Digitalisation of businesses is not a new concept, in fact the entire western and eastern world have miles ahead of most African countries with billions of profits already in their pockets and we are really missing out on the piece of cake.
In this article, I’ll answer some lingering questions surrounding the topic and give some pointers to keep in mind for the successful digitalisation of your business.
What is digitalisation?
Digitalisation is the process of changing existing business models in the light of new technology. Its purpose is value creation •using technology to generate new ways of thinking
•The outcome of digitalisation is higher process efficiency, lower transaction costs and better control. Businesses can use digitalisation to expand into new markets, offer new products, and appeal to new customers. It’s about pursuing different kinds of opportunities, all made possible by new technology.
In order to stay relevant, it’s no secret that businesses must constantly adapt. Digitalisation enables the delivery of a digital experience to the digital savvy consumer.
A prime example of digitalisation is Amazon and Apple’s move into healthcare. The entry of these tech giants into the sector would not be possible without digital technology – in particular the tracking and analysis of customer data. From the use of wearables to monitor biometrics, to an increasing reliance upon AI to diagnose disease, technology has opened up new business models in the healthcare industry. If businesses can use tech to deliver better service, greater value and an improved customer experience, then they stand to benefit from digitalisation strategies in the future.
Why should I digitalise my business?
The main reason to digitalise your business is because digitalisation is not a trend, but the way the whole world is heading.
The purpose of digitalisation 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 digitalisation 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.
If you have a business, multiple digitalization options may have already occurred to you. And even if you know that a digital transformation is necessary to increase productivity and to avoid lagging behind the competitors, you’re still likely to have doubts about its depth.
Maybe we can help you see some positive sides. Do you want to know some of the advantages that digitalization can offer you? Let’s see some of them.
– Digital presence
This is probably the most visible advantage. The presence on the Internet, through tools such as online stores, social networks, blogs, corporate pages, etc., multiplies the visibility of the company and sales channels.
For some companies, this presence is the focus of their digital strategy, and they have even shifted their business from traditional forms to online commerce, with all that that entails.
– New contact channels with customers
Equally, the digital presence not only opens up sales channels, but also new ways of communicating with customers. Email, apps, social networks… nowadays, the clients of any business with a digital presence have multiple ways to contact the company.
This is another way to increase sales, loyalty and customer loyalty, but it also entails new responsibilities. And that is why providing service to all these new channels of communication requires doing things well….
– The customer at the heart of the Universe
For some people it will be more of an inconvenience than an advantage, but it is not!
The digital transformation involves placing the customer at the centre of the business, and while this involves work and responsibility, it also offers significant advantages.
One of them is to find out their opinions. Contacts such as those established in social networks or opinion polls and websites, facilitate the always important task of finding out what users think about our products or services.
The other one is the constant need for improvement. The proximity to the customer implies this responsibility. At the same time, every day we have new technological means at our fingertips that offer us new options to improve the customer experience. It is true that sometimes it will cost effort and an economic investment, but by acting wisely the result will be the progress of our service and our company.
– Better decision-making
Digitization goes hand in hand with data management, data is knowledge, and knowledge leads to better decisions.
The digitalization of business makes it possible, as we have seen in the previous paragraphs, to have continuous contact with the customer, and this allows us to get to know him/her better. But that is not the whole point. Some companies go further and apply Big Data when making all kinds of decisions that affect almost the entire business (marketing, production process, etc.).
– It improves efficiency and productivity
This is probably the thing that concerns you the most. Think about this. You have more information, which allows you to make better decisions, and technological tools to make your work easier.
When used intelligently, the digitalization of business can lead to a significant increase in productivity and can reduce some costs. Technology has helped companies to improve in these areas throughout the years. Digitalization can also do this.
– It encourages innovation
The digital transformation forces us to act. And once the movement begins, the inertia will make it harder to stop.
The digitalization of business usually leads to a dynamic of innovation that allows it to be more aware of new trends and the possibilities offered by new technologies. In addition, it can also help foster innovation among the team members (if they are allowed to use it). Innovation will not only depend on digitalization, but it will also help to achieve this…
– It makes communication and teamwork easier
Both through the alignment of goals and the opening of new communication channels, the digitalization of business improves internal communication. We can observe this both through the teamwork (e.g. inter-departmental) that will be needed to implement measures of digital transformation, and through such basic choices as implementing an internal chat. Remember that this is the reason why they call today’s Age of Communication…
– It improves working conditions
The possibilities that digitalization offers in a company cover many areas, and one of them is the improvement of working conditions. New employment options, such as flexible working hours or teleworking, need the support of digitalization in order to be able to carry them out. Without this, it would be much more difficult, or even impossible.
And improving working conditions offers multiple benefits, not only for employees, but also for the company. It helps decrease job turnover and increase talent retention. The new generations of workers (the so-called millennials) demand digitalization in their jobs. If these are not offered, then these will probably be much less interesting…
The digitalization of business is not always a simple process, but it can bring great benefits. In addition, the market forces this and the company which fails to do so will probably have problems in maintaining its competitiveness.
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