Technology has moved from being a competitive advantage to a necessity in any business. Digital transformation has affected how companies operate. From customer experience to the general working environment, you can tell that a lot of efficiencies are due to the use of IT technology in business, which has made companies experience rapid growth.
With these three tips, you can take more advantage of IT to help keep your business on top.
Thanks to the internet, sharing information is no longer a problem. Marketing and sales research do not have to take months to compile. While before one had to physically look for samples to run a questionnaire, today, with the right tools, you can get thousands of people participating in data collection processes across the world. Also, transactional, social and operational data is now in a free flow which a firm can leverage to improve its operations and decision-making processes.
Use of the Cloud
From One Drive to Facebook, Uber or Twitter, cloud computing is today’s Internet. Companies are saying goodbye to physical infrastructure and hallo to everything on the cloud. This shift has allowed companies to do away with office clutter and reduce costs on infrastructure development and maintenance. Services brought about by using cloud technology include Infrastructure as a Service, Software as a service and Platform as a service. Cloud computing has affected companies’ use of IT technology in business and it still holds a lot of promise.
Digitization and Digitalization
Though these two names are often used interchangeably, there is a significant difference in their meanings. Digitization is the changing of physical goods to digital forms. A good example is moving from using paper cash to electronic money as it happens in the Euro sportsbook. Digitalization is using digital techniques to create and run business processes. Both ways can help reduce company costs, reduce transfer risks and enhance management.