How Can ‘Going Digital’ Help Your Business?
To put it across bluntly, going digital is no longer a choice.
Digitization is a key component of every company’s digital transformation initiatives. Global companies and institutions are either moving to or considering the option to digitize their piling stack of documents. It is now a well-known and proven fact that for the one-time effort of setting up a document management system, the long-term cost benefits and ROI are staggering. But despite increased awareness, many companies still don’t ask themselves that crucial question, “Why should I digitize? What does going digital mean to my business?” General digitization talk is limited to protecting documents fire, scanning documents, etc.
I have briefly expressed below, how businesses can make the most of digitization and on a wider scale, benefit from ‘going digital’?
Going Paperless is Just a Start
Moving from paper documents to a paperless setup is just the beginning. One immediate tangible result of the transition will be a higher ROI. Yet the general attitude to digitization is ‘scan, save and forget’. Many local institutions do not use digitization for sharing, access, digital signatures, etc. They are yet to understand the need for powerful and reliable software, a framework or a comprehensive solution to their document management needs.
Training is a crucial process, prior to digitization. How will the Enterprise Document Management System (EDMS) User Interface look like? What will be the available functionalities? How do you view, share, edit and update documents? What other procedures and compliance need to be followed? Training ensures uninterrupted integration of the EDMS processes into the company’s workflows.
Influencing Customer Choices
The digitization impact: A huge amount of information will be available for big data analysis. In-depth insights into business patterns, customer behavior, the time taken to respond to customer requests, the percentage of loyal customers or one-time customers can be analyzed using big data. More people are willing to share selective personal information with trusted online brands. Digital content has much more chances of influencing their purchasing decisions.
You will be able to clearly view and document why a customer bought a particular product or availed a service. You can actually measure how leads were generated and what caused sales or subscribers to step up and finally convert to profits. Comparison and evaluation will become easy. Your upcoming business strategies will be based on this (previously unavailable) data.
Handy Cost-Effective Tools
Reach out to your target customers through email marketing, social media and search engine optimization. Customer response to these digital mediums will tell you exactly what your customers want. No more ambiguity. Customized services will now drive your revenue model.
‘Go green’ is the trending corporate mantra. In this age of growing global awareness for environment-friendly processes, digitization is the best alternative available.
A digital strategy must look beyond the obvious benefits, include tough decisions and involve every employee of the organization, the customers, and all the stakeholders. For unless you go all out, your company’s digital transformation will be limited to scanned copies of PDF documents stored somewhere out there, and nothing more.