| |April 20189CIOReviewSuch sources are becoming increasingly scalable as the world moves from long-range planning to the real-time always connected version.It is important for companies to leverage their existing digital and mobile services to support business. For instance, banks should focus on digitization to deliver online payroll and mobile fund transfer/remittances. Telecom companies should focus on digitization to provide digital tele and video conferencing services. Entrepreneurs who depend on remote collaborations between various stakeholders should integrate freeware such as Google Documents for better project management. Implementing modern technologies to improve procedures and communication will certainly lead to a tangible upsurge in a company's competency.However, organizations also need to be cautious to avoid trying to fit too much technology into current processes when taking the digital leap. Instead, they need toutilize their foresight and agility to create new work processes that are in sync with their digital services.Digitization is not a choice anymore. To gain a competitive edge and to sustain this edge in the market, it has become crucial for organizations to keep themselves updated. Effective digitization efforts always start by planning for the future of each procedure without considering existing limitations. For example, compressing a process turnaround time from days into minutes like one of the most significant steps towards digitization of HR industry could be Paperless onboarding for faster turnaround time in hiring potential talent. Once a persuasive expectation has been defined, previous limitations can be revisited in a new light. The digital revolution across businesses has begun to steadily steer a quicklyevolving business environment that offers augmenting opportunities for innovativeproficiencies and initiatives. Organizational agility has become a must-have key factor in achieving success in this digital era. Businesses that embrace digitization are emerging as leaders in an intensely competitive scenario by gaining strengths in diverse domains such as manufacturing, supply chain, compliance and more. It is also vitally important for organizations to handle the many security risks that are introduced by digitization and its effecton the present ecosystem to drive ideal value from their digital initiatives. Despite all the challenges and risks involved, organizations cannot afford to ignore the opportunities that the digital era provides along with the profound impactthat it can deliver. Businesses that embrace digitization are emerging as leaders in an intensely competitive scenario by gaining strengths in diverse domainsGuruprasad Srinivasan
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