26 Feb 5 Reasons Why You Need to Start Business Digitalisation Right Now.
Almost a decade ago, Best Buy was on the brink of death.
A fresh digital rehaul later, the American consumer electronics retailer has since seen their stock price grow almost 200%, earning its place back in the hearts of the public.
Digitalisation isn’t an overnight process, but it’s even more crucial than before that businesses find it in themselves to make the switch – here’s why.
What is business digitalisation in Malaysia?
Business digitalisation simply means implementing technology into the way you do business.
Whether that means weaving new software into your operational processes, or using data as a basis for decision-making – what digitalisation looks like for each and every business differs greatly across the board.
5 reasons why your business needs to go digital.
- You’ll be better poised to face emergencies
- You get to regain the time you wasted
- You’ll be doing your part for the environment
- Your employees will thank you for it
- You’ll be able to take your business to the next level
1. You’ll be better poised to face emergencies.
Perhaps the biggest wake up call for many SMEs came when Covid-19 first hit Malaysian shores. Businesses from every sector were forced to adapt to the digital market in one way or another.
As for those who already had their feet in? They were that much more likely to pull through.
Within the first week of MCO, 70% of SMEs reported a 50% drop in business.
On the flipside – online shopping increased by 53%, online grocery shopping by 144%, and online food deliveries by 61%.
2. You get to regain time wasted.
Productivity and efficiency are oft-cited benefits of digitalisation. Small businesses however, may fail to understand the extent of just what that means.
To lag behind in productivity doesn’t just mean wasted time. It also means additional manpower, extra effort, wasted resources, unnecessary costs – and opportunity for progress hindered by all the inefficiencies.
3. You’ll be doing your part for the environment.
Given the large scale that most businesses operate in, your carbon footprint might be bigger than you realise.
Senheng for example, first embarked on their journey to going paperless in 2015. Aside from the obvious “green” benefits, the company has also seen enhanced efficiency, reduced cost and less need for storage space.
4. Your employees will thank you for it.
Digitising your business also means digitising your workforce.
While the transition may be foreign at first, you’ll ultimately be growing your employees alongside the company to better conform with the digital direction the world is headed in.
Introducing digitised solutions will also take some of the mundane work off of their shoulders (and yours!), leaving everyone more time to do work that really matters.
5. You can take your business to the next level.
Old ways won’t open new doors. If you’re letting your business get pulled behind, it won’t be long before you find yourself left in the dirt as SMEs fight to boost our digital economy.
If you’re confused and don’t know where to start implementing the right solutions, our digital transformation solutions are able to empower Malaysian businesses from every aspect – from logistics to inventory management to sales. Get in touch with us here!