India ranks second for having the largest number of FinTech companies globally with the United...
In today’s world, everything has become digitalized. Customers are demanding from companies in many industries a radical overhaul of business processes. The feature of digitalization like:
The experience of digitalization is a superior user experience. However, digitalization also works in favor of business person if used in a right way as it will help in offering more competitive prices because of the reason like lower cost, better operational control & fewer risks.
To meet the demands of their customer all the business are trying to accelerate the digitization of their business process. Digitization often requires that old wisdom is combined with new skills.
Digitalisation is an integration of digital technologies into everyday life. In simple words, it can be said to be computerization of systems and jobs for better ease and accessibility.
It is a use of technologies and data to create revenue, improve business, transform the business process and create an environment for digital business. It is a process of converting information into digital format.
SWOT stands for strength weakness opportunities and threats. Applying SWOT to the business plan:
Strength is the internal characteristics. The strength of digitalization can be:
The Government of India is also making continuous efforts to make digitalization a successful plan. For that Government of India has launched a campaign DIGITAL INDIA. The main aim of this campaign is to ensure that the Government service is made available to all the citizens by improved online infrastructure. Digital India consists of three core component:
The concept of Digitalization will create an enormous opportunity for IT Companies. At present also there are not a large number of competitors so there is a lot of scope for success. The new generation is ready to adopt Technology Enhanced Learning. Research excellence in complementary topics like intelligent information management. Positive GDP growth forecast in economies.