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Digitalization in 2022

Digitalization is not just a trend but an obligatory step for modern “smart” business.

Digital technologies rapidly displace analog ones. Telecom can’t be imagined without digitalization; the digit captured the finance, retail, agro, and other fields of technologies and already is processing to so important fields like government, medicine, and education. More than half of the world’s economy will be based on digitalization in 2022.

We see how domestic processes are digitalizing every day. We buy groceries in the store with the help of the digital wallet, pay the bills with the help of mobile banking, and make an appointment with a doctor with the help of the mobile application. Up to 2023, 90% of the world’s organizations will prioritize the investment in digitalization to add digital technology assets to their physical space. The public sector in many countries is already leading in digitalization, and other areas will catch up!

You will no longer need to collect and store information about yourself, your accounts, and transactions in paper form and stand in line at bank branches and hospitals.

Digitalization is about comfort in work and life.

It is a completely different question about what society in the 21st century wants to see and manage its finances. Technologies for the financial sector, Fintech (financial technologies) make it possible to speed up the work of banks and make the industry more transparent and accessible to the user. Lending platforms openly sell their services, where you can no longer see and familiarize yourself with the conditions, the lending and loan issuance system is flexible and written in accessible language.

Technological insights such as Blockchain do not just improve what is already there, but change the world and create from scratch!

When and why does a company need to automate business processes?

It is necessary to start not from the number of employees, but from the complexity of the processes. This applies to management, operational, and support activities.

Automation allows them to speed up, improve, and make them more efficient and fast without losing quality.

To achieve efficient, transparent, and controlled operation, all processes require regular efficiency improvements.

If the process is digitized, then the manager has the opportunity to identify the most effective ways of executing processes or the most effective employees. The analysis will help to establish certain KPIs in the company.

Automation allows to accelerate the launch and promotion of products/services to the market and increases the efficiency of the company in general.

We can see how the processes in the company worked before the restructuring and what effect they got as a result of the reorganization.

The reorganization will help to make a more accurate analysis of business processes in terms of risks, and control procedures and pay special attention to those areas that have either been neglected or require improvement.

Saving business and consumer time and effort, saving money, reducing corruption risks, and improving the business climate are the main results of changes in digital.

Automation is the first step toward a better, more systematic, and more flexible business operation.

In what areas is process automation most needed?

The most active digital user in 2022 are small and medium-sized businesses, discarding a lot of “why” and “what for”, they simplify and improve processes in order to accelerate cash flow.

Successful automation of business processes allows them to be competitive in the market, more profitable, and makes it easier for employees at all levels. Every company wants to achieve these goals.

When it comes to the work of a company with a repetitive decision-making cycle, we can say that it needs to be automated.

Today, in a pandemic, there is a question of assessing the quality (KPI) of the activities of employees who work remotely. And here the sphere is not important, a large government agency or a medium-sized service business, if there are many processes and they are often repeated, then here is the issue of control over execution.

In 2022, most banks around the world are already using mobile banking for Android and iOS smartphones.

The digital economy has affected all industries in one way or another. Agree, it is much more convenient and faster to order your favorite food using the application to your home than to go to the other end of the city for it. As the COVID-19 pandemic worsened, shoppers worldwide spent $900 billion more online in 2020 than in the previous two years, Mastercard analysts said.

Estimates for worldwide digital transformation.

First of all, analysts predict that investments in digitalization will rise to 16.5% per year in 2022-2024 compared to 15.4% in 2019-2021, and by the end of 2024, they will account for 55% of all investments in ICT (information and communication technologies).

In response to the pandemic, most companies and organizations have already accelerated investment in digitalization!

By 2023, one in two companies will generate more than 40% of their revenue from digital products and services, compared to one in three in 2020.

The world is rapidly developing and every day improves the digital experience of each person. Businesses no longer have time to take a frivolous attitude to the global trend, go digital or “go under”.