Digitalization: Doing Something Better and Something New
Inside SnapAP, we talk a lot about what is driving our customers to seek new solutions.
The current consensus is that the need for efficiency drives our customers’ decisions. Cost escalations from manual processes mean that everyone in SMB’s is looking for operational cost savings.
Now, three decades after emergence as the Web, customers and suppliers alike are all interconnected from every business as website traffic and transactions.
Bottomline savings are the promise of digitalization of purchasing and payments. This global consultant’s blog post skillfully lays out the five principle component benefits of digitalization for any business seeking competitive advantage, or simply keeping up.
This is an easy read for comprehending why everyone is talking about the financial gain and the competitive edge that digitalization can hold for your business.
Figure 1.0: Identifying the five core change elements making up the Digitalization of Business today.
“Digital transformation is the use of digital technologies to enable an
organization to improve or evolve into something new.”
“In other words, digital transformation means using digital technologies to do things better or to create something that did not exist previously, as shown in Figure 1.
Although the term may be new, the concept is not. Digital transformation has its roots back into the 1950s, when digital computers were first introduced in business. Digital transformation began then, although the technologies available today are obviously far better and more powerful than what was available back then.
Now, in practical terms, what does it mean for an organization to improve or evolve into something new?
Blog post by Strativa: Analysis by Strativa President, Frank Scavo. Strativa is a management consulting firm providing independent advice for business and information technology decisions, along with practical assistance for implementing those decisions for bottom-line results.
About SnapAP: SnapAP is a cloud-based, accounts payable process automation software. SnapAP integrates seamlessly with any existing financial or internal production management program for gains in efficiency from digitalization of the procurement to payment process.