Digital Age in Business
Technology has made an advancement in reshaping our lives including business world.
Modern technology development still affects the business sphere and add new possibilities to the improvement process.
Digitalization or digital transformation is the process of converting information into a digital format where the information is organized into bits.
The topic of digitalization or digital transformation is a frequently used buzzword – but the question is what does it mean for organizations ? And how can companies enter the digital future?
Digitalization describes the continuous change process to digital processes, based on a sophisticated IT infrastructure, digital applications and optimally networked systems and data. The existing business model is digitally mapped and new digital products are developed. Almost everything communication, information, processes and services are networked via digital platforms.
It leads the fusion of online and offline, disruptive technologies and the radical change of entire industries. Automation, optimization, autonomy of processes as well as more flexibility and individuality of products and services are just some of the benefits and opportunities of digitalization.
The process also leads to innovative business models and digital products. The most common drivers of progress are increased customer expectations and competition in the market.
The rising trend of remote workers has led to an increased demand for on-demand data. The data that is accessible at any time, from anywhere.
Technology connect dispersed workforces as well. More and more companies are giving their employees the option to work offsite, allowing them to save money on the overhead required to maintain large workspaces.
Productive employees need instant access to business information, data, and their team; mobile-friendly technologies are a sure-fire way to provide that.
Collaboration is essential to business, but employees don’t have to be in adjoining cubicles to achieve it. With the abundance of free applications like Google’s cloud-based suite of products, staff members working from remote locations can collaborate and share documents easily. It makes things organized. Invest in a database system that allows your staff to easily add and access data, thereby saving time.
Updated mobile devices is one of the requirements to keep the employees connected as a missed call can mean a missed business opportunity.
Also digitalization extend the lifespan of older desktop computers by virtualising operating systems on offsite servers. Virtualization helps lower hardware maintenance costs and capital expenditures by reducing the frequency of required upgrades, in addition to saving costs on service upkeep.
Though everything has it's own positive and negative aspects.
Productivity depends on the number of hours spent with gadgets either it could be the cause of more production or distraction.
Gadgets such as mobile phones influence the usual routine of a person. As the social media is said to be one of the biggest distraction for youngsters but it can be a quick way to develop a project. It is a platform where one can get a large number of audience and this provides a better option for marketing.
But the digital transformation can also be the cause of leaked information. A proper security system is required to prevent this.
Keeping all the aspects in mind, with a fast access business governed under digitization can be more productive.
Student at Banasthali Vidyapith, currently pursuing bachelor's degree in Computer Science. Interested in learning new things.