These three processes all share a common foundation in leveraging technology to improve productivity, efficiency, and decision-making
FinTech BizNews Service
Mumbai, February 8, 2024: In the LinkedIn Blog #PrabhuTalks, Prabhu Elangovan, Assistant Vice President - Protean eGov Technologies, has highlighted that Digitization, digitalization, and digital transformation have both similarities and differences in terms of their unique focus and impact. Below, are the key insights.
Similarities
These three processes all share a common foundation in leveraging technology to improve productivity, efficiency, and decision-making. Here’s how:
Tech-Driven: Tech is the cornerstone. Technological advancements drive all three, whether it’s converting analog to digital data or revamping business models.
Productivity and Efficiency: The ultimate goal of each process is to improve productivity and efficiency.
Leveraging Data: All three processes utilize data to drive decisions and actions.
Differences
While all three processes leverage technology, they differ in scope, impact level, and end goals, specifically:
1Scope:
Digitization focuses on data conversion. Digitalization is about improving processes with digital solutions, while digital transformation is leveraging tech for a total organizational overhaul.
2.Impact Level:
Often, digitization is a task-level change. Digitalization impacts operations processes, whereas digital transformation is a strategic shift.
3.End Goal:
Digitization aims to make data more accessible. Meanwhile, digitalization targets operational efficiency. Digital transformation, on the other hand, aims at complete organizational transformation.
