Valuation Best Practices: Using the Internet as your Apprentice

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Not many years ago, success rates of businesses were determined by the reviews printed on them in the magazines or newspapers. As time passes, the need for modernizing valuation best practices has grown to quite a noticeable extent.  The world is delving into a pool of digital services making paper reviews and book views look like a thing of the past.

Companies that use digital services for advertising, information collection and connecting with its customers tend to be far more successful than the ones who don’t. The reason is simple. It is because almost everyone possessing a computer or digital service at home is able to connect to the world.

This connection leads to the sharing of views and reviews about different products ranging from magazine issues to the discussion on new or old policies implemented by a company or an organization. For example, a company selling iPods can be informed by its customers whether the product is working efficiently or running a fault.

The quick reaction to a customer complaint e.g. placing a replacement order or reimbursement etc. increases the company’s credibility and through the spreading range of social networks, the word of efficiency will reach users everywhere. The future of your company will change directions in minutes due to the growing social networks.

Creating a website for your company is no big deal but it has to be different than the rest of the million websites hovering over the internet. Use techniques like personalization where you can start blogs or articles written by your company personnel. You could also use your website for company press releases so that your customers don’t have to wander on other sites for information on their company products.

With the latest versions of online tools and research gadgets, your customers and business partners can understand your company policies better and compliance would become easier. Transactions and meetings can be done online, thereby saving a lot of time. Video conferences are popular forms of meetings now days.

Further reading: Corporate Governance | Audit | Performance Improvement

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