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07 Dec 2021

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Transforming in the Digital Era: Advantages for Companies
Technology

Transforming in the Digital Era: Advantages for Companies

At the beginning of this article, it is essential to point out that digital transformation has become a major topic of interest among tech companies. A lot of tech giants are now adopting digital transformation as their means to tighten their hold on the tech market. Although tech companies have embraced digital transformation in an effort to remain competitive, other parties stand to gain from it. These third-party beneficiaries include consumers and investors alike. Other than these direct beneficiaries, indirect beneficiaries can be seen in the form of countries whose governments reap benefits from increased taxation due to intensified business activities caused by tech companies’ use of digital technology. All in all, there are many advantages for companies pursuing digital transformation with regards to both employees and consumers and themselves and other entities.

Convenience: first and foremost, companies that focus on digital transformation will gain access to many benefits for both their employees and customers. Digital transformation allows individuals the convenience of doing their jobs wherever they want. It also gives them the freedom to do side tasks while at work. In addition, it allows people to access information from anywhere without hassle which results in added convenience for all parties involved. This is especially beneficial for countries where working hours are typically long or cluttered with mandatory obligations such as attending meetings or taking part in conference calls. Furthermore, through digital technology, workers can now fully dedicate time to what they need to get done without disruptions coming from outside sources which boosts productivity.

Efficiency: many companies realize that through digital transformation, their employees’employees’ efficiency levels are increasing. This process is especially beneficial for people who work in managerial positions or possess specialist skills to utilize digital technology to promote their company’scompany’s success further. In addition, the different applications used by tech companies can help maximize workers’ talents and abilities to guarantee an increase in production levels. These include virtual assistants, business intelligence analytics tools, document management systems, social collaboration sites. Apart from these benefits, another way digital transformation increases productivity is through its ability to shorten turnaround times because it eliminates unnecessary overhead costs involved with traditional modes of communication such as postal services or telephone bills.

Flexibility: just like digital transformation increases employees’ efficiency levels, it also helps them be more flexible with their work schedule or environment. Again, this is especially useful for those who work in managerial positions because not only do they have the freedom to pick and choose locations where they want to conduct business but they can even change these locations at a moment’s notice to accommodate their clients. In addition, customers can access products and services from whichever area they want as well. This allow employees to work remotely unlike before where they had to be at an office or in a cubicle regardless of whether or not it fits their lifestyle. Furthermore, digital transformation allows people the freedom to set their own schedules because there are no longer mandatory work hours aside from the time they need to finish a certain task. Therefore, people can work on their tasks at different times of the day or night according to their preference without worrying about getting judged by others.

Fiscal benefits: companies that update their processes through digital transformation reap various budgetary benefits, which cause a lot of positive economic effects. Firstly, because employees are empowered to work independently without having to rely on others, they can accomplish tasks much faster than before, which promote the company’s success. Secondly, companies will no longer have to pay for overhead costs that might hinder their progress, such as rental spaces or electricity bills that come with owning office spaces. These savings can contribute to capital reserves, which will be used to finance new projects or make investments on top of the financial benefits received through tax incentives. Therefore, financial growth is made possible for companies because of digital transformation, which also leads to job creation and economic development for regions in which these firms operate.

The advantages mentioned above of digital transformation tie into a simple principle: it improves how people work, communicate and operate as a whole. People can now work from anywhere using technology as their primary resource, which provides them more personal time for themselves unlike before where they had to be in an office or cubicle regardless if it fit their lifestyle preferences. Digital transformation has put everyone at an advantage in making our own choices because of its freedom. The economy has also benefited from this phenomenon because fiscal benefits are generated, allowing companies to make investments, leading to job creation.

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