Digitising. Digitalising. These buzzwords are often misused when businesses embark on their digital transformation journey. This 3-letter difference in spelling between these words has contrasting meaning in business transformation methodologies.
Digitising is the process of converting analogue data into digital form. Regardless of format, having a digital copy of the data increases the accessibility and operational efficiency when using that data.
Digitalisation is the process of leveraging the above-mentioned digitalisation to improve processes. The objective is to co-create innovative and novel business solutions by implementing technology. Digitalising has a positive impact on the company whereas Digitising only refers to a process which is inconsequential of the impact.
Problem: Data Duplication
We at Doxa holdings creates many business solutions, but the solutions target one root integral problem; data duplication. Data duplication refers to the process of creation of an exact copy of data on a different medium.
Here is what a typical procurement workflow looks like. Buyer sends an order to the seller using a Purchase Order, the seller delivers the order to the buyer issuing a Delivery Order and the buyer pays the seller when they see an Invoice.
Looks simple right? The complication occurs when both the buyer and sellers use different accounting, inventory management and enterprise resource planning systems. Every time the parties interact and transfer data, they will export it in pdf format before sending. The counterparty must then manually key in the data into their system and the process repeats itself.
Manual data entry gives rise to human errors resulting in negative repercussions on the company’s bottom line. Due to the duplication, there is no single origin of truth, the parties may have disputes based on the data that they are handling. Research by Gartner states that organisations that promote data sharing outperform their peers on most business value metrics. There is the incentive to share data instead of duplicating it.