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Business Digitization: What is it?

Business digitalization is proving to be an essential model for the success of many companies in recent times. This is due to the fact that many companies _ adopt digital technologies to change the way their businesses function and provide new opportunities to generate value. In fact , digitization is more about implementing new processes or business models , including all activities and processes made possible by digital technologies , from automating activities to order processing, among others . benefits that technology can provide .

n a nutshell , digitization in business means the adoption of the use of technology in the operational processes of a company, bringing optimization and practicality both to strengthen the relationship with the client and to attract new ones. The peak period of the Covid-19 pandemic was a moment that brought up the need for digitalization in business, so that operations did not stop and made it possible for many companies to survive, but what really is the role of digitalization in business growth?

The of role of digitalization on business growth

According to the examples above, digitalization in business helps to improve the efficiency of business operations by enabling automation. There are fewer human errors and operating costs are reduced due to the decreased need for human resources. To fully understand digitalization in business, we must understand the role technology plays in the entire process.

Digital technologies have reconfigured the entire business landscape, enabling the transition from traditional analog to digital. Data is no longer stored on any storage device, but in the cloud, ensuring a competitive advantage among your competitors , as this method has a huge impact on team collaboration and performance . By using cloud storage, data loss is avoided and data backups are automated.

Customer behavior in a digitalized enviroment

Another significant change brought about by digitization is customer behavior. The way of buying and enjoying the product has changed with the incorporation of digital technology . By fully embracing digital technology, customers now use the internet and mobile apps to find whatever information they want, whenever they want. This means that they can compare different product offerings for other products or services and choose the best ones. In this way, technology can allow companies to continue to improve and transform to offer better experiences and quality of service, thus reaching new heights .

Lower transaction costs

Another change that business digitalization offers is the transaction cost that becomes lower as a result of the ease of operations. With the advent of technology , it has become easier to perform tasks that would otherwise be impossible or too expensive, which allows the price to also be reflected in this new reality. It is easier to set new goals and test them in a low-risk environment, which gives companies more information about future directions and whether or not they will be achievable. Startups are an example of companies that fully rely on digital technology. To be successful , they just need to test and test again , always looking to invest in agility, scalability and low cost of the process .

Advantages of business digitalization

Digitization in business has brought many innovations to the business scenario, such as greater efficiency of all operations, less human errors, more secure data storage in the cloud, reduced operational costs, as well as allowing for more efficient data analysis . All of this affects your business and the way business is done. Due to the implementation of digital technologies, workflows are becoming simplified and with little human intervention . All operations run more efficiently thanks to these streamlined workflows that enable companies to reduce operating costs. Without digital technologies, it would be almost impossible to reach the level of data analysis that is currently offered.

Greater digital presence

This is one of the most visible benefits of business digitization. Almost all businesses, from the smallest to the largest, are present through social networks, online stores and business directories , thus multiplying their visibility and offering greater interaction with the customer . Another interesting fact is that many companies currently only have a digital presence, which means that there is almost no offline presence. The implementation of digital technologies not only increased the company’s digital presence but also triggered the creation of new communication channels. New mobile apps and social media platforms are examples of these newly created communication channels. By harnessing the power of digital communication channels, an entrepreneur has the chance to implement a multichannel strategy, increasing the chance of increasing sales revenue and building customer loyalty .

For example, our customers can take advantage of various benefits by using the Cowork Lab mobile app available for IOS and Android.

Estimulus to innovation

Digitization in business has a great impact on innovations , as it continuously modifies the behavior of customers, but also puts the entrepreneur in permanent contact with the actions of their competitors, encouraging them to find innovative ways to differentiate themselves and stand out. on the market . Only continuous innovation allows the entrepreneur to be more attentive to new trends and new opportunities.

Successful business digitalization examples

There are many examples of successful implementations of digital technologies around us , some with more visibility, others not so much. In Mozambique, one of the most visible examples of the digitalization of business operations is in the banking market, as well as in the restaurant market, now with ordering, delivery and payment facilities.

Applications such as M-pesa, E-Mola and M-Kesh are some of the most used mobile wallets for commercial transactions and have greatly facilitated the daily lives of Mozambicans. Online banking is also not far behind, with most providers of these services having online applications that allow you to carry out any transaction without having to leave the comfort of your home or workplace. Mobile banking apps have become reliable, secure and fast. They make it even easier to handle your money.

Currently , partial or even total digitization of the business is not optional , but necessary. If a company is not yet evolving and adopting digital technologies , it runs the risk of being left behind , taking into account the myriad of competitors and the disadvantage of obtaining knowledge and privileged information that only the digital environment offers, so as not to talk about monitoring customer behavior . Digital transformation is nowadays the keyword for growth and one of the responses to market changes that affect all companies.

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