It was not so long ago that we received our salary in actual cash inside an envelope – wow!! At the bank we used to queue and get a teller to deposit our money.
Banking is done in the Cloud now and we take it for granted that we have Internet Banking at our finger tips. This has been a massive cost saving for banks as they have turned their customers into staff by getting them to key in the transaction. We do this because we trust the system and things very rarely go wrong.
In your business, web based transactions offer you the same level of saving provided that you can delivery successfully every time. There is no way that you can wing this it must be done properly to ensure the customer trust is high enough that they will prefer to use your technology over your competitors technology.
The next 10 years in business are going to be about cost saving as customers will continually expect better value as the “Moore’s Law” effect applies to everything.