02 8 月 Business Digitalization Implications

Business digitalization implications include increased efficiency, better data analytics, increased customer service and engagement, and the capability to automatize processes. Digitalization in business also allows companies to experiment with new strategies and concepts in a an environment that is low-cost.

Not too long ago when business data was a majority written in ledgers, or handwritten into paper documents – and in the event that you wanted to share that information with colleagues the process was accomplished by physically delivering the document to another person or by faxing it. When computers became commonplace and widespread, many organizations began to convert their ink-on-paper records into digital computer files. This process, also known as digitization, is the base for many of today’s tools and practices in business.

Increasing Efficiency

Digitalization helps people perform their work more efficiently and speedily which allows them to complete projects and meet deadlines in a timely manner. Digitalization also helps businesses save money by automatizing certain processes and allow employees to concentrate on more important tasks.

Improving Customer Service and Engagement

Digitalization has enabled companies to collect information about their customers’ interactions with their products and services. This data can be used to improve the customer experience and boost loyalty and revenue. In addition, digitalization has enabled businesses to provide personalized products and experiences to each customer.

It is important to understand the distinction between digitalization and digitization, in that the former refers the conversion of data into digital form while the latter is the use of that information www.cloudycrowd.net/2020/07/30/business-digitalization-by-board-room/ to drive transformation in business processes and models.