7 Reasons to Grow your Business using Digitization

If you are a business owner, you can relate to why Digital Transformation is important for business growth.

Think it yourself, can any organization sustain itself in the competition if they don’t have any digital presence?

Probably No, the reason why it is a necessity today is that the customers have now become smarter. They want to search for products and avail services online and faster which can save their time & effort.

In this article, we provide you with 7 reasons why Digitization contributes to the growth of your business.

What is Digitization?

Let’s understand the concept of Digitization.

Digitization can be defined as a process of transforming information in the physical model into a digital model.

For Example- PDFs, e-signatures, and scanners.

Digitization vs Digitalization

You might be confused between the two because both have the same tone. However, there are some basic differences between the two.

It is to be noted that both play an equal role in the digital transformation process.

Digitization is a process of transforming information whereas Digitalization is defined as transforming business processes.

For example- Self depositing ATMs, Chatting, messaging, video calls, etc are some of the areas of digitalization.

Reasons to Implement Digitization:

1. Easy Accessibility to Information: Access to digital information anywhere, anytime without the barriers of location and data transportation is a key reason to implement digitization.
2. Improves Customer Experience: If employees have the access to the relevant digital information that is needed to serve the customers smartly. It can help in achieving a loyal customer base by improving strategies for customer services.

3. Increases Productivity: Having access to the right information at the right time without putting unnecessary effort boosts the employee’s productivity as they will be able to complete the work efficiently.

4. Reduces Operational Costs: Storing information in the digital format eliminates the need for papers and storage devices which helps in cutting operational costs to some extent.

5. Enhance Security: Storing the information in digital format enhances the security of the data. Important information like customers’ personal information, company’s financial reports, policies, etc.

6. Sustainable: Businesses who implement digitization also contributed to the well-being of the planet by cutting the need for paper.

7. Disaster Recovery: The key reason why businesses should adopt digitization is that storing the data in a digital format can safeguard the information from calamities like floods, and earthquakes. Not to forget, making a disaster recovery plan & policies are a must while implementing digital transformation.

Summary

Digitization is a process of transforming physical analog into a digital format. It plays a crucial role for organizations to achieve growth, profitability, and customer satisfaction.

Digitization is the first step in the journey of Digital Transformation followed by Digitalization.