In a competitive world of business, digitalization has turned into a necessity to get companies to outlive. The digital www.cloudycrowd.net/2021/12/06/4-types-of-innovative-business-models/ industrial wave has changed the ways business is carried out, from advertising products to processing economic transactions plus more. It has likewise impacted the way in which businesses deal with their supply chains, and also their inside processes. Actually it is a major catalyst pertaining to innovation as well as the fourth professional revolution (also known as Sector 4. 0).
But what simply does the term “business digitalization” mean? It is important to understand the difference between digitization and digital transformation. Digitization refers to transforming analog facts and data into digital form. For instance, converting paper documents invoices in to an online file or utilizing a scanner to upload the physical paperwork onto a server will be examples of digitization.
Digitalization is actually a far more in-depth method that transforms the entire business structure and movements towards applying digital operations instead of égal ones. This may include changing every internal processes to a digital workflow, just like overhauling the sales operation for over the internet optimization.
An enterprise that doesn’t make the move to digitalization will lag at the rear of its opponents and eventually lose market share. It can be unable to compete with the new and much better ways of conducting business and could even find itself out of business completely. That is why it’s essential to know very well what the business digitalization implications are really that you can be prepared to adapt to this kind of change and stay in front of your competition.
He is a Commerce Graduate and holds Master degree in Economics and Finance.
He carries exceptional experience in spearheading high-end external audits, forensics engagements and In-Country Value (ICV) certifications. In hand a combined rich experience of more than a decade in audits, investigations, ICV advisories and corporate training. His portfolio contains industries’ experience relating to Oil and Gas, Real Estates, Hospitality, Construction, Consulting and Engineering, Education, FMCG and Non for-profit Organization which contains listed entities and public sector external audit engagements.
He is engaged in corporate trainings relating to IFRSs, ISAs and fraud investigation tools and techniques, hence throughout his career, he has a privilege of speaking on audit and financial reporting matters at both national and international platforms.
He is an approved Mentor of Association of Certified Fraud Examiners (ACFE), USA. He is engaged with different educational Institutes for the provision of professionals' qualifications and is hosting seminars/webinars globally for the audit and accounts fraternity.
He has authoreda book in the name of “IFRS Glimpse (IG)” and has published many articles on IFRSs.
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