Business Digitalization Implications

The benefits of business digitalization include improved efficiency, better data analytics, improved customer service and engagement and the capability to automatize processes. Business digitalization also allows businesses to explore new strategies and concepts in a a low-cost environment.

Not so long ago the majority of business records were written in ledgers, or handwritten into paper documents. in the event that you wanted to share that data with colleagues you had to do it by physically delivering the document to another person or faxing it. When computers became mainstream companies began converting their paper-based ink records into digital computer files. This process is known as digitization, and it’s the basis of many modern business practices and tools.

Improve Efficiency

Digitization allows people to work more quickly and efficiently which allows them to finish projects and meet deadlines on time. Digitalization can also help companies save money by automatizing certain processes and allowing employees to focus on more important tasks.

Improve Customer Service and Engagement

Digitalization has enabled companies to gather data on their customers’ interactions with their products and services. These data can be used to enhance the customer experience, and increase the loyalty of customers and increase revenue. In addition, digitalization has enabled companies to offer customized products and experiences for each customer.

It’s important to note the difference between digitization and digitalization, as the former refers to converting data to digital form and the latter refers to the use of this information to drive transformation in business processes and models.

www.cloudycrowd.net/2020/07/30/business-digitalization-by-board-room/