Business Digitization: How to Succeed

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Business digitization and the question of whether you should do it for your business or not is no longer up for debate—you should and need to. Digitization is, by definition, the translation of the physical and tangible world into the virtual one so that the power and benefits of computer and software can be used to drive your company forward to the next level. Modern digital solutions for companies can provide valuable and actionable insights through data which can aid commercial decisions and improve business outcomes.

When you begin to look at all the requirements and steps involved in digitizing your business, it is easy to see why people become overwhelmed by the various pressures and obligations involved. After all, for those who have operated their companies offline exclusively, the digital world is new, mysterious and uncharted territory which can be confusing to figure out.

The bottom line today, however, is simple—being online is no longer a matter of preference or choice. In order to remain competitive and afloat in the modern commercial world, you need to be online, it is not an option, and you need to adapt as the world relies on digital technologies and solutions more and more with each passing day.

Why Should I Digitize My Business?

The world is increasingly moving more and more things towards the digital world at an alarming and unprecedented rate. Companies which today have comprehensive digital networks and reaches can grow themselves, their revenues and profits at as much as three times faster than other companies who operate offline.

It is profit, however, which is the main reason for moving your business to the digital world. There are other benefits all across the board though, and companies which don’t digitise now, even at a basic level, will most likely not be able to survive the next five-to-ten years. It’s harsh, but completely true.

Business Digitization: How to Do It

Business digitization is not as difficult as it sounds. Sure, there is a lot you will need to adapt and overcome, however, once you have done that your company will perform better than it ever has done before. There’s nothing to lose by bringing your company into the 21st century and being in-line with today’s accepted standards and practices. Here’s how –

1. Lead the effort

If you are not personally committed to digitizing your business, then how can you expect your staff and other managers to be? Your employees will be looking towards you for guidance, especially if they are also apprehensive about the move, so you need to lead the way and act as a benchmark for them to look up to and learn from.

2. Carefully think about how you will be operating

Think as if you were a brand-new start-up company. Today, how would you start the same company? How would you beat other operators in the market? If you can understand how a digital model of your business looks then you can use this information to make the most informed decisions, talk to experts and plan your move.

3. Add to your workforce

Your employees are your company’s biggest asset by far. By adding newer, younger and more technologically-adept professionals to your team, you make the move a whole lot painless and prepare yourself for the challenges ahead. Don’t neglect your old staff, though; look into training courses which can get them up-to-speed with the realities of working as part of a digitized firm so that they know what to expect.

4. Embrace new technological solutions

There are many companies, services and software solutions out there which help to run your company’s day-to-day tasks, harvest data, manage customer relationships and grow your company. If you do not embrace these technologies then you will find that you are unable to remain competitive in your newfound digital space, and if you cannot remain competitive then you are not going to last very long. In the digital space, competition is rife and by embracing new technologies you can stay ahead of the curve.

 

It’s 2018… you can no longer escape business digitization. If you fail to embrace it now and move forward with the rest of the world, you will not be able to survive the next five-to-ten years… that’s the harsh truth.

Javi Fondevila

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