Expansion of business services through remote working

1. Expansionofbusinessservicesthrough remoteworking Remote working is the way to function post-pandemic. But how did it begin in the firstplace? Working with remote teams is not a new concept. It has evolved over the years through various business models. It is a tried and tested working model which has proved to be helpful for companies planning to expand their operations in foreign countries. Forinstance,ifwelookattheevolutionofbusinessmodelsused to expand businesses,outsourcingandfreelancinghave used remote working to a great extent. The majority of the IT, telecommunication, and marketing industries have usedthis model to expandtheir businesses globally.

2. IndiaforinstancesawamajorboominITandotherservicesduetooutsourcing and subsidiary formation. India’s open-door economy has welcomed many foreign companiestoestablishtheirbusinessinIndia.Inaddition,theindustriesand services in India easily adapted to remote working during COVID-19 pandemic. To geta clear understanding of how India’s business sector has evolved over years and how it has become a top destination for global business expansion, refer to our blogThe best route for globalbusiness expansion in India. Remoteworkinganditsbenefits Inremotework,anyonewith the right talent, skill set, and qualifications can find a job without any geographical barriers. The misconception that only technological, non-core processes, and IT-based industries can function remotely has completely changed. The COVID-19 pandemic has boosted the confidence of many SMEs to functionremotely.Now,variousfunctionsinindustrieslikehealthcare, pharmaceuticals,accounting,media,andevenlegalservicesarecarriedout smoothlythrough remote working. There was a time when working remotely was considered difficult, as technology didn’t exist. The emergence of cloud computing, video conferencing, and advanced communicationtechnologieshavemadeiteasytoworkin adynamicand productiveremote environment! Remote working inspires employees to look beyond their local work territories, and exploreworkoptionsworldwidewithhigh international wages. Building remote teams with employees who wish for flexibility, varied experience, and higher growth works best for small and medium-sized enterprises that wish to test their business internationally. Remote team building is exactly what an EOR can help you achieve. An Employer Of Record services will be your legal employer and build a remote team for your businessandwilllookafteralltheHR-relatedresponsibilitiestosimplifythe businessexpansion journey of acompany. Let us understand how the ever-evolving business model of remote working has helpedvariousservicesandbusinessfunctionsworldwide.Thiswillgiveaclear view of numerous business options to choose from, to function and excel in today’s remotebusiness world!

3. Expansionofbusinessservicesthroughremoteteambuilding • Healthcare The traditional doctor-patient relationship has thrived and is now building through telecommunication,digitalmedia,andotherhealth technology. Digitization gave risetoconnectedhealth,alsoreferredtoastechnology-enabledcarethathelps youaccess quality care and consultation. The number of patients preferring television has increased by 50% since 2020. In addition,thedefenseandmilitaryserviceshaveincorporatedtelecommunication and telemedication in their training. They have also made impressive use of these remote services for the treatment of injuries on battlefields and on inaccessible grounds. • ITandITESservice ITandITESserviceshavebeenspearheadingtheremoteworkingmodel for decades.Infact,manycompanieshaveexcelledduringtheCOVID-19pandemic bybuildingremoteteamsandwish to adhere to it even during normalcy. For instance, in India, 90% of IT employees and approximately 70-80% of BPO firms, e-commerce,andSMEshaveshiftedtopermanentworkfromhomeand acknowledgedthe success of remote work. ManyITleadersandCEOsdecidedtoadoptcloudtechnologiesand cloud-deliveredapplications such assoftware as aservice (SaaS). To make business status tracking, team communication, and interactions easy, and toavoidanychallengesduringremoteworking,numerousnewsoftwareand applicationswere developed by ITES.

4. Aswiththerightsetoftools, everything canbe simplified inremote working. These area fewexamples that cansimplify working withremote teams globally. • Humanresources Humanresourcesasabusiness function is growing rapidly in the teleworking switchtoday.Findingtherightemployeesremotelydespitethegeographical barriersandretainingemployeesvirtuallyisattimeschallengingforhuman resources professionals. HR services or HR teams have opportunities for improving internalcommunicationsratherthanjustprovidingemployeeswithcompany information. Increasing the use of collaborative tools and cloud-based HR software helpsin smooth business continuityin any organization. Inaddition,thedeploymentofadvancedsoftwaresuchasApplicanttracking system(ATS),payrollsystem,andleaveandattendancetrackingsystemsensure

5. precise and effective payroll solutions. Adoption of in-built surveys and employee engagementtoolsalsoprovideroomforimprovementandgrowthandhelp employeesstay content within thecompany virtually. • Entertainment,media,andanimation Theentertainment,media,animation,andcontentdevelopmentserviceshave changed the way we perceive, produce, and portray content. Heavy investments in virtualreality,animation, and special effects, and bolstering streaming services such as Disney Hotstar, Netflix, and Amazon Prime have transformed the media landscape.Digital media revenue has increased by 31% in 2020 and will continue torise throughout 2022. Theconstantneedforadvancedaugmentedrealitygames,foranenhanced at-homegamingexperience,hasprovidedinnovativebusinessexpansion opportunitiesforvariousremoteworkingteamssuchasvideodesigners.For example,in2020,gamescreatedforFacebook’s Oculus Quest and Quest 2, accounted for 1 million dollars, with just the headsets bringing in over a billion dollars. • Education Remoteeducationhasbeenundertheradarpost-pandemic.Theflexibledelivery ofe-learninglecturesandtutorialshasbeeninstrumentalinacquiring multifunctional knowledge in the comfort of our homes. Interactive e-learning tools, along with freedom from constant supervision fuel remote learning students to work andstudy harder.Theyare responsible for theirown skill and education.

