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In today’s work-from-home world, it feels like everyone is running a digital business. But the reality is that top business leaders have different definitions of what it means to go digital. As a result, priorities vary when it comes to technology adoption and transformation.
Generally speaking, digital businesses rely on technology to operate and grow. Depending on your industry, that might look like:
But just downloading a few apps doesn’t make you a digital business. True digital transformation is the slow process of shifting away from manual processes and toward a customer-centric, technology-focused business model.
Becoming a digital business impacts every part of your organization, from employee experience to customer service to back-end maintenance and management.
Digital Business Benefits
What is digital business and what are its benefits? To answer this question: there are numerous advantages of transforming a business into a digital business. It improves the effectiveness and efficiency of organizations. Apart from that, it also boosts productivity. Below given are some of the pros of digital business:
1. Enhances Productivity
Automating manual processes has a huge impact. For example, imagine you automate an assembly sector inside your industry. Now, there is zero to the minimum need for manual labour to work in that particular sector because everything will be done with the help of robots. Therefore, there will only be minimal mistakes. Apart from that, the process is also faster.
2. Lower Operational Costs
The main objectives of every business are to save time and money. Doing manual processes and tasks is extremely time-consuming and relatively slower than automated techniques. In addition, you also need to pay the labourer on a monthly or hourly basis, which would involve a lot of money.
It has been proven that inefficient processes can cost companies up to 25 % of their revenue. When the processes are done manually, there are higher chances of mistakes. In such cases, digitalizing the organization will be more efficient and less expensive.
An interesting fact about digitalization is that it can save up to 90 % of the companies’ operational costs.
3. High Quality and Consistency
A major advantage of having a digital business is that it can guarantee that all the operations are made consistently. It provides high-quality outputs.
For instance, automating a customer service sector will provide the consumers of that sector with high-quality information and support.
4. Governance and Reliability
The automated services are very consistent, enabling the user to rely on them. It will help in the following way:
5. Better Decision Making
Information management and digitization work very closely. When the information is analysed, it will help transform it into knowledge. Knowledge helps in making better decisions.
Examples of Digital Business
One example of a digital business is Amazon.com. Amazon.com started as an online bookstore, but they have since expanded to become a powerful e-commerce platform. Amazon.com uses digital technology to connect buyers and sellers and to facilitate transactions. Another example of a digital business is Digistore24.
In summary, digital business employs digital technology elements in its operations. Existing digital business examples encompass design services, website creation, digital marketing, social media influencers, affiliate ventures, and more. Are you contemplating embarking on a digital business journey?
Have your chance now, by [click]
Resource:
https://www.alphajwc.com/en/what-is-a-digital-business/
https://www.simplilearn.com/digital-business-article
https://digitalfireflymarketing.com/wp-content/uploads/2017/02/Big-Book-of-Digital-Marketing.pdf
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