3 Reasons Why You Should Digitalise Your Business

In this increasingly technology-focused world, the demand for businesses to digitalise has grown drastically. The COVID-19 pandemic has pushed digitalisation even further as more consumers shift their shopping habits online. As a result, e-commerce businesses are booming globally. If your business isn’t adapting to offer more digital services, you could be missing out on massive business growth opportunities. Let’s take a look at what it means to digitalise your business and why you should do it.

What does it mean to digitalise your business?

Essentially, digitalising your business means incorporating technology into your business operations to increase efficiency, enhance customer experience, and boost sales. This can be manifested in many ways including selling your products on an e-commerce platform, offering online payment options, developing your own mobile app, and more. 

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The approach to digitalisation varies from one business to another depending on each business’s needs and goals. A traditional brick-and-mortar restaurant, for example, can start its digitalising journey by getting itself into a food delivery marketplace such as GrabFood and FoodPanda. For businesses that are still recording transactions manually, they can go digital by shifting to the new-era cash register machine for their point-of-sale system.

An aesthetic clinic that operates fully offline, on the other hand, can transition into digitalisation by adding an online booking feature for customers to book their appointments without having to call in. As you can see, there are many ways you can digitalise your business. If you are not yet convinced that digitalising your business is the way forward, here are 5 pros of going digital. 

Why you should digitalise your business?

1) Save money and increase efficiency

Manual storage and documentation are time-consuming. You will need a dedicated team to take care of the nitty-gritty and supervisors to monitor their work. It also opens room for human error as the work is done manually.

When you factor in small details such as the space you need to store those business documents offline, and the cost that comes with it, the time your people spend to record manual bills and transfer them into a company’s ledger, among others, manual labour may be a lot costlier in the long run.

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Why spend more penny when you can choose something more cost-and-time effective by going digital? From online point-of-sale systems, inventory management to human resources systems, there are tens of thousands digital tools you can adopt to help streamline your business operations. 

2) Enhance customer experience

In this digital age, every business could benefit from having their business online. Many customers prefer the convenience and ease of online transactions and more and more businesses are catering to it. Not tapping into that could hurt your business as you lose out to your competitors who have already implemented digital strategy into their business.

Whether it’s listing your product on e-commerce platforms such as Shopee and Lazada, selling your services via an online marketplace, integrating a booking system in your website, or building an e-commerce website for your own business, digitalising your business makes it more accessible to customers. This, in turn, creates a positive and enhanced customer experience.

3) Boost sales

In terms of sales, digitalising your business means applying technological tools to unlock new sales opportunities. By applying the right combination of digital tools, analytics, and seamless customer experience throughout the sales process, businesses can increase sales and profits. 

For instance, digitalisation allows more room for customers to initiate the purchasing journey at any given time of the day without being restricted to your business’s operation hours. It’s like having your shop open 24 hours a day. This is not only convenient for your customers but is also good for your business. It’s a win-win game. 

Digitalise your business today!

With more and more customers looking online for their goods and services, digitalising your business is no longer an option but a must if you don’t want to lose out to your competitors. 

If you are short of funds to integrate digitalisation into your business, connect with us! Our award-winning ethical crowdfunding platforms enable businesses to raise funds via equity crowdfunding and P2P lending. Learn more at ethis.co for businesses based in Malaysia/Indonesia or EthisX if your business is outside of these two countries.