A lot of people don’t understand digitalization, but it has significant implications for any kind of business. Knowing how to harness the potential of digital technologies for your company will provide you with an advantage and allow you to grow. This article will explore the meaning of digitalization and how it can benefit your business, and the challenges that you may face as you embark on your journey to digitalization.

Digitalisation is the process of making use of digital technologies in order to change the company’s business model and create new revenue opportunities and value-creating opportunities. The concept has a wide range of applications, from improving internal communication and processes to establishing an efficient supply chain and opening up new sales channels.

A number of interviewees mentioned that digitisation has changed consumer behavior. They are more demanding in regards to the quality of the products they purchase and no longer content with the offers of their direct competitors. Rather, they compare their products to those of different industries or providers as well (A6, A8, M1).

To meet these challenges businesses must adapt their business model in order to be capable of adapting quickly and efficiently to changing market conditions. In addition, they need to be able provide their customers with products and services that are customized to their needs. This requires a high degree of customer service and collaboration between different departments within the company. Digitalisation allows firms to create groups of collaborators, share information and develop new business models.

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