Table of Content

• What is Digitalisation?
• Top 6 benefits of  digitalisation
• The transformation

What is Digitalisation?

Digitalisation is the process of converting physical documents or information into a digital form. From storing documents, online-backups, workflow and document management to remote working.

It is a more in-depth transformation as digitization of business leads it towards a more digital workplace. This is more than just the absence of paper, for most organizations this can also mean remote working especially on the recent years of Covid.

What are the top 6 benefits of digitalisation?

• Reduced operational costs

By digitalizing your work, you will spend lesser on material, storage and operational fee.

You will require less work space to run the company by saving all the data and information in a cloud.

• Increased efficiency of all operations – Less manual work

Your employees can free up their time looking for documents dated back from 10 years ago!
Operations can spend a minute to search for the document just by typing in the year and name of document they are looking for, this increases the efficiency as compared to manually looking through 10 years worth of files.

• Fewer human errors

With the system in place, company can expect fewer human error when keying in data because of automation of formulas that are present in softwares like Microsoft excel or Google excel.

Google excel is also a cloud database that allows you to store company data and information.

• Safer and clearer dashboard with critical information

Softwares and systems now allows employees to have an overview of dashboard, analytics and information that is critical for the well-being of the company without having to look through individual files.

• Control over cash flowFinance and employees can now have an overview of the cashflow of the company with digitalized tools and systems. This allows employee to make informed decision to control the cash flow within the company.

• Enables data analysis and data-informed decision making

Data analysis is made easier with the clear dashboard and information enabling employees to make important decision that can be critical for the company.

As we progress through the years with the implementation of digital technologies into workspace and our daily lives, workflows are becoming streamlined into systems and clouds resulting in fewer human errors. All operations are also executed efficiently thanks to these streamlined workflows which enable businesses to reduce operational costs. 

Most companies are storing their data in cloud databases to reduce the usage of storage space and work more efficiently, it is almost impossible to picture a great number of companies not using cloud storage. 

Cloud computing giants such as 3M, Microsoft, and Google offer high-security cloud services, enabling careless digital asset management. 

Tools such as Google Analytics have become a very important tool for data analysis. Of course, there is a huge number of high-quality data analysis tools available, but to keep it simple, let’s just use Google Analytics as an example for now. 

Without digital technologies or systems, we wouldn’t be able to achieve the structured data analysis for our company.

The transformation

Get your accounting records ready for the transformation! The process of digitalisation will take awhile depending on the amount of records and type of records your company has. To start, your accounts management agency will be retrieving accounting records and information from you and email you the management accounts (i.e. Trial Balance, Profit and Loss account & Balance Sheet) for your company to review and certify.

This will be a seamless process if you have all the information ready, in no time, you can experience an increase in efficiency for your work, allowing you to save on office space and reduce operational costs.