What is Digitalization?
Digitalization is the process of leveraging digital technologies to transform a business model, creating new revenue streams and value-producing opportunities. This involves integrating digital tools and systems into various aspects of a business’s operations, from management and communication to production and customer service.
In today’s competitive landscape, digitalization has become essential for businesses to stay relevant and thrive. It enables organizations to adapt to rapidly changing market conditions, meet customer expectations, and optimize their processes for greater efficiency and productivity.
Using digitized information, digitalization is the process of making workflows and processes easier and more efficient. Especially in today’s tech-driven world, it is crucial to adopt a digital culture in order to survive and succeed.
According to the results of a survey conducted among commercial real estate C-suite executives worldwide, it appeared that a large percentage of commercial real estate firms worldwide still have a long way to go with digitalization. Approximately one in three respondents surveyed in 2020 shared that their company does not have the resources and skills required to operate a digitally transformed business. Nevertheless, approximately 43 percent of respondents said that digital experience is a core competency of their organization.