02 6 月 Digitalization Implications For Your Business

Digitalization is a topic that is often misunderstood by the majority of people, and yet it has significant implications for every business. Understanding how to make the most of the latest technologies can give your business an edge in the market and will help you grow. In this article, we’ll discuss the concept of digitalization and how it can benefit your company, and a few of the obstacles you may encounter on your journey to digitalization.

Digitalisation refers to the use of digital technologies to transform the company’s business model and create new revenue opportunities and value-creating opportunities. The concept can be applied to a variety of situations which include improving internal communications and processes, establishing an efficient distribution chain or opening new sales channels.

Several interviewees noted that the digitisation had changed consumer behaviour. They are more discerning in regards to the quality of products they purchase and are not content with the offers of their direct competitors. Rather, they examine their products against those from other industries or providers as well (A6, A8 M1).

To tackle these challenges, businesses must adapt their business model in order to be flexible and quick to adapt to the changing market conditions. Additionally, they need to be able to provide their customers with services and products that are tailored to their specific requirements. This requires a high level of customer service, as well as collaboration within the company. Digitalisation allows companies to form groups of collaborators, share information and create innovative business models.

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