Digitalization: Why Your Business Needs a Digital Transformation Today
Digitalization has opened a big new world of business opportunities, and investing in it is probably in your company’s best interest – and the most profitable decision you may make.
With almost half of the world’s population being active Internet users, it is no wonder most businesses are deciding to undergo digital transformation. Digital transformation, or digitalization, has integrated itself into every aspect of society, including business, government, healthcare, mass media, science, and more. Business digitalizing as a global phenomenon provokes fundamental changes in how companies operate and how they deliver value to their customers.
But What Exactly is Digitalisation?
Digitalization is the transformation of physical processes to digitalized processes, achieved through business and wireless networks. The outcome is higher process efficiency, lower transaction costs, and better control over a product or service.
Even tech giants like Microsoft continue to upgrade their products through digitalization. In 2014, Microsoft decided to upgrade its traditional Microsoft Office software system, based locally on user’s devices, to a cloud system that was more fluid for both personal and enterprise use. This simple shift led to a market cap of $1 trillion and raised the value of a share of its stock from $38 in 2014 to $136 today.
Why Go Digital For Your Business?
In an information-driven world, it is data we keep in mind when thinking about digital trends. Companies today are either moving their products and services into digital environments or building new business models in order to not be left behind. Digital innovators like PayPal, Uber, and Airbnb have realized conventional, hospitality, financial, retail, and transport industries in digital spaces. This is to cater to a new generation of online customers, who are used to perusing products and services with a single click.
In fact, businesses that do not get accustomed to change soon will become on the verge of extinction.
Thus, the first step to digital transformation is in digitalising your data. Making your data digital helps you build a better business. Here are 3 reasons why this is a good idea:
- You Save on Cost and Time. It costs less to store your documents in a digital format. Just think about it – you’ll need less office space, fewer folders, less paper, and fewer resources to operate on them physically. Printing, sorting, filing requires tons of billable working hours instead of a few clicks of a mouse.
- Enhanced Performance and Productivity. With all the critical business data available in real-time on any device, you can access your data at any time from virtually everywhere, starting from comprehensive financial information to being able to communicate with customers in an efficient way.
- Secure Data. It is needless to mention that vulnerability issues arise when working with physical documents. Storing data in a cloud with modern security restrictions is now an adopted practice throughout all industries and sectors globally.
It’s Time to Embrace Going Paperless
Making the move from paper to paperless is part of the digitalisation process. It all starts with digitizing your workplace in these 5 key steps:
- Digitize: convert all documents from paper to digital
- Organize: categorize documents in a central electronic filing system
- Automate: digitize business processes using automated workflow
- Streamline: take a high-level view of business processes to identify bottlenecks and opportunities for more efficiency
- Transform: use advanced analytics to turn data into insights on how to make your company even more efficient
Therefore, document management software is a crucial tool to this road to digital transformation. Beyond the immediate benefits of going paperless, digitizing is the first step to transforming your workplace and ultimately driving the business forward.
ProDoc is the Document Management Software You Need
There is no doubt that there are a variety of document management software (DMS) in the market. A good document management software (DMS) has to be able to work with digital file types, not just from office software, but also technical plans, images and designs, and anything else you could imagine previously being printed on paper, including from legacy file formats. It should also include a document scanning solution, either as a standalone or part of an OCR scanning software package, so that any paper invoices, receipts, or other documents can be scanned so that a digital copy can be archived while the paper version is recycled.
If no other DMS immediately comes to mind, then ProDoc might just be the answer for you.
The paperless office has been a long-time coming, but it’s finally here for those who want to embrace it. With ProDoc, you’ll be able to scan and upload hardcopies and softcopies instantly. From there, the OCR scanning tool records and recognizes the characters in the document, converting the file from a physical document to a digital one. This makes it easier to index your documents according to your desired categories. From its platform, you’ll be able to easily share, track and check your documents through Web or mobile anytime and anywhere, making it easy to collaborate with your employees or fellow team members from wherever you are.
Why Not Try ProDoc Today?
By digitizing your documents, your business is set on a path of complete digital transformation in order to respond to the needs of the modern business environment. After all, more and more business leaders have come to understand the importance of digitalization and the benefits that come with it. Starting your digitalization process lays out the groundwork for you to demonstrate your ability to deliver innovation.
Combined with great customer support and flexible pricing, ProDoc is set to change the way your business collects payments, for the better. So why not try ProDoc today? Click here to find out more about ProDoc.
Written by: Eloise Lau