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Three-quarters of businesses experienced improvement in customer experience post-digitisation
G oodFirms has recently released a new research article titled Digital Business Knowledge . The survey attempts to identify and analyse the current state of digital companies , its key driving factors , opportunities , barriers and future scope of businesses in digitisation . The study also highlights the most significant tools and technologies digital businesses use .
GoodFirms ' survey aims to provide the most valuable insights into business digitisation and its potential in the current market scenario . According to GoodFirms ' survey , about 78.6 % of businesses have reported a complete digital adoption of their businesses and have automated most of the manual work .
According to the research conducted by GoodFirms , the most popular and known digital technologies are Machine Learning ,
Artificial Intelligence , AR / VR , Robotic Process Automation ( RPA ), the Internet of Things ( IoT ), blockchain , 5G , Edge Computing and Quantum Computing .
When asked about key reasons for digitising businesses , 72.8 % of the respondents chose lower operational cost , followed by improved customer satisfaction ( 70 %), quality and sustainability ( 64.2 %), enhanced productivity ( 59.6 %), better decision-making ( 53 %) and increased transparency and visibility ( 50.1 %).
When queried about major benefits achieved by organisations postdigitisation , 72.8 % of respondents said improved customer experience was the major advantage followed by improved business growth ( 69 %), less operational costs ( 54.2 %), employee empowerment ( 48.4 %), improved reach ( 35.7 %), agility ( 27.3 %), etc . These are the major benefits that organisations observed after digitising their businesses .
GoodFirms ' study has also revealed some of the major challenges faced by businesses and entrepreneurs while digitising their businesses . Just over half ( 52.7 %) of the total respondents reported a lack of budget as the key challenge , while 49.3 % responded with a lack of executive support .
Other challenges include a lack of resources , digital business skills , customer focus , IT engagement , BPM skills , weak business skills and complex tools .
While considering top tools used by businesses , digital marketing topped the chart followed by CRM , accounting , HR , social media management , inventory and e-commerce .
GoodFirms concluded that digitisation benefits businesses by promoting automation and allowing them to increase operational efficiency .
Digitisation also reduces the need for human intervention resulting in low operating costs and reducing the chances of error occurrence . �
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DIGITISATION
BENEFITS BUSINESSES BY PROMOTING AUTOMATION AND ALLOWING THEM TO INCREASE OPERATIONAL EFFICIENCY .
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