Digital transformation is being led by women entrepreneurs

Entrepreneurs and their businesses are seeing tangible and rapid improvements as a result of digital transformation. According to the 2018 Bank of America Women Business Owner Spotlight Survey, half of small business owners in the United States foresee a complete transition to digital payments in the next five years. And here is the good news, it is women who are leading the charge in using mobile devices to process payments and manage other transactions. The survey found that 33 percent of women entrepreneurs use a mobile device to process digital financial transactions, compared to 26 percent of men. They accepting more mobile payments from customers (71 percent of women versus 65 percent of men), and they pay their employees using mobile payments (19 percent of women versus 14 percent of men). Women entrepreneurs are also ahead of the curve in managing other aspects of their business on their mobile devices, including social media updates and hiring. It is good to see women harnessing the power of digital to help their businesses succeed.