According to Business Dictionary, digitization is the conversion of analog information to digital form with suitable electronic devices so that information can be processed, stored, and transmitted through digital circuits, equipment, and networks. Digitalization is the use of digital technologies to change a business model and provide new revenue and value-producing opportunities; it is the process of moving to a digital business.
What Is the Digitization of Business?
Digitalization is a profound transformation of business, involving the use of digital technologies to optimize business processes, improve the company’s productivity and improve the experience with customers. One of the primary digitization steps is the satisfaction of consumer needs, which change along with the development of technologies, namely, the creation of a more comfortable and prompter interaction between the client and the company. However, proceeding from the question of what is digitalization of business, it is possible to say that this process may also have the following purposes:
- Improvement of the product (or service): its quality, attractiveness, ease of use, delivery;
- Automation of production and other internal processes of the company;
- Simplification of internal and external communications.
Why should you digitalize your business?
The purpose of digitalization is to enable automation, increase data quality, and collect and structure all that data so we can apply advanced technology, such as better and smarter software. The outcome of digitalization is higher process efficiency, lower transaction costs and better control of business operations, both for the individual company and for the network of connected businesses.
How do you digitalize your business?
Thanks to technological advancement information is in abundance on ways to improve our business. Lack of understanding of technology may cause more harm than good. Most of the ideas being showcased do not actually exist and it has caused resistant in adaptation for companies to participate in the fourth revolution. There is a great need for educating and informing the decision makers on how to use this technology to our advantage. The best way for a business to digitalize its operations is through acquiring adequate knowledge to be able to develop effective business strategies. Some of the models do not come cheap, it could be a failure and a negative ROI.
RegDigPilot Program is a pilot project we are offering any company/institution that wish to Digitalize or tap into Artificial Intelligence Technology. The Fourth Industrial Revolution (4IR) has been accelerated by Covid-19 pandemic and we can all see changes general operations. As much as institutions have adjusted, there is still confusion with the way forward. We are offering a Change Management Solution, that will help to strategize on adaptation of this new technology.
For information on RegDigPilot Program Click