The Advantages of Digitalization in Business

In today’s fast-paced business environment, data and operations efficiency has become the make-or-break factor for enterprises. This is where digitalization in business has become the centrepiece to help businesses stay ahead in a hypercompetitive landscape.

Let’s take a look at how you can embrace the digital transformation for your business to remain relevant.

Digitalization in business is the adoption of IT solutions and equipment to enhance business processes. Digitalization enables automation, increased data quality, and improved efficiency.

Simply put, it is the process of improving archaic business processes with state-of-the-art technology and solutions. If you’re in the retail business, it can be upgrading your inventory process from manual to digital. Another example would be in engineering where predictive solutions are used to improve energy usage to reduce carbon footprint and cost. Digitalization covers numerous industries such as food, logistics, precision engineering, construction and landscaping. It is now critical for all businesses to include digitalization as part of their business strategy.

Digitalization in business is important so your enterprise does not lag behind competitors. We’ve listed some of the advantages that digitalization can give your business should you choose to adopt it today:

Digitalization enables your business to gather valuable data. For instance, you would be able to see lapses in certain operations processes from real-time data.

It prompts you to take action that could benefit the business in terms of cost. Technological tools also help make your work easier, saving time and more resources that could be channelled into growing the business.

Part of digitalization in business is to increase your digital footprint or presence online. A concrete digital strategy can include things like social networks, blogs, and corporate pages to improve your visibility.

This form of digitalization involves shifting from traditional forms of communications to modern platforms. It also provides new ways of communicating with customers efficiently and effectively.

We have assembled a team of professionals and trusted partners who can assist you and your business in increasing your digital footprint.

By adopting new forms of communications via digitalization in business, internal communications can also improve. Digital transformation can address loopholes in communications and help tighten internal processes. This would help improve talent retention by creating better job satisfaction.

By creating a team that enjoys doing what they love together, digitalization can also spur moments of brilliance. It can encourage team members to be more aware of the latest trends and possibilities offered by technology.

Automation and digitalization in business, reduce human error and accelerate time-to-value. What you can consider is to start with tasks that can be easily automated or reduce your time spent on administration. Once you get started, you can integrate more digital products and solutions into your business workflow. We strongly believe that digitalization in business is about having a strategy in mind and taking one step at a time by just changing the small things because you don’t have to focus on the mundane tasks anymore. Once you start to feel and see yourself reaping the benefit of this automation, you can proceed to look at other small tasks or workflow to automate. Success breeds success, this would lead to further automation and better workflow within your organisation.

Also known as PSG, the Productivity Solutions Grant was launched in 2018 to help businesses realize their potential in Singapore. It supports the adoption of pre-scoped IT solutions, equipment and consultancy services.

The maximum funding ceiling was raised from 70% to 80% and extended to March 2022 to encourage enterprises to adopt digitalization in business.

The eligibility criteria for businesses are as follows:

If you would like to take your efforts to the next level with digitalization in business, get in touch with our professional team of consultants today. We provide a free 60 minutes consultation to understand your business and provide a holistic digital roadmap for your business. You can also receive up to 80%* of the PSG government grant for our Xero packages. We also have an expert panel of partners who are able to advise and assist business owners on the grants available for their business.

*Terms and conditions apply