Business Development
Digitization of the Business World
The business world of the 21st century faces a cut-throat competition. In order to have an edge over others, it becomes a prerequisite to make a radical change in terms of digitization. Customers do not want repetitive proposals or sweet-talk salesmen. They look for time critical turn-key solutions or swift solutions. Digitization converts data at machine level analog to user-friendly readable digital format. The key benefits of digitization are that it reduces the overhead charges by nearly 80% and improves greatly the response turnaround times. In travel business, for example, digitization helps develop mobile applications that provide travel-friendly navigation information such as the shortest route. To a wild-life photographer, an app can help provide information about a species by scanning the pictures taken on a mobile phone. Organizations with expertise in digital marketing have the power to change and manipulate business trends. Through digitization,organizations can be alert on changing values of business.
They can customize products, and also the responses with customers on a personal level.Organizations will be able to streamline processes and automate them so that the employees focus on those that are the most important ones in business. Digitization is thus the lifeline of any organization to make its presence felt in the society and raise the awareness and goodwill in the business environment. The enormous potential of the cutting-edge technologies that go with connectivity and personalization, therefore, unravels new prospects for businesses, releases new markets and certainly brings revenue.
Source: vardhamaninfotech.com
References
- Rydning, D. R. J. G. J. (2018). The digitization of the world from edge to core. Framingham: International Data Corporation.
- Thalmann, S., Fessl, A., & Pammer-Schindler, V. (2020). How large manufacturing firms understand the impact of digitization: ALearning Perspective.