Digitization
It is the world of #digitalleadership and #innovation. Everything is going digital nowadays, from the photograph which was once taken by a polaroid camera is now taken from your mobile phones to the snail mails, which took days to send and receive messages that have now become instant sent and received emails. #Digitization or #DigitalInnovation is mainly the act of converting data into a digital format, easily readable by a computer. Bits are the basic unit of digital information, essentially it is what the computer interprets that are ones and zeros. So, for a computer to organize, process, and manage any type of information, the information has to be in digital form. #Digitization is of great importance in this regard because it permits any type of information, may it be an image, sound, or document, be transferred, stored, or processed with equal efficiency.
In Layman’s Terms:
As described before, digital information occurs in the form of zero and one, which is one bit, and a sequence of eight bits constitute a byte, which further forms a kilobyte, megabyte, gigabyte, and so on. Analog information such as text, sound, the image can be converted into a binary code. A scanner does exactly that, it takes the physical document you provide and converts it into a computer file such as a jpeg, and hence the document is digitized. When needed, it accesses the digital file and shows you an approximate replica of the original analog information. It goes without saying, that #digitization has great implications in a variety of places and business development is a major field for its application.
How business can benefit from it?
Digital integration is the proposition information on any electronic device can be accessed by any other electronic device. This idea has huge applications in businesses and industries. The need for speed is ever-growing when it comes to business systems, information needs to be transferred rapidly up and down the hierarchy. Establishing a working Data Center can help improve your business with telecommunication as well as the storage of valuable information available to you when you need it. Similarly, A Payment System is valuable to a business because monetary transactions can be done without the need for traditional ways such as bank drafts, cheques, and documentary credits. Digital BankingorOnline Banking has made this possible for any business or company. ERP systems can help a business streamline its back-office jobs by automating them, using ERP software with integrated applications made for those tasks. No need to waste useful manpower to perform back-office tasks. VDIs and Cloud Storage can be set up in a business environment so that clients can access information that is stored directly on a central server. Audio Visualsintroduce the office environment to a whole new method of communication so that everyone can fully understand, for example, an office presentation on a new project.
The Outcomes of Digitization:
The most noticeable outcome will be the digital presence of your business. Business is limited to the area it is active in. With a digital presence, such as an online store, social network advertisements, your business can address a wider area and can provide more contact channels to the customer.
Improve productivity and efficiency is another main advantage. Filling out old forms or doing repetitive tasks takes productivity out of the job. These tasks, when digitized can become quick and less time-consuming.
Working conditions can improve manifold with the help of digitization. As the working hours can become more flexible benefiting the employees. Happy employees are the foundation of a productive business.
Opinion:
In my opinion, the way we are moving ahead towards cashless and digital banking. The payment industry evolving very rapidly which can be very visible in 2020 with a little bit of maturity.
- Vision 2030 of KSA mainly focused on Digitization and we have already witnessed changes in our life with Madapay, STC pay, and digital banking improvements in this country. I will try to write a separate article on Digitization in Saudi Arabia.
- Emerging markets and governments are going towards digitization. Recently Dubai announced a virtual business license. Estonia already offering eResidency.
- Pakistan announced Digital Pakistan e-Governance Program.
- CDS (Canadian Digital Service) teamed up with all Federal departments and agencies to fulfill the digitization of their citizen needs.
I would like to close here the list of the examples, as have global phenomena nowadays of Digitization which is evident that Digitization will become a necessity in our life very soon.
