The benefits of business digitalization include improved efficiency, improved data analytics, increased customer service and engagement and the capability to automatize processes. Furthermore, business digitalization allows businesses to conduct low-cost experiments using innovative strategies and concepts in a safe, secure environment.
Not too long ago, most business information was handwritten in ledgers or typed into paper documents – and if you wanted to share that data with colleagues you had to do it by physically sending the document to someone else or sending it by fax. As computers became more prevalent numerous companies began to convert their ink-on paper documents into digital computer files. This process, commonly referred to as digitization is the foundation for many of today’s business practices and tools.
Increasing Efficiency
Digitalization allows people to perform their work more efficiently and speedily which allows them to complete projects and meet deadlines. Additionally, digitalization could help businesses reduce expenses by automatizing certain processes and allowing employees to focus on other important tasks.
Improving Customer Service and Engagement
Digitalization has enabled companies to collect data on their customers’ interactions with their products and services. This information can be used to improve the customer experience and increase the loyalty of customers and increase revenue. Digitalization also allows companies to provide personalised products and services to every customer.
It’s important to note the difference between digitalization and digitization, since the former is the conversion of data into digital form and https://cloudycrowd.net/2020/04/01/digital-transformation-of-the-market-the-data-room-is-the-technology-1/ the latter refers to the use of that data to drive transformation within business processes and models.
