What is digitization? Discover its advantages for your company
We live in a world in which the difference between a company that grows and is successful and another that fails or fails to grow, derives mainly from talent, the quality of its product or service, and the quality and speed of management. It is not a surprise, therefore, that a technological startup, which uses technology in each and every one of the areas of the company, can make decisions faster, requires less personnel to operate, and has the best information available from anywhere and at any time. any time, it works better than other companies and is capable of growing at rates that other companies cannot. As CEO or director of your company, you should consider what digitization is, and how it can benefit your business. More agile processes, less bureaucracy, more informed decisions, greater happiness for your employees… All of them are the tremendous benefits of applying technology to your company.
If you are wanting to find out about what digitalization is, continue reading. This article is for you!
What is digitization
So what is digitization? Digitization consists of the digital transformation of your business through the use of cutting-edge technologies in each and every one of the areas of the company, from management, to operation, manufacturing or sales. Nowadays, there is possibly a software for each of the company’s tasks, even those that you can’t even imagine.
Advantages of digitizing your business
Localizable in the cloud
Today’s software is no longer what it used to be. Before they were installed on a computer or device, and had to be installed on all the computers in the company. That is a thing of the past, today software platforms are in the cloud, and you only need an internet connection to be able to connect to them.
Accessible from anywhere in the world
This ease of connection, due to the fact that these technologies are located in the cloud, therefore allows its users to connect from anywhere in the world. You don’t need a specific computer. This is one of the advantages of new technologies, they are global, and therefore accessible from anywhere in the world with just one credential.
Linked to the previous points, being in the cloud, multiple users can simultaneously connect to this type of platform. This allows several users to interact at the same time, collaborate with each other, and be able to use the platform at the same time.
Security is one of the most important areas in the technology sector, and having cloud systems with a good technology provider guarantees systems with a high level of protection.
Elimination of manual tasks
One of the main advantages of new technologies is to eliminate bureaucracy, manual tasks, paper. In short, modernizing task management by digitizing it and creating one-click processes in areas where previously the same task or process could take hours to complete.
Elimination of human errors
Digitization and the elimination of manual tasks, results in an elimination of human errors. These are those derived from human interaction. That is, for example, when making a payment, when a person enters the amount of an invoice in the bank, the risk of error is very high. For this it is better to rely on technology.
Digitization saves time. A process that could previously take hours can be done in a few minutes. This advantage is obvious. Nobody likes wasting time on bureaucratic processes and tasks when they can do it faster.
Greater focus on high value-added tasks
In short, what digitalization allows by eliminating manual tasks, manual errors, and saving time, is allowing professionals to dedicate themselves to management and added value tasks instead of wasting hours fixing problems, fixing errors, and doing bureaucratic paperwork.
How can you digitize your business?
Today, each company is a world. Depending on the type, size, sector, or clients to which it is directed, the company will have some needs or others around digitization. However, currently, in a minimal way, a company should digitize the following pillars of the company, at a minimum. If you are an entrepreneur of a company, or you are part of the financial team, and you are beginning to learn about what digitization is, in order to begin a digital transformation process, you should take into account the following pillars:
What is an accounting ERP:
What is an ERP? As we explained in a previous article that you can find here, the ERP refers to the company’s accounting software. Currently, accounting software is usually the first pillar that a company focuses on when it begins to inquire about what digitization is. As we say, ERP software is the system used to keep a company’s accounting, and we could say that most companies today already have one of these systems. Among the most common accounting systems, we can find Netsuite, Microsoft Dynamics, Sage, or Odoo among others.
Treasury and payments software
Payment and treasury software is the ideal complement to accounting software. Until now, this type of software has been more unknown, but a new wave of innovation in this sector is giving rise to the appearance of payment and treasury management software such as Snab. It is an ideal complement because it focuses more on the branch of treasury management and does not hinder the use of the accounting system. The mission of this type of software is to facilitate bank aggregation and consolidation and facilitate the invoice payment process, eliminating manual processes, among others. Today, having top-notch payment and treasury software like Snab is considered vital to help take your business to the next level.
Human resources management software
In recent years there has been a boom in new human resource management systems. Today, it is commonly accepted by almost all the personnel dedicated to this field that the sector had little digitization. That is why, in the last 3 or 4 years we have been able to see the irruption of various human resources software that digitizes the document management of human resources, contracts, etc. In addition, they allow you to monitor employee vacations, holidays, “performance reviews” and even support the hiring of personnel. We currently consider that from an adequate company size it would be necessary to have software of this type. Therefore, as a director of human resources, you should also be informing yourself about what the digitization of this sector is and how it can affect your company. In the field of human resources, we could find factorial HR, sesame, or personio among others.
Digital signature software is perhaps one of the sectors that went digital before. As you can imagine, paper signatures are a thing of the past, and most people are used to signing documents of all kinds, contracts and job offers among others in their day to day. We believe that today it is essential to have software of this type to facilitate the day to day of the company. Within this area, two of the most famous companies in this area would be Signaturit or Docusign.
Other softwares for sales, marketing or techology…
Finally, we will mention that there is currently software that allows the digitization of almost all areas of the company. From sales, to marketing or technology. All these software systems make it possible to digitize most areas of the company, and we consider that it is essential to have systems of this type to improve the efficiency of companies.
Snab as a digitalization and automation tool for payments, collections and treasury management
Snab is a new cloud treasury platform in Europe that helps finance and treasury teams in each and every one of the functions and tasks related to treasury management and monitoring of the company’s cash position, in the management of payments, in the management of collections and in the management of suppliers and clients respectively. It is the quintessential treasury digitization tool. Snab helps finance teams, therefore, by enabling greater visibility and control of treasury. Snab serves as a banking aggregation platform, allowing companies to access all their bank accounts in different banks and in different countries from a single place and with absolute independence, so that the financial team can access their situation in a few clicks of cash and thus obtain the necessary information to calculate the available and realizable assets of the company. Snab also serves as a billing tool, that is, it automates the entire invoice receipt, scanning, and automatic recording process, and also serves as a payment and collection management tool, providing full control and visibility to the functions of accounts payable and receivable. The platform has pioneering technology in Europe that allows you to pay and collect invoices in one click, from Snab, without having to leave the platform. Digitize your business with Snab.