Digitalization signifies using digital technologies to further improve a company’s business procedures, products and services. While there are many advantages to digitization, in addition, it poses a number of complications.

Advantages of digitization

Digitization can improve a company’s internal techniques by eliminating manual tasks and reducing costs through automation. In addition , it can help a company gain new customers or develop its existing customer base.

Disadvantages of digitization

A key pitfall with digitization is the fact that that digital information can be easily revised and wiped. This can lead to errors and misunderstandings.

In addition , a company could become overly dependent on technology. This can cause a losing human skills and decelerate production.

The emergence in the digital financial system has led to a fundamental shift in the manner innovative business models businesses produce and market their products and products. In contrast to traditional industries, which rely on high costs and labor resources for goods and companies, an electronic economy operates with proficiency.

Hence, it is crucial to have a clear vision by what the digitalization of a firm will entail and use it strategically.

The ramifications of digitalization on a firm’s value creation, proposition and capture had been investigated in two one of a kind industries, the media and automotive industry, using qualitative empirical info collected via 12 important informants. A conceptual setting based on dynamic capacities was followed to framework the scientific study (see Figure 1).