Information technology is driving “digitization” that is enabling businesses to move digital processes. There are several reasons why companies are adopting change; some do it for speed and agility, others to save cost or to ensure a global reach, etc. In short, digitizing your business lets you do things better, faster, and cheaper, giving you a competitive advantage over competition.
Some of the advantages for an organization as a result of digitization are:
conventional records into a digitized form to shortening the communications
– Improve and facilitate exchange of information
– Provide global customer service
– Reduce operational cost
– Prevent human error
– Access to analytics & real user data
– Improve the continuity of business growth
One of the biggest advantages of changing processes from analog to digital is it lets organizations operate without the limitations of geographical boundaries. If done properly digitization can help a business grow at a fraction of the cost. Moreover an accurate digitalization plan will surely help reinvent processes, improve quality and promote consistency. It is a proven fact that when an organization adopts the latest digital technologies, it gives access to all the information that decision makers need all the time, from anywhere, and on any device.
So how does an organizations move to a fully digital environment? Here is where the role of a competent chief information officer (CIO) comes to the fore. An adept CIO must have a thorough understanding of their business in order to identify technologies that will provide the competitive advantages. They should also possess management/leadership communication skills to present their technical plans to the decision makers in ways they will understand. In order to convince management of the benefits in terms of efficiencies and cost savings, rather than mere expenditure that can be avoided to ‘cut costs’.
Businesses which operate in a fully digital environment are able to use valuable information to obtain trends that could translate into knowledgeable decisions. When all the information is in digital form, the ability to secure an organizations knowledge drastically increases. The access to data can be managed user rights and level of security can be stipulated for each user, no matter where in the world they are. Similarly access can also be restricted as the need may be. The latest digital storage technologies of also provide audit trails which has the ability to record who all have accessed a document and what was modified in each file. Thus helping secure and archive huge amounts of data with key without cumbersome paperwork and processes.
In conclusion, shying away from digital transformation is not an option in today’s connected business environment. Only those businesses that invest in the best technologies will be able to stay ahead because they will have agility and cost efficiencies that others lack. A successful digitization plan and implementation will require the CEO and CIO of any organization to work in tandem as technology needs to be seen as an investment for future growth rather than as expenditure. Understanding the need for a paradigm shift is critical for any business to ensure growth, remain competent and ensure profitability.