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Digitalization is the process of transforming information from non-digital formats to digital. It also refers to moving on-site, internal platforms for data storage to internet technology (IT) and cloud-based platforms.

What Small and Midsize Businesses Need to Know About Digitalization

SMBs benefit from digitalization in many ways. For example, instead of generating sales prospects by phone, businesses can use email, text messages, and social media to increase leads or sales without hiring additional employees. Physical storage space can be reduced by scanning images and documents. Increased digitalization can also add security, boost efficiency, and decrease data loss. Moreover, cloud storage can take the weight off data centers or storage units, which lowers costs.