In today’s rapidly changing world, digitization and businesses are inextricably linked. Digitization can significantly benefit the economy in numerous ways.
Let’s journey back in time to a world devoid of telephones. Thanks to Alexander Graham Bell’s groundbreaking invention of the first bell telephone in June 1875, we can now connect with loved ones across continents. The arduous days when mundane tasks, such as sending a letter or withdrawing cash, were a source of frustration.
Today, merely using an app to send texts or scanning a QR code for payments revolutionizes our daily lives. Indeed, digitization is a powerful force. Numerous businesses and services have courageously embraced digital transformation. The concept of digitization has permeated every aspect of our lives, ranging from e-visas to digital payments. With technology as our steadfast ally, we possess infinite potential to shape the world in the years ahead.
Why is Digitization Important?
Imagine the cumbersome era when people carried heavy files to their office and sending files across the country was an excruciating ordeal. Today, we have every file stored in a folder or a cloud storage, accessible with a simple link. Tasks that once took hours can now be accomplished in a snap.
The advent of computers and digitization has revolutionized our world. From shops and banks to schools, businesses, and voting machines, nearly everything has been transformed into a digital format.
Digitization acts as a conduit between consumer demands and the services offered by businesses. The convergence of technological advancements, escalating consumer demands, and intensifying competition has given rise to Digitization.
Newer businesses, naturally adapting to changing technology, are swiftly earning profits and outpacing their competition. In contrast, older, established businesses are facing challenges in adapting to the evolving business environment. To address these challenges, digitization has become increasingly evident in recent years. By embracing digital solutions, businesses can better cater to the needs of modern consumers and develop more effective ways to interact with them.
Digitization targets all those businesses that have been overlooked in the mainstream.
Why is Digitizing Important for Business Transformation?
In today’s world, businesses are increasingly diversified. Indeed, anyone from anywhere can set up a business. Moreover, digitizing helps a business to be more cost-effective, operationally efficient, and equipped with better tools to track and manage their resources and people.
Here are some points that businesses can benefit from digitizing:
Accuracy
Improved stock management
Enhanced employee tracking
Operational efficiency
Reduced time wastage
Better resource utilization
How Digitizing Will Benefit the Economy?
Digitization benefits the economy on a larger scale. From smaller businesses to large enterprises, banks to capital goods, every sphere has embraced technology. Software has been implemented that efficiently manages every internal operation to prevent loss of data, resource, time, and money.
Digitization has expanded market horizons, transcending geographical boundaries and propelling businesses onto a global stage. According to RBI, India’s core digital economy has flourished, expanding from 8.5% of GVA in 2019 to 12.5% in 2023, with a remarkable 15.6% growth rate. For full article click here.
Moreover, internet access has catalyzed a surge of opportunities, fueling diverse business ventures and global digital commerce.
This is precisely what Fieldmobi is behind. Through ERP implementation, we empower overlooked business owners and bridge the digital divide for those with limited technological know-how. Our mission is to democratize technology and moreover make it accessible to all.
Consequently, digitizing businesses and services will lead to a more robust economy. Digitization indeed is a potent tool for any country’s economy.
At Fieldmobi, we have also come up with our new mobile based solution for warehouse management, distribution, inventory, transportation, logistics and much more. For more information check out our article here.
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