BUSINESS AND DIGITIZATION
Digitization is a process of converting information from the normal form into a digital (computerized) format. This format presents data that is represented as bits or bytes.
It is an automation of manual and paper-based processes, empowered by the digitization of various information. Digitizing an organization provides an advantage of doing things faster, better and cheaper. This can offer better profits and value-producing opportunities. Digitization is key to a successful business.
A digital transformation refers to the adoption of digital processes and tools to achieve strategic business goals. It’s a complex, multifaceted process that represents a massive cultural shift in the workplace and changes that affect every part of an organization.
The Importance Of Digitization
Why is digitization so important? It improves accessibility and facilitates better information exchange for staff and customers. It also helps to improve the efficiency of the business process, consistency, and quality. It can:
- Integrate conventional records or files into a digitized form, eliminating redundancies and shortening of the communications chain
- Improve and facilitate a better informational exchange
- Help in providing customer service anywhere in the world
- Reduce operational cost
- Prevent human error
- Take advantage of analytics and real user data
- Improve the continuity of business growth
Creative digital solutions give a competitive edge in the business world to enhance quality, reinvent profitable methods and promote consistency. Hence, there are many companies who have adopted digitization of business as it:
- Saves cost
- Increase efficiency
- Lack of human error
- Improves data security through cloud storage
- Enable data analysis
Digital Marketing has become a solution for all type of businesses. With a set of tools and marketing strategies, it helps to promote your brands or services through the internet. Be it a small business or a big organization
There are many reasons why companies are making this change, some are moving because they need to gain speed and agility, others are moving because they want to save cost, others are moving because they want a global reach, etc. In short, digitizing your organization can give you a competitive advantage by doing things better, faster, and cheaper than your competition.
By changing processes from analogue to digital, many organizations are no longer limited to geographical boundaries. If you want to have a global reach, however, it is important to do it right the first time; therefore, we recommend that you properly understand what you want to achieve, and then plan and manage your digitization programs properly.
Digitization helps your business grow at a fraction of the cost. A proper digitization plan can help reinvent processes, improve quality and promote consistency.
So then we can say that if an organization adopts today’s digital technologies, it will enable decision-makers to have access to all the information they need all the time, from anywhere, and from any device they choose.
The question is: With all these advantages, why are we not seeing all organizations moving to a fully digital environment? The answer is as ironic as it sounds. The challenge with any organization today is that they either lack understanding of their business to identify technologies that will create a competitive advantage, or they lack the management/leadership communication skills to present to the decision-makers in ways they will understand.
This failure is critical because without understanding the benefits in terms of efficiencies and cost savings, business owners will see the IT implementations as cost and therefore will want to “cut costs”.
If you are a decision-maker in an organization, it is important that you understand that digitization offers an opportunity to integrate business records in digital form accessible by anyone who needs it.
Many businesses still work partly on paperwork, which not only is expensive but also makes your organization lose very valuable information that you could digitize and minimize to obtain trends that could translate into knowledgeable decisions.
When all your information is in digital form, your ability to secure your organization’s knowledge drastically increases because you can manage access and level or rights and security for each user, no matter where in the world they are, and you can change it as needed. Most digital storage technologies of today also have audit trails which give them the ability to see who did what to each file, and giving them access to older versions if needed; thus, preserving their organization’s valuable information.
Adopting today’s technologies is no longer optional, the businesses with the best technologies will win because they will have agility and cost efficiencies that others cannot have. If you are a CEO, it is important that you have the right people in place to enable your organization to go digital.
It is important that you understand the new trend because businesses who will not change will be replaced, or will see their organizations disappear.
The time for digitization is now…