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The era of digitisation is said to have already come to an end, with a vast majority of businesses already having made the transition to all things digital. Today, we look at everything you need to know about digitisation and why it matters for Aussie business owners, so strap yourself in and keep on reading!
If you're an Aussie business owner who has yet to make the leap, the great thing is that you're not too late. In fact, it is never too late to digitise your business, and with a few simple changes, you'll be able to catch up in no time.
What Is Digitisation?
In order to transition your business, it is first important to fully understand exactly what digitisation is. By definition, DigitIsation is the use of digital technologies to change a business model and to aid in providing new revenue and value-producing opportunities; in a nutshell, it is the process of moving your business to an online platform that thousands can access without having to leave their homes.
Due to COVID-19, 80% of businesses were forced into digitisation to survive the pandemic and the stay-at-home orders that were and currently still are being enforced on millions of people worldwide. The need to digitise has gone from an option to something absolutely vital if a business hopes to survive this new competitive environment, let alone thrive.
Benefits Of Digitisation
There are numerous benefits to digitising your business, and some of the most prominent reasons include:
1 Increased Productivity
Digital data is easy to access, transfer and search through -- all vital components of business that help to lead to better and quicker workflows. Depending on what type of business you operate, digitisation aids in increasing output with the same resources and can help alleviate a lot of the stress and burden on your employees. For example, a paper or physical document that may take 20 minutes to retrieve can now be accessed within a matter of seconds, thus increasing your productivity levels by tenfold. Considering digitisation is so mainstream in today's world of business, any hiccups that you may face with software or your computers can also be fixed in a jiffy with the help of IT support in Melbourne.
2 Bypass Geographical Limitations
With regular brick and mortar outlets, your customer base is limited to people who are local to your area. Thankfully, the age of digitisation has almost completely bypassed geographical limitations thanks to online shopping and the billions of people who now rely on instant purchasing power, regardless of where they are located. One great example of success can be seen with online retailer AliExpress. This platform has helped hundreds of thousands of retailers all around the world reach an audience with the help of dropshipping. Whether it's AliExpress or Shopify, using a powerful eCommerce platform can provide you with additional customer reach that was once impossible in order to help your business grow and thrive.
3 Cost Reduction
With the help of digitisation, you will require a smaller workforce of employees, which ultimately leads to cost reduction. Electronic files also minimise or, in some cases, entirely eliminate the transportation costs of moving documents from point A to point B. Additionally, surveys have found that over 70% of Australian businesses managed to achieve a positive return on investment within two years of undertaking a digitisation program.
4 Enhanced Security
With digitisation and online shopping, you almost entirely eliminate the chances of encountering shoplifters that steal your merchandise and ultimately lead to a loss in revenue. Online transactions are incredibly secure with the help of platforms like PayPal and tools such as SSL certificate that keeps user data secure, verifies ownership of the website and prevents attackers from creating a fake version of your site. Furthermore, online purchases leave a permanent paper trail that you can always refer to at a later date without having to worry about losing physical documents and receipts.
If your business still relies on paper documentation and in-person purchases, the time to digitise is now. Long story short, all businesses thrive on modern technology and with its help, you'll be able to expand your reach, increase revenue and boost productivity levels with little to no effort needed on your part.
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