https://cloudycrowd.net/2019/12/06/digitalization-of-a-business-and-its-consequences/

Business digitalization implications include increased efficiency, better data analytics, enhanced customer service and engagement and the ability to automatize processes. Digitalization in business also allows companies to explore innovative strategies and new ideas in a a low-cost environment.

Not that long ago the majority of business data was written in ledgers, or handwritten into paper documents. should you want to share your data with colleagues you had to do it by physically delivering the document to someone else or sending it by fax. When computers became more common numerous companies began to convert their paper ink records into digital computer files. This process, also known as digitization is the foundation for many modern business practices and tools.

Increasing Efficiency

Digitalization can help people work more efficiently and faster so that they can complete projects and meet deadlines on time. Digitalization can also help businesses cut expenses by automatizing certain processes and allowing employees to focus on other important tasks.

Enhancing Customer Service and Engagement

Information on interactions of customers with services and products can be collected by companies using digitalization. These data can be used to improve the customer experience, increase revenue and boost loyalty. Additionally, digitalization allows companies to offer customized services and experiences to each customer.

It is essential to know the difference between digitization and digitalization. Digitalization is the conversion of data into digital form. The latter refers to the use and transformation of this data in business models and processes.