A lot of businesses with fantastic, highly driven CEOs perform very well but still end up as local businesses.
One of the hindrance factors is lack of technological cohesion and acceleration.
Deploying the appropriate technology to digitize your business gives you speed and wings, it reduces your worries too.
Technology has moved at an extremely fast pace over the last couple of years. It has turned the world into a global village. Gone are the days when doing business looked like asking someone to run from Europe to Asia. Though this man sent on this journey would one day get there, but you know he would go through lots of stress and spend plenty of time.
According to Google.com, digitization is simply the conversion of pictures, text, or sound into a digital form that can be processed by another device called a ‘computer’. In times past, we were used to the analog ways of doing things like carrying about of office files from one section to another which have caused us not just stress but also time and resource.
Digitizing your business will drastically reduce stress, increase efficiency, increase the speed of execution, and concurrently increase your revenue and profits.
In all fairness, I think a lot has changed in recent years as most industries and organizations have now discovered the importance of technology and have keyed into it. Companies all around the world are keying into this paradigm shifts as it is less time consuming, cost-friendly, much faster than the analogous way of doing things. It also comes with plenty of security and balance relative to its manual opposite.
Before now, business owners spend a whole lot of fortune just to make sure things work according to their script, they spend extra cash in recruiting more workers and buying more materials like paper, files, drawers, office spaces, etc. to keep all records of their daily activities.
I heard about a top company some years ago which got burnt and lost a lot of valuable documents in that process. As at that time, they were competing with another competitor for a million-dollar deal which they eventually lost.
It was absolutely a bad day in the office for them and the CEO, while he was been interviewed, was cleaning tears, explaining to the media the occurrence and how he felt after missing out.
I’m sure you won’t like to see yourself in the aforementioned CEO shoes because if he had the foresight, he would have digitized his business before the incident ever happened and he had to learn this in a hard way.
Let’s look at some of the reasons why you need to digitize your business.
Your customer happiness is one very big reason why you should digitize your business. Your customers are the reason you are in business or out of business. Having happy customers will produce a multiplier effect on your entire business. It will make your staff happy and reduce staff turn over, it will lead to easily bringing in more customers and higher profits.
Taking a lot of time to respond to customer inquiries because you don’t have all their information in one place will not make them happy with your service. A digitized business
— Digitizing your business allows you to spend less amount of time carrying out a task or operation in your place of work and you will be able to focus more on tasks that give you edge over your competitors. You will free up time involved in running manual errands so you can dedicate it to creating faster growth or more intellectually productive activities.
— Every business owner’s aim is to save costs and make more profits. Digitization will help you in achieving that as you don’t have to worry about recruiting more staff to get the work done for you, which allows you to save money for your next big project.
— Carrying out all daily transactions and duties manually can be very demanding because you have to perform your business activities in analog ways like carrying office files or documents from one office to another. But with digitization in place, that is very likely to be eliminated because you can share files, request approvals or permissions digitally without changing location. Too much stress in a job can lead to high staff turnover. With a digitized business, your quality staff will stay longer because they can focus on their main jobs without associated stress from running a manual system.
— Response times for internal inquiries and external requests will be seriously reduced. Digitization really improves response time in business as you don’t have to wait for someone to come over to pick up documents for processing. Instead, you can easily share or forward those documents digitally and the receiver could also give you his/her feedback in no time. This advantage alone can make the difference between a dead business and a living one.
— Speedy planning and decision making are two very crucial practices for succeeding as a business owner. Planning and mapping out strategies to hit your targets and beat your competitors are not always easy, but with the help of digitization, those shortcomings seriously minimized as it speeds up both the planning and decision-making process.
— Many businesses now want global reach and global recognition, to achieve this, there is need for you to digitize your business. This will help take your organization or business to the next level and many clients will start reaching out to you to do business with your organization.
— Whenever we talk about digitization, agility is another very important thing we like to put on the fore. The agility of a system is the ability of such a system to rapidly respond to change by adapting to changing situations.
You will be able to adapt faster to changes in the market, environment, government regulations, and more.
Technological cohesion or cohesiveness to a business means using technology to bring everything, every department into one place so you as a business owner or driver can see all and be all from one same platform.
And instead of worrying about multiple things, your mind & energy is freed up to focus on growth – maybe international growth.
The appropriate technology has a cohesive effect.
You will be able to see how success in one business area affects the other areas, how failure in one key area can affect other equally important areas. This is technological cohesion so that you begin to understand with data that all departments and their successes or failures are connected and some are more connected than others.
Technological acceleration is the ability of technology to accelerate speed to market for a business – while others are still thinking, you are already implementing.
While others are carrying their paper files home because of a lockdown situation, you are thinking higher strategy not wasting time on how to get a file you left at the office. The appropriate technology preserves focus.
A digitized business resembles a better structured business with plans for continuity. By digitizing your business, you set a benchmark for the category of people you expect to work with you to grow the business. You also radiate the aura of a well structured, planned and managed business; quality people prefer to work in quality places with other quality people.
Quality people prefer their professionalism to shine through and manual processes impede that professionalism as a lot of time is spent navigating bureaucratic processes instead of providing value.
Digitization is said to be the process of converting analog materials such as files, company staff roster lists, office data, or information into digital forms. This process may involve outright changing or switching business models based on technologies.
Simply put, the first process in business digitization is making your business processes and documents safely available on a digital platform. A good example of an industry that has applied digitization to their business is the banking sector. In recent years, bankers go through hell in their day to day activities to satisfy their customers as they had to do most of their processes manually, but things seem to have turned around as you (the customer) can make use of your credit card to withdraw cash from anywhere in the world.
Are you a business owner thinking of getting tasks done in record time and spending a lesser amount of money to run the day to day business activities? If yes — why still wait again? Begin to make progress on digitizing your business.
Carrotsuite is business digitization and automation tool with which you can completely digitize your business, structure different departments so your team can work and collaborate from the cloud.
Learn more here.