What is digitalization in business?
Digitalization is a way to develop and modernize a business, by the transition from analog technology to electronic ones. Such changes are a necessity in the 21st century, considering not only the epidemic, but also upcoming tendencies of consumers’ behavior. Digital transformation is a must since an analog way of communication with clients is already not an option.
Due to the current situation, IT companies have become more of a digital transformation enterprise nowadays. Actually, digitalization definitely brings benefits, which sometimes are crucial changes in a way that businesses function.
First of all, going digital will allow your business to still function. Secondly, you can update the legacy processes. Thirdly, the efficiency of the workflows will be improved. Finally, these changes will help you make more profit, grabbing a bigger part of the market.
Now, lets make a quick overview of industries, where such an approach really worked.
Automotive nowadays is an industry, which can survive without cooperation with the IT sector. However, survival does not mean success in this case. This sector can be easily transformed by digitalization and also can make a big benefit, because.
First of all, a modern car requires connectivity. There are plenty of devices to control the vehicle, such as GPS navigators, vehicle cameras, and monitors for different purposes. All of that and a lot of other devices have to be interconnected by means of a cable, Bluetooth, Wi-Fi, and other means. To facilitate their connectivity, it is necessary to use the proper software. As a result, the work of these devices and systems will be automatized, which will improve the user experience.
Secondly, vehicles nowadays are nothing like they used to be. The trend of electrification dictates the new rules, and digital transformation solutions can help a lot of drivers switch from the conventional energy source to electricity with comfort. In fact, both electric and conventional cars undergo electrification because of the functions like power-assisted steering, smart light systems, traction control, airbags, and a lot of others.
Finally, there is a growing requirement for shared mobility services. Anything from bicycles and scooters to cars and vans can be rented, and the demand for such services keeps growing. To support such a business, its owners have to develop at least a mobile application. In such a way, a team of professional developers can transform a business idea into a real project.
The legal industry may also get a lot of digital technology benefits as a result of cooperation with an IT partner. This industry is currently being digitalized all over the world, and the driving force of these changes is the customers’ demand. Legal cannot be further isolated, but instead, it should be easily accessible, data-driven, and flexible. Moreover, the automatization of routine processes will be beneficial for the providers of services as well as consumers. The fact is that AI technology can do these tasks quicker and more precisely than a human specialist.
The situation when students and pupils all over the world have to study remotely craves technology to facilitate this process. Lucky they are to live in the age of information when they can enjoy the benefits of digitization, such as the technologies that can connect people all over the globe. However, using Skype or any other technology for video calls is not enough to organize the process properly. In this situation, there is also a need to use platforms that bring more order to the studying process. Moreover, the employees of some educational institutions also have to work remotely, and therefore corporate digital transformation is a must for them.
The retail industry has received digital transformation benefits earlier than most other industries. For instance, such companies as Amazon started their digitalization in the 90s, and the new technology brought them to their success. Nowadays, the need for a presence on the Internet for a retail company only increases. The first thing a person would do if they are interested in your product is to search for your company on the Internet. In case you have a presentable website, this person becomes your lead.
Like a lot of other industries, the financial sector required digital transformation, but the process was slow until it was pushed by the urgency that was COVID-19. However, the big corporations had all the means to survive the pandemic, while the small and medium businesses stagnated from it. The solution to the problem is digital business technologies because they can greatly affect information exchange as well as reduce the costs of transactions. As a consequence, small financial transactions become more affordable and may be carried out more frequently. Thus, it is still fruitful ground for different financial platforms, namely blockchains and cryptocurrencies.
Our experience in the fintech industry involves working with cryptocurrency marketplaces. We have already developed an advertising platform for Initial Coin Offering and Security Token Offering. The fact is that this industry is highly competitive, and therefore it requires custom solutions that will be unique for each case. Our project resulted in a balanced and flexible solution. On the ICO platform that we have developed, an advertiser pays for the number of clicks to his website but not just for listing. Besides, the platform presumes deep analytics and reports download. In such a way, we developed a product that makes information easily accessible, has a minimalistic UI, convenient UX, and last but not least makes it possible to instantly gain a lot of investors.
Tourism is yet another industry that can make most of the cooperation within the IT sector. The thing is that tourism was damaged by COVID-19 more than any other industry. In 2021, this niche is still in strong demand. However, there are a lot of limitations associated with traveling as well as there is a strong need for quick and seamless booking so that one can easily plan or cancel a flight or a reservation. That is why digital transformation is important in this field.
The fact is that tourism was one of the first industries that opted for digitalization globally, and it allowed flight and hotel booking on the web that changed the experience of its customers for the better. Apart from the booking, digitalization in tourism can create a lot of new opportunities that make a business more competitive and sustainable for further development. The problems of this sector can become new opportunities. While some business owners are complaining about the troubles of seasonality and overcrowding, others are using these opportunities to create smarter destinations.
As you can see, a digital transformation is a necessity for any business in the 21st century. There are two main reasons why it is extremely important right now.
Firstly, during two years of a global pandemic, humanity was trying to switch from live communication to online. Secondly, the competition is bigger than ever, and with the help of technologies, your business can become more visible, the processes faster and more organized, and the interaction more convenient for you and your customers.
In order to digitalize your business, you can contact us. We are a reliable software development partner with more than 10 years of experience. You can always check our clients’ reviews on Clutch to get an idea of what it means to work with us. The fact is that we always strive to get the work done in the best way possible. It is because we believe that your success is our success too.