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Digital Economy Blog

 Government Supports Available to Irish Companies The difficulties created by Brexit highlight the importance of the current system of government assistance from small and medium-sized businesses. SMEs can reorganize their cost bases and reprice their goods and services with the help of state-backed, reasonably priced, flexible finance in order to continue trading with the UK despite how weak the pound is. Strategic Banking Corporation of Ireland The Strategic Banking Corporation of Ireland's (SBCI) strategic goal is to provide Irish SMEs with efficient financial solutions that solve flaws in the Irish credit market. In addition, it aims to promote innovation and competition while ensuring the effective utilization of all EU resources. By using an on-lending mechanism, the SBCI avoids making direct loans to SMEs. Instead, it makes it easier for on-lenders (partner financial companies), to provide flexible, affordable credit to Irish SMEs. Irelands Strategic Investment Fund ISIF add...
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Digital Economy Blog

  How Technology impacts Decision-Making for businesses Within a business, decisions must be made, and no matter how straightforward or complex these decisions are, they must be consulted for a business to run smoothly. Utilizing technology can make your job as an executive easier by ensuring the ongoing functioning and growth of the company. Technology makes information available to all decision-makers, speeds up workflow, and boosts effectiveness. Technology also gives department managers the chance to communicate with their teams more effectively and execute choices while updating staff on how to complete activities that will benefit the organization. Data Collection Data collection can be accelerated by technology to aid business managers in making more timely and efficient decisions. The business will be able to gather up-to-date sales data and make decisions based on this data by providing network links between customers and its main database. In addition, supply ch...
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Digital Economy Blog

  What are some of the issues to consider in determining whether the Internet would provide a business with a competitive advantage? Although the IoT (Internet of Things) can aid businesses in boosting output, reducing expenses, introducing contemporary goods and services, and establishing new business strategies, there is also many issues that come with the utilization of the internet platform to gain a competitive advantage in the market. The adoption of IoT may require considerable integration and qualified personnel. Additionally, it frequently generates requirements for security and interoperability which refers to the ability of various computer systems and applications to "speak" to one another. Security Security and confidentiality issues become crucial considerations for all internet businesses. Millions of dollars are spent annually on security measures to guarantee the security of transactions and the comfort of customers making purchases online. Beyond routine...
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Digital Economy Blog

  3 eCommerce trends that are currently dominating the sector The importance and scale of eCommerce is increasing significantly. Global eCommerce sales are expected to reach $4.9 trillion by 2022, jumping from just $1.3 trillion six years ago. The sectors incredible 265% growth rate is what has led to its increasing relevance to the economy as a whole. The eCommerce industry is still very innovative despite these macro trends. New patterns, sources of income, and chances for creativity open the door to newcomers. Social + eCommerce = Social Commerce Social Commerce is a relatively new eCommerce trend which has been avidly embraced in a number of sectors. Users who avail of social commerce can buy goods or services directly from a social media platform, without exiting to a separate online store. Consumers benefit from a better shopping experience thanks to social commerce. Due to the captive audience and the simplified customer experience, it also offers potentially greater convers...
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Digital Economy Blog

  The Battle Between Walmart & Amazon Walmart dominates the physical space and Amazon leads online retailing. Whilst Walmart has been around for 30 years longer, the two retail giants now fight for the same customers. The two brands compete on everything from innovation to digital growth, logistics and sustainability. Up until 2015, e-commerce was not considered a viable direction to transcend Walmart. However, to compete directly with Amazon, Walmart decided to leverage its 13,000 physical stores worldwide and its title of being the world's largest retailer to become one of the world's largest and fastest growing and most dynamic e-commerce organisations. In order to cross the intersection between physical and digital, firstly, Walmart needed to create that differentiation between the two modes of retail. Consequently, Walmart online strategy was to build the best-in-class e-commerce and marry that with its organisational assets. Essentially, Walmart's goal was to sati...
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Digital Economy Blog

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Exploring different website creation platforms and the relative services each provides Recently, I have been learning about the various online platforms which aid in the creation of websites. I was quite surprised by how easy it was to create my own website! Within ten minutes, you can develop your own website and even have physical products to sell! To gather information on how these online platforms work, I set up a fake website on both SimpleSite, Wix, and Shopify to test the accessibility of each. SimpleSite SimpleSite's easy-to-use features allow users to personalize the theme of their homepage, but also, by using the design wizard, one can simply customize the website to their own liking. SimpleSite also offers greater flexibility in terms of content. Whether you are displaying your portfolio, or wanting to promote your newest product range, SimpleSite will find a theme to suit!  Additionally, the platform is mobile friendly. All pages are able to adapt seamlessly to whatever...
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Digital Economy Blog

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E xplore a company using Enterprise systems and identify the key challenges they faced during Covid-19 H&M Hennes & Mauritz AB was founded in 1947 by swede, Erling Persson, Originating from a hunting and fishing store, H&M now offers couture fashion and designs in an exciting and sustainable way. Ranking number three on Gartner's Supply Chain Top 15, H&M is the worlds second-largest clothing retailer. With around 950 stores worldwide and a turnover in 2013 of a colossal 14.6 million euros, this poses the question as to how H&M manage to ensure efficient operations throughout each one of their stores globally? The answer to this is quite simply stock control management. H&M relies on efficient and integrated systems for retail inventory management and in the major components of its supply chain. Design and Production H&M is renowned for supplying elegant, trendy styles with rapid turnarounds - embodying the concept of 'fast fashion'. H&M's...
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