Innovation is the cornerstone of sustained economic growth and prosperity. Everything from customer-supplier management systems to blockchain-based solutions is being adopted at a wide scale. In a day to day basis, almost everybody digitizes something, from encoding handwritten notes into Microsoft Word, or scanning hard copies of documents into a PDF format. While online retailers were initially dismissed as a niche option for computer nerds, e-commerce sales continue to rise dramatically. To learn more about the laws for document retention in the EU, read the report “European Document Retention Guide”. Copyright 2020 @ Abraxa Group. the study “ICT, Innovation and Productivity Growth“, made for the Danish Business Authority, which has shown that productivity grows on average 2,4 percentage points faster in companies who focus on digitalization. Helps in achieving mission and vision. As more companies adopt smart digital solutions, you need to do the same to be able to work with them. Digital transformation is changing the way you conduct your business. You also have the option to opt-out of these cookies. Not only is scaling your business easier in this case, but it’s also better in terms of quality. When that’s the case, scaling isn’t only expensive, but also difficult, as you need to find people with the right skills. Digital technologies are revolutionizing many industries, including the maritime sector. Transparency is a central concept in digitalization because companies gain more control over, and insight into processes and data as well as the tools to analyze these. When you’re developing a long-term strategy for your business, you need to be sure that you have solid facts to work with. Digital transformation is an essential step for improving and creating new operating models. The Yara Birkeland – the world’s first fully autonomous cargo ship- will make its first trip in 2020. The digital movement has great advantages and companies who understand how to exploit it to their advantage can achieve significant savings, increased productivity and better insight into their data. Digitalization allows you to improve your workflow and make your team work together more efficiently. Increases interaction with customers. The more you digitalize, the fewer variables you have and the lower risk you assume. The more digital technology becomes available, the more that business digitalization becomes the norm. Digital business, as it relates to business technology, offers companies and individuals new ways to connect, collaborate, conduct business, and build bridges between people. If you’re a business owner who hasn’t digitalized their business processes yet, you are missing out. âToday, all retailers are under severe pressure. Digitalization has long become an intimate part of our daily routines outside the workplace. Asides from taking unnecessary time to complete, these tasks also make collaboration more difficult. Online businesses have provided the customers with service which has made the customers satisfied with the deals they are getting into. It will also allow your existing agents to get more done in less time. The savings you will make depend on how labor-intensive your business is. Digitalization is unavoidable in this quest. But there are even more good reasons to choose to embrace the digital movement. Business digitalization: How much do companies spend? The digitalization is also connected to the automation of internal processes of the company, the goal is to become more efficient, lower expenses and increase the sales. Everyone wants to rush off to buy only Smartphones now, which provides them access to end number of website, applications. Digital Transformation in â¦ That’s why combining a skilled human staff with digitalized business processes allows you to reduce human-caused errors to a minimum and help your business perform better. No matter how much training you provide for your staff, this is something that you can’t avoid. “Increased digitization can make companies more productive and enhance competitiveness” says Danish Minister for Growth and Business Troels Lund Poulsen in a press release (in Danish) and points to the Danish study “Report on Growth and Competitiveness” that shows that higher productivity, more cost efficient processes and fewer errors in production are among the advantages of digitization. What was science-fiction technology a decade ago is now outdated. These cookies will be stored in your browser only with your consent. It is the promotion of products or brands via one or more forms of electronic media. When you digitalize and automate as many tasks as possible, your monthly operational costs will drop. Many companies have already learned this the hard way. The ways to boost your brand via social media are by tweeting, blogging, posting recent wins, press releases, new products or services, job openings and key promotions and hires. The insights that you get about your business opens the door for different types of improvements. When you digitize your business processes though, scaling works differently. Hail the era of indirect sales. With a solution like Abraxa, full digitalization is no longer a difficult thing to achieve. Our solutions scale with your business, so you can focus less on the technical issues, and more on growing your business. The Importance of Digitalization. However, there is still room for improvement – business models need to be challenges and traditional ways of doing things must be revised in order to keep up to date. 6 Reasons why digitalization is a must for any business. Since most of the work you do is digitalized, you can easily scale your business to accommodate more clients. Happens in all companies nowadays, even though some may not realize.. Work you do is digitalized, you need to be able to work with of... Relevant experience by remembering your preferences and repeat visits ve why digitalization is important for companies nowadays seen it before new. European document retention in the EU, read the report “ European document retention Guide ” may affect browsing. Else speaks overnight, they certainly are already happening read more in the near future process..., the process of converting information into a digital ( computerized ) format, get. 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