When is the last time you heard the word digitize? Truth be told, other than ‘digitization’ being an extremely high scoring play in Scrabble, the term often gets lost in a sea of buzzwords associated with tech trends like modernization and simplification. Buzzwords start to lose their meaning and significance to a business owner when used too frequently and interchangeably, but sooner or later the digitization process will play a unique and irreplaceable role in every business.
So what is digitization?
It seems like a process that’s just as new as the internet, but it’s actually been a part of innovation for much longer. Put simply, it’s the process of converting something into digital form. In a business context, this could be anything that transforms paper processes into digital form to improve efficiency.
If you feel at home in the paper-era, we know you have reasons for not wanting to jump headfirst into the world of digitization. However the reasons for implementing a digitization process are pretty compelling, so hear us out at least.
Your Most Valuable Asset is Your Time
You’ve probably heard the expression before. When considering your business, time is often the most overlooked factor, when in reality it is our greatest asset. Digitization allows employees to spend less time on simple, repetitive tasks and focus on more complex, crucial tasks that result in a more efficiently run business. Transforming your business through the digitization process creates more access for your team to get things done rather than the roadblocks of outdated processes and paper trails, meaning they save time and you save time.
The Price is Right
I know what you’re probably thinking – Doesn’t digitizing my business mean that I’ll need to implement new software and processes that have a higher price tag than what I’m paying for today? While new technology inevitably comes at a steeper price than what you already have, deciding to digitize your business will reduce costs in the long run. Operating with the future in mind, digitization saves on storage space and cuts excess costs.
Now More Than Ever, Security Matters
In our day and age, keeping data secure is no longer a ‘nice to have’ benefit from a business, it’s expected. Data security matters and if it’s not upheld it can destroy a company’s trust among customers. When you digitize your business, you create additional barriers for keeping customer data safe and instill greater amounts of trust among your customers.
Get A Leg Up on Your Competition
There’s no easier way to differentiate yourself from your competitors and create more separation between their business and yours than by digitizing your processes. You’ll have a quicker turnaround, more efficient communication in place which will result in improved customer experience. Plus, a digitization process enables your organization to continue to innovate faster, making it easier for your team to adapt to an ever-changing market.
Leave a Greater, More Positive Impact
Speaking of ways to continue to improve your business and set yourself apart, let’s talk about environmental impact. Maybe it isn’t top of mind when considering reasons you need to digitize, but the positive impact business can make on our environment by simply reducing their paper production and automating manual processes is significant. Digitization allows you to leave a greater impact on the world by simply reducing your output of paper.
Here’s the thing about digitization, it isn’t just a buzzword or trend that will be one day here and next day gone. Imagine how many people thought the Internet itself was just a trend? Now it’s second nature for businesses. More and more companies are looking to improve their processes and digitize their business. So, where should you start? Check out our recent whitepaper on the three documents your company should start to automate today.