Digitalization has a variety of implications for businesses, including improved efficiency, better data analytics, enhanced service and engagement with customers and the capability to automate processes. Business digitalization also enables businesses to explore new strategies and concepts in a an environment with low costs.

Not so long ago, most business information was written by hand in ledgers or copied into paper documents – and should you want to share that data with colleagues you had to do it by physically delivering the document to a different person or by faxing it. When computers became mainstream, most organizations began converting their paper-based records ink-on-paper to digital computer files. This process, also known as digitization is the foundation for a variety of tools and practices for business.

Improve Efficiency

Digitalization allows workers to work more efficiently and quickly which makes it easier for them to finish projects within the timeframes they need to. Additionally, digitalization can help businesses reduce costs by automating some processes and freeing employees to focus on other important tasks.

Improving Customer Service and Engagement

Digitalization has enabled companies to collect data on their customers’ interactions with products and services. This information can be used to improve the customer experience as well as increase loyalty and revenue. Digitalization also permits companies to offer customized products and services to every customer.

It is crucial to know the difference between digitalization and digitization in that the former refers changing data into digital format while the latter is the use of that information to drive change in business processes and models.

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