Digitalization implies using digital technologies to boost a company’s business functions, products and services. During your stay on island are many advantages to digitization, additionally, it poses www.cloudycrowd.net/2019/12/06/digitalization-of-a-business-and-its-consequences/ a number of problems.

Advantages of digitization

Digitization may improve a company’s internal processes by eliminating manual tasks and reducing costs through automation. In addition , it can help a firm gain clients or increase its existing customer base.

Down sides of digitization

A key disadvantage of digitization is the fact that that digital information can be easily transformed and lost. This can bring about errors and misunderstandings.

Additionally , a company may become overly dependent on technology. This can result in a lack of human abilities and decrease production.

The emergence from the digital financial system has led to an elementary shift in the manner businesses produce and market many and companies. In contrast to traditional industries, which rely on expense and labor resources for their products and solutions, an electronic digital economy works with efficiency.

Hence, it is crucial to have a crystal clear vision by what the digitalization of a firm will require and put into practice it logically.

The significance of digitalization on a firm’s value creation, proposition and capture were investigated in two distinct industries, the media and automotive industry, applying qualitative empirical info collected by 12 vital informants. A conceptual placing depending on dynamic functions was used to frame the empirical study (see Figure 1).