A lot of people don’t comprehend digitalization, but it is a major issue for any type of business. Understanding how to make the most of modern technology will give your company an edge in the market and help you grow. In this article, we’ll discuss what digitalization is and how it can benefit your business, as well as some of the obstacles you may encounter on your journey to digitalization.
Digitalisation is the process of making use of digital technology to change a firm’s business model and create new revenue and value-producing opportunities. Digitalisation can be used in a broad array of applications, ranging from improving processes and internal communication to establishing a more efficient supply chain, or opening up new sales channels.
Several interviewees pointed out that digitalization has changed the consumer behaviour. They are more demanding in regards to the quality of the products they purchase, and are no longer content with just the offers of their direct competitors. They also examine their products against those of different industries or providers as well (A6, A8, M1).
To face these challenges, companies must to change their business models to be able to adapt quickly and effectively to changing market conditions. They should also be able to provide products and services tailored to the needs of their clients. This requires a high level of customer service, as well as collaboration within the company. Digitalisation allows companies to form groups that collaborate, share their knowledge and create innovative business models.
