A lot of people do not know about digitalization, however it has significant implications for all types of businesses. Understanding how to make most of technology will give your business an edge in the market and allow you to expand. This article will explore what digitalization is and how it can benefit your company as well as the challenges you may face as you begin your journey to digitalization.
Digitalisation is the application of digital technology to change the business model of a company and to create new revenue-producing and value-generating opportunities. The concept can be applied to a wide range of applications, from improving internal communication and processes to creating a more efficient supply chain or opening new sales channels.
Interviewees in various interviews pointed out that digitisation has changed consumer behaviour. They are more discerning in terms of the quality of the products they purchase, and are no longer content with the only offers offered by their direct competitors. Instead, they compare their products to those of other providers or industries as well (A6, A8, M1).
To tackle these challenges, companies must alter their business model in order to be agile and responsive to changing market conditions. Additionally, they must to be able to provide their customers with products and services that are tailored to their particular needs. This requires a high-level of customer service, and collaboration within the company. Digitalisation allows companies to form groups that collaborate, share their knowledge and come up with innovative business models.
A lot of people do not know about digitalization, however it has significant implications for all types of businesses. Understanding how to make most of technology will give your business an edge in the market and allow you to expand. This article will explore what digitalization is and how it can benefit your company as well as the challenges you may face as you begin your journey to digitalization.
Digitalisation is the application of digital technology to change the business model of a company and to create new revenue-producing and value-generating opportunities. The concept can be applied to a wide range of applications, from improving internal communication and processes to creating a more efficient supply chain or opening new sales channels.
Interviewees in various interviews pointed out that digitisation has changed consumer behaviour. They are more discerning in terms of the quality of the products they purchase, and are no longer content with the only offers offered by their direct competitors. Instead, they compare their products to those of other providers or industries as well (A6, A8, M1).
To tackle these challenges, companies must alter their business model in order to be agile and responsive to changing market conditions. Additionally, they must to be able to provide their customers with products and services that are tailored to their particular needs. This requires a high-level of customer service, and collaboration within the company. Digitalisation allows companies to form groups that collaborate, share their knowledge and come up with innovative business models.
