The digital revolution actually began 60 years ago with the application of the first computers and has since changed several forms. Since then, the processing of increasing amounts of data and the application of information technologies have gradually spread through almost all processes and all industries with the aim of automation and greater efficiency. The most deserving of this evolution was the constant technological development.
Digital transformation is described as the use of technologies to advance business processes and company results. Information about the expediency itself is also relevant and the ultimate goals of digital transformation. The ultimate goal is that by using digital technologies, the company can optimize and improve its business, it is enabled to introduce innovations and creativity and encourages significant changes in the professional world, but also in the private world of everyone individual. Digital technologies, while disruptive in nature, also provide businesses with an opportunity for progress, for expanding their market share. Digital transformation as such represents an opportunity for a company to improve its business.
Digital technologies have enabled a large number of advances in business processes. Digitalization most often results in a combination of physical and digital content, such as customer services with multiple contact points, where' a company has a physical location where' customers can come, telephone customer service, but also allow customers to get in touch via email, online form or, as the most modern way of establishing communication, Facebook conversations, Twitter responses, or similar channels emerged, as a result, social networks.
Digitization affects and can improve your business in many ways.
Contents
1. Digitization as a necessary tool for business survival
Digitization has been a way for companies to achieve additional competitiveness, by shortening certain processes and increasing efficiency, and over time it has become for the normal functioning of companies and business processes, while in the future it will depend on their very survival.
2. But also its advancement
This in particular proved to be a smart move during the coronavirus pandemic that is still ongoing. We are aware that modern technology has advanced, and continues to evolve day by day, and that more than 70% of the world’s population uses the Internet and social networks, which have become a very powerful source of advertising. Digitization has provided customers with easy access and all the necessary information in one place.
3. Transforming products and services
Digitization can provide insight into opportunities for new revenue streams and improvements to current products or services based on direct customer feedback, which can ensure business longevity as it allows customer changes to be met.
4. Impact on jobs
The implementation of the digital transformation will inevitably affect jobs. There are divergent views on the impact of transformation on jobs. On the one hand, digital transformation can lead to the creation of new jobs and open the possibility of hiring professional staff who would contribute to the development of digital business models. But on the other hand, there is an opinion that digital transformation in itself reduces the need for employment and that the introduction of digital technology actually reduces the need for workers.
5. Easy document storage
If a business involves a lot of physical storage of documents, such a process implies the necessary large space in material terms, reduced security from damage such as fires and floods, and difficult search of important extracted data. Although this is not the whole picture of the negative aspects, we can immediately see that digitalization would improve, accelerate, but also provide greater business security. For entrepreneurs, digitalization also means financial savings and better control over financial resources. Saving time, an easier overview of financial and commodity situation, reduction of depreciation costs as a by-product of digitalization of certain workflows… All these items are created by the digitalization of business.
6. Better income in business
Digitalization is also reflected in better business, ie business income. Digitization itself is consequentially achieved greater efficiency of business processes. The power of digital is reshaping five key strategic areas that are today the framework of digital transformation for every company – customers, competitiveness, data, innovation, and value.
The study also gave concrete recommendations for accelerating digitalization and economic growth. These include reducing the number and amount of parafiscal charges in operators’ operations, speeding up procedures for obtaining building permits and easier use of public land for infrastructure, encouraging investment in infrastructure in rural areas, integrating digital skills into curricula and educational programs, providing support for increasing digital readiness of small and medium enterprises, encouraging digital start-up companies, and tax relief and improving the business climate.
Experts say that the process of digitalization, which according to many experts is a prerequisite for economic growth in modern times, is changing everything, that it is a great opportunity for the countries of the region, and that it leads to historical changes in the business world.
Why invest in business digitization?
The purpose of digitization is to enable automation, increase data quality, and collect and structure all that data so that we can apply advanced technology, such as better and smarter software. The outcomes of digitization are higher process efficiency, lower costs, and better control of operations, both for an individual company and in the case of a network of related companies. Investing in the digitalization of business is an investment in survival and competitiveness in the market and is no longer a trend but a necessity. An entrepreneur is competitive when he is well informed, and an enterprise when he is fast and efficient in the flow of information among the participants, and that is exactly what you get when you decide to take this step.
Final thoughts
Each company is a story unto itself, and rarely which companies are similar to the extent that any would be the process, and thus the process of introducing digitization carried out in the same or similar way. What is important is that in cooperation with the expert team you make a decision that will present your company in the best light and improve the business.