati apps for business accounts, play a crucial role in the daily activities of mobile users.

Additionally, there are various customer service-oriented apps, product delivery apps, and specialized apps for marketing campaigns. That's why all these apps are designed to be mobile-friendly.

3. Impact of Mobile Payment Solutions on Business

Mobile payment solutions have emerged as globally accepted means of financial transactions. Popular solutions such as:

• PayPal
• Google Pay
• Amazon Pay
• Apple Pay
• Square
• Shopify

In Bangladesh, mobile wallets like:

• Bikash
• Rocket
• Cash
• SSL Commerce
• Upay
• Amar Pay
• Pioneer

The globalization of business and commerce is greatly facilitated by mobile payments. With this medium, payments can now be easily made from anywhere in the world while sitting in one's own country. As a result, the impact of mobile technology on business has become even more extensive. This includes secure payment systems such as QR code payments and contactless payments. Even small businesses are now enjoying the direct benefits of mobile technology.

4. Impact of Digital Marketing and Social Media Marketing on Business

As social media platforms are inherently mobile-friendly, they have breathed new life into business operations. Small and medium-sized enterprises now engage in digital marketing campaigns, moving away from traditional methods. Tools of Digital Marketing Include:

• SEO (Search Engine Optimization)
• SEM (Search Engine Marketing)
• PPC (Pay-per-click)
• SMM (Social Media Marketing)
• Content Marketing
• Email Marketing
• Affiliate Marketing

Digital marketing is marketing using digital platforms. It has become so popular now that any business thinking of doing business online plans to do digital marketing. Whether it's a small business or a big business.

5. Use of Artificial Intelligence (AI) and Chatbots in Business

Artificial Intelligence (AI) and chatbots have simplified the provision of services to customers. Automation of customer services, including 24-hour communication through chatbots, automated order processing, and email and message communications, exemplifies the impactful role of AI in business operations.

If you are a business owner, you can manage everything from keeping business accounts to customer support entirely through the use of mobile technology or technologies.
With a smartphone, you can bring your entire business into the palm of your hand. Therefore software as HishabPatior AI, all technology is now mobile friendly. Therefore, using various digital tools through mobile for business management is now a necessity. Try using an accounting app for business management and see how much easier it becomes to run your business! Download HishabPati app free now and install it & feel the difference.