Why You Need to Digitize Your Business: Benefits Explained
Why You Need to Digitize Your Business ?
Digitization is the process of converting information into a digital format, in which the information is organized into bits. It means converting paper-based documents, files, and processes into digital formats. Although businesses have been going through document digitization for the last 10-15+ years, many companies have yet to fully embrace the benefits of digitization. In this article, we will discuss why you need to digitize your business.
- Increase Your Productivity
Digitizing your business means that you will have access to digital data that is highly searchable, quickly accessible, and easily transferable. This leads to better and quicker workflows, resulting in increased productivity. Depending on where your company's focus is, you can increase your output with the same resources, have happier clients (e.g. with faster deliveries), and have happier employees (e.g. with shorter downtimes of your coffee machine).
For example, a paper document that can be found on average in 12 minutes can now be retrieved within seconds, then possibly processed and delivered within 1/10th of the non-digital time. By digitizing your documents, you can target a 10x increase in productivity, without any reduction in coffee breaks.
- Streamline Your Operations
Digitization means that everyone who needs to be on the same page will be on the same page without any barriers or breaks. With current technologies (such as the cloud), everyone can have access and collaborate in real-time. The main benefits of streamlined digitized operations come from instant and virtually universal access to information, rapid analysis, project management and collaboration, time tracking, and more, all of them without using a single piece of paper.
- Cost Reduction
The dark side of "increased productivity" is "cost reduction". Yes, you can do more with the same resources, but you might also need to reach the same results with fewer resources. Digitization can help you move away from handling, processing, storing paper documents, with potentially significant cost reductions coming from personnel, storage, and transportation.
- Efficiency Boost
Streamlined operations, with higher productivity and/or lower costs, will result in a smoother, more efficient company. While digitizing, by itself, can lead to an efficiency boost, you can also use the process of digitizing as a unique chance to analyze and increase the efficiency of various functions, such as manufacture and logistics, customer requests and support, sales and marketing, etc. Whatever your pain points, leave no (analog) stones unturned.
- Enhanced Security
A digital document is trackable, and you can control who has access to it. Workflows and individual permissions can be instated to maintain confidentiality. Multiple copies can be set, so you can make sure that your documents are never-ever lost. Quite the opposite, information stored in paper formats is degradable, either by natural causes or unfortunate accidents.
In conclusion,
digitizing your business has many benefits that will help you remain competitive in today's digital world. With increased productivity, streamlined operations, cost reduction, efficiency boost, and enhanced security, it's a no-brainer to digitize your business. If you're interested in digitizing your business but don't know where to start, our experienced consultants will guide you through the entire process of digitization and/or software development. Together we will find the best digital solutions to help your company make a global impact. Contact us today!