Digitalization indicates using digital technologies to enhance a company’s business processes, products and services. While there are many positive aspects to digitization, in addition, it poses a number of troubles.
Advantages of digitization
Digitization may improve a company’s internal techniques by eliminating manual tasks and reducing costs through automation. Additionally , it can help a company gain new customers or increase its existing customer base.
Cons of digitization
A key pitfall with digitization is the fact that that digital information could be easily altered and wiped. This can result in errors and misunderstandings.
Additionally , a company may become overly dependent on technology. This can result in a reduction in human expertise and delay production.
The emergence on the digital financial system has led to a fundamental shift in the manner businesses produce and market goods and offerings. In contrast to classic industries, which in turn rely on high costs and labor resources for their products and services, an electronic digital economy performs with productivity.
Hence, it is necessary to have a distinct vision of what the digitalization of a organization will implicate and put into practice it logically.
The effects of digitalization on a firm’s value creation, proposition and capture were investigated in two special industries, the media and automotive industry, employing qualitative https://cloudycrowd.net/2021/12/06/4-types-of-innovative-business-models/ empirical info collected from 12 essential informants. A conceptual environment based on dynamic functions was followed to structure the empirical study (see Figure 1).