Digital shouldn’t just be a vision statement but the core of your business strategy
The Digital Revolution has swamped businesses, economies, and is an integral part of people’s everyday life. Digitization simply put is the process of converting information into a digital format, i.e. into binary digits. Information is converted into a digital format, for easy processing in the future. Digitization paves ways for information that gets stored into a digital data format. The information which is converted is referred to as a digital representation or a digital image.
Digitization is crucial for the digital age. Data is now gleaned from digital platforms. Digitization is important for storing data and for its transmission. On digital platforms, information can be absorbed on a much faster rate, and it’s easier to distribute. Unlike a hardcover book or document, information can be stored online for posterity. The data will remain intact and is not corrupted by other influences like wear and tear.
Digitization also isn’t just for data-storage, but it’s also action-oriented. Digitization can propel people to take action. For example, digital marketing agencies use their digital platforms to influence sales and customer behaviour. Governments use digital mediums to gather public support and to encourage people to vote. Social media, websites, email marketing, and targeted advertising are all digital mediums which are based on an action-oriented approach.
If your business isn’t digital, then you’re probably losing out to your competitors who do. It’s crucial to transform your company into a digital enterprise, if it isn’t already. Take your company digital by adding and working with cloud-computing systems. This boosts your company’s capabilities.
Since it started in 1993, 3i Infotech has been at the frontier of digital innovation and change. 3i Infotech is a global information Tech company which is dedicated to providing innovative solutions for business processing. 3i Infotech uses an IP based software solution, with other integral and cutting-edge IT services. The company addresses requirements of the Banking sector, insurance, capital markets, and Asset & Wealth Management. It also provides services to other sectors like Government, Healthcare, Distribution, and Telecom.
3i Infotech has been helping Banks augment their banking capabilities by managing their retail operations, internal & core banking, risk analysis, asset liability, fraud detection, and universal lending. Businesses have been profiting from 3i Infotech’s innovative and digital- first approach. Supply-chain operations, finance and HR capabilities were improved because of enhanced productivity, and improved operational efficiency.
A digital-first approach is essential for your institution to survive and prosper in the age of digitization. Institutions like 3i Infotech are key propellers who can boost your business and give it the push it needs to succeed.