Business activity: digitization in businesses.
Introduction
Good day everyone and welcome to another day on my blog, trust we all had an exciting weekend and rested quite well for the week to come.
Today I would be talking about digitization and how it pertains to businesses.
This is the process of converting something into a digital form it could be anything from data, money or even certificates.
In the world we live in today through the advancement of technology we are seeing an increasing number of consumers favouring the digitization of services over analogue.
With today's technology the process of digitization has become very handy and can be easily done through the use of computers and smart phones.
Unlike in previous times they were no phones and the internet wasn't accessible to all, digitization could not have prospered in such times as when information got digital it became increasingly hard to access them.
Digitization in business
In today's business environment it is essential to implement some form of digitization in your business.
As this would give your business an edge over those who do not practice it, you could digitize your Business in any of the following ways below .
Data storage
With digitisation we no longer need to store large boxes of information in our basements or office spaces, this information could be stored on data banks, or through cloud storage.
This particular form of digitization is very useful as it not only safes office space but it also allows for documents to be easily retrieved with just a push of a button rather than scrolling through boxes and boxes of files.
Customer service
Customer review is an important aspect of every business as it tells us how the customers are receiving our goods.
For any business to proser they must have a good means whereby individuals can reach them anytime any day, by using various digital platforms such as online robots, web services and other it ensures that customers do not need to go through the stress of travelling every single time they want to lay a complaint.
Process of doing business
This is another aspect in business which can be digitized, it only depends on the type of business , for a buying and selling business the process of digitizing this becomes all too easy we take big online companies like Amazon, Ali Baba and the rest, this are companies which have digitized thier sales services and we can see how it has made them profitable.
Key note
Digitization in business is best applicable to aspects which involves rendering of service as this can be easily done through the internet, aspects of businesses which involve physical contact would be tricky to digitize.
Merits of digitalization
Making the choice between going digital and staying analogue would often proof difficult, so in order to simply that choice let's look at some of the merits of digitization
convienece
Digitization makes doing business very convienece this is so as they could be accessed anywhere any time irrespective of the location of the business.
By having a website for example one doesn't need to visit the physical location of the business in order to communicate his needs to the sellers or the business owners.
Safety
Storing of Information digitally is quite handy as this method of storage is resistant to popular means of information loss such as loss through fire, flooding , wear and tear, animal attack and various others.
When an information is online you could be rest assured that it would be there till infinity that is if you do not delete it.
Storing information normally in books always have a useful life based on the quality of the material the book is made of.
Increase in customers
Through digitization one doesn't restricts one self to one location but rather you get the opportunity to access an endless stream of customers digitally you could be in Nigeria doing Business with someone in America.
Demerits of digitalization
For everything that has an advantage they must always be a disadvantage to it.
Expensive
They are alot of expenses which will be incured in the process of going digital for example purchase of online data storage such as cloud storage is often very high as compared to the price of normal physical storage this in essence put businesses which use is it out at a disadvantage from their counterparts using physical method of storing data.
Another illustration on how expensive digitalization is is in the process of the creation of websites and web application this often come with huge amount of expenses.
Technical knowledge
The process of digitalization is quite different from normal business is involves the business owner to acquire new knowledge such as the use of web services or web applications which are often difficult for people to come comprehend.
A lot of the process of digitalization is also very confusing and strange this could put businesses as a disadvantage such as issues of lost passwords or where by an accountant in a bid to use a digital software miss places a figure which would cost the business books not to balance.
Hacking.
The main disadvantage of going digital in today's environment is the fact that information in the digital world are prone to hackers who have the ability to illegally obtainedinfomation by which are stored online we find situations where by celebrities have the images leaked images which were stored on their private data storage.
In the 2020 us election incriminating emails were keacked from Hillary Clintons email. This just those to say that anyone could be victims of this attack irrespective of your status.
Keys notes on digitalization
Digitalization can be the golden spoon to any business it can also be the last straw that breaks the camel's back this is because there are many forces in place in the digital world, some of this forces we've discussed such as hacking and security.
Digitalization brings a level of convenience which is able to attract customers from far and beyond it just depends on the business to chooses to use it.
It is my personal belief that digitization is the key to prosperity of any business take businesses such as Amazon Facebook keystone bank we can see how prosperous they all are. We notice that they all have an element of digitization.
If the banking system had not gone digital they wouldn't have been able to survive in today's economy imagine banks without digital softwares, without mobile applications, without being able to do transfer online, without banks adapting this digital features they won't have been able to survive.
Conclusion
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Businesses must go digital it is only a matter of time whether you will be caught in the digitization process or be left away entirely depends on your mind set and your adoption of the process of digitalization in your business.
Thank you for reading
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Each business under its own capabilities little by little will be adopting the digital medium in the same way those that remain outside of it, also have possibilities in the future.
Each advance also propitiates changes that arise in actions that must be kept in mind and that must be faced or made clear.
Good information post.
Greetings.