Digitalization and It’s Benefits – A Corporate Perspective
Businesses are shifting their mode of operations from traditional forms to online commerce, with all that entails, the focus is being shifted to digital strategy. It is spearheading the transformation of unorganised sector, with the passing of each day, more and more services are linked due to digitalization. It not just makes human life easier and efficient by saving time, effort and money but has also impacted almost all the aspects of human life in a positive way.
The modern society and businesses when subjected to the traditional 20-year-old processes would result in a huge downfall. Therefore, the only solution for efficient inter-departmental transactions is to embrace the digital nature of the modern world by making it a fundamental part of modern businesses.
It is becoming a necessity for organizations to reach out to relevant audience by ramping up the decision making ability, to avoid lagging behind the competitors. We have new technological means at our disposal that provides us better means to improve the customer experience.
Digitalisation is the answer to many supply chain pain points due to its ability to cut costs and time across the processes.
- Companies have got a digital presence through the internet in the form of online stores, social networks, blogs and corporate pages. It increases the visibility and adds to the sales channel of the company.
- It has become easier for the customers to reach out and contact the company by using mediums such as social media. And on the other hand, it has also benefitted the company as they can get easily the review and opinion from customers.
- Innovations can result from digitalization, as it allows the businesses to become more aware of new trends and test them through simulation.
- Working conditions of the organization are uplifted, with new reforms such as flexible working hours and teleworking coming up. It thus opens up new communication channels and improves internal communication of businesses by breaking up cross-departmental silos.
- The eco-friendly quotient of the organization receives a thrust with the digitalization of document and reduction of unnecessary printing, which sums up to low information maintenance cost.
- Measures such as encryption and backups have given added security and instant access to real-time information online or offline.
Digitalization of the supply chain too is less of a farfetched future and more of a necessity for companies to maintain their competitiveness. The days of silo-based operations are long gone.
- Lead times and wait times have decreased to a large extent by digital supply chains, leading to faster and easier orders execution.
- Approaches like Just-in-time (JIT) have becomes more effective as well as accessible to all.
The digitalization of business is not always a simple process, but it can disrupt conventional models and bring great benefits if implemented.