Digitalization is the process of converting information from physical to digital form. This can be done through scanning, photography, or other means. Once in digital form, the data can be stored, processed, and transmitted more easily and quickly than in its physical form.
There are many benefits to internal digitalization, including
1. Increased efficiency: By digitizing paper-based processes, organizations can save time and money. For example, digitizing invoices can help companies automate their accounts payable process and speed up payment processing times.
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2. Improved decision-making: With easy access to data and analytics tools, decision-makers can make informed decisions more quickly. For instance, they can use data to assess which marketing campaigns are most effective and whether certain products are selling well.
3. Greater agility: Digital systems are more flexible than traditional ones and can be adapted more easily to meet changing needs. For example, a company might introduce a new customer loyalty program online more quickly than it could roll out a similar program in its brick-and-mortar stores.
4. Enhanced security: Digital information is often more secure than physical records, as it can be password-protected and backed up easily. Additionally, by using digital signatures, businesses can protect themselves from fraudsters who forge paper documents.