6. Coursera,ane-learningplatform,recordedtheregistrationof20millionnew students in 2021. Regionally, Africa witnessed up to 50% growth in online course enrollmentand a growth of48% in terms ofstudent registrations. Remote team building in education services has been instrumental in educating school officials, teachers, and parents regarding student learning and social care duringthepandemic.Infact,themajorityoftheremotesolutionscurated for imparting education and training online are free universally and cater to multiple languages. • Engineeringdesignanddrafting AsthebookbyStephenBayleyandTerenceConranrightlysays,“Design is intelligencemadevisible”.Nothingconcretecanbebuiltwithoutadetailedoutline ordesign. Remote designing services have proved to be extremely important for accessing qualitative work in shorter timespans. The large, interdisciplinary, and advanced Systems-of-Systems (SoS) can be developed due to the evolving Model-Based SystemsEngineering (MBSE) approach. In fact, such an approach has helped in the emergence of remote engineering design teams. These teams comprising skilled and talented professionals, help you developdesignsfor any of engineering focus. These include mechanical, civil, architectural,aerospace, nuclear, and manymore. • Accountingandfinancialservices Over the past decade, banking and financial services have embraced digitization, improvedcustomerexperience,andhencestreamlinedbankingserviceseven duringthenewnormal.ThedevelopmentofUPIandotherpaymentgateways

7. (GooglePay, Paypal) has increased the adaptability of digital payment into various sectorssuchas retail,e-commerce, wellness,insurance, andsavingschemes. Intheseservices,almostalltheaccountingfunctionscanbecarriedoutremotely. Be it taxing, auditing, bookkeeping, budgeting, forecasting, or even maintaining investor relationships, everything can be carried out through a remote model of working. In addition, there are opportunities to develop remote working systems in areassuchasFinancial Planning and Analysis (FP&A) which at times require in-personcollaboration.Withpropertrainingforbankingofficialsandadvanced dataprotectionstrategies,financialservicescandefinitelythriveandsucceed throughremote working. • DigitalMarketing Modern marketing techniques have blurred the lines between branding and PR and havedevelopeddata-drivenmarketingstrategies.ForanySMEwho wants to expand their business internationally, digital marketing becomes the voice of the company.It helps connect to customers globally through social media platforms suchas LinkedIn, Instagram, and emails. Astheworldmovesintothedigitalera,ithaspredominantlyfollowedthe mobile-first approach. Hence, it is important to develop mobile-friendly marketing materialthatincorporatesmultimedialikevideos,photos,andsoon.Many companiesareheavilyinvestinginthesedigitalremotedigitalworkforcesto developtop-notch digital marketing strategies. • DataAnalytics Variousindustriesaroundtheworldareembracingbigdataand dataanalytics due toitsoperationalgainandhighefficiency.Withthehelpofadvancedcomputing

8. tools such as Microsoft excel, python, and SQL, data analysts function to convert rawdatainto conclusive and meaningful insights. These insights provide light on the business problems and deduce a statistical solution. With the growth of various industries, the importance of data generation, sharing and storage has increased overthe decades. Indataanalytics,fromscrutinizingrawdatatoanalyzingandinterpretingit, everythingcanbedoneon acomputerremotely.As per the Jobs of tomorrow report 2020, data analytics and Artificial intelligence have shown the highest growth rateof up to 41% per year. Withthegrowthofthenewera of remote and location-independent working, big data analysis, virtual team building, and the development of advanced computing techniques, we can definitely see that remote data analytics functioning is here to stayand will always be in demand! • Backofficesupportworkforce The back office workforce is an integral part of many end-use industries such as telecommunication, retail, and e-commerce, across the globe. It involves non-core business functions such as data entry, IT support, content creation and moderation, andquerymanagement,whichisanoverviewfocusonenhancingcustomer experience. Various companies outsource these functions to focus on expanding theirbusiness. ThisishowBPOs(BusinessProcessOutsourcing) emerged in the market and havehelpedvariousbusinesssectorsattainscalabilitywhilepromisinghighly efficient and reproducible results. Accenture, Wipro, and Tata Consultancy Services (TCS) are a few renowned names that provide diverse BPO services worldwide. ADPis another well-known name that handles HR and payroll management for varied companies across the world. When we talk about countries, India is now a popular digital hub that has grown its BPO-IT industry over the past ten years. Remunance has been successful in providing end-to-end HR solutions to SMEs from various services. Here are a few instances of how we helped companies set theirfoot in India.