The importance of business digitalisation

The digitisation of companies is a process that is currently booming, because unless you want to stay behind, you need to adapt to the new technological reality that already exists in the world. Digitisation really consists of transforming a business organisation by orienting the different facets of the business towards the digital environment, although there is much more behind this simple definition.

what characteristics should a company have after going through a digitalisation process?

• It must have a digital culture, and this culture must be fully embraced throughout the company and shared by all members of the organisation.
• Use the power of data to improve the business in the digital sphere. Without a doubt, Big Data technology and artificial intelligence tools are opening up a whole universe of possibilities for the digital company.
• Improving all processes through new technologies , aswell asreinforcing the business model with new forms of monetisation and other digital-based strategies.
• Consistency and efficiency in the relationship with users and customers, within a useful omnichannel strategy.
• Take advantage of opportunities such as the recent Kit digital. This initiative is a financial aid programme of the Spanish government that aims to boost the digitalisation of companies.It is mainly oriented towards the needs ofsmall companies, micro-enterprises and self-employed workers belonging to any sector or type of business.
• Customer orientation: Given that customers are increasingly moving around the digital environment, companies must reinforce their presence in this environment and know how to correctly orientate all their target customers or users.

what are the benefits of digitalisation for companies?

1. time reduction: All processes are speeded up with the presence of digitalisation, and robotisation and remote monitoring have also contributed to this improvement and time saving.
2. better use of human resources. With digitisation, all mechanical operations work is in the hands of increasingly intelligent machines and robots. This makes it possible to harness the company's talent and human resources to dedicate them to much more analytical tasks. This generates more value for the company, as staff will focus on thinking about how to provide greater profitability and business opportunities for the company.
3. improved efficiency: Big Data tools are capable of predicting customer demand, enabling a much more efficient allocation of resources that will help reduce production lead times.
4. cost reduction: Taking advantage of all digital means allows for a reduction in stock costs at a logistical level, for example.
5. greater flexibility: digitalisation is capable of reducing the number of visits by consumers to the physical shop and encouraging a greater commitment to e-commerce. In this way, consumers have greater flexibility to make their visits and purchases without the need to follow customer or public opening hours as in the past. In addition, the Covid-19 pandemic has contributed and is contributing significantly to the growth of e-commerce.
6. improved communications: e-mail, multi-conferencing or video-calling platforms, the beginning of virtual worlds or the metaverse, social networks such as Instagram, LinkedIn, Facebook, WhatsApp or Twitter... These are all examples of tools that mean greater immediacy both in terms of transmitting and responding .
7. digitalisation not only allows you to offer your product or service 24 hours a day, 365 days a year, but also brings you closer to your customers through more agile, direct and personalised communication.

what are the consequences of not digitising companies?

• One of the main consequences of not digitising businesses is the risk of non-use, loss or leakage of internal and customer data.
• Another consequence is that many businesses cannot manage the amount of information they have, so they run the risk of sensitive data being exposed or lost among so much paperwork. Not to mention that locating important information will take longer than necessary.
• These companies stagnate, leading to bypassing or ignoring improvements in the customer experience and failing to meet timelines, prospects or all customer expectations.
• Theylose ground to others and the opportunity to embrace new ways of organising against their competitors.
• Decision-making becomes less effective and virtual teamwork is not encouraged.

These are just five examples of the consequences of not digitising companies, but as you have seen above the benefits are many more and if you want to stay in the market you must digitise and take advantage of the opportunities it brings.