Digital transformation is an inevitable force that permeates almost all sectors and functions. While the terms digitization, digitalization, and digital transformation have different connotations, we tend to use them interchangeably, specifically within procurement. It’s critical to understand the nuances of these concepts, so before delving further, let us establish their definitions, first.
Digitization is the process of converting information from an analogue to a digital format. The data is digitized using a scanner, recording, or character recognition.
Digitalization now refers to the use of active digital processes. According to Gartner, digitalization is the process of transferring information from business operations to digital technologies. Automation is important in digitalization because it automates some aspects of the process.
Digital transformation is neither a method nor a project. It is a company’s overall strategy that embraces digital and learning as a result, digitalization and digitization projects, the company of function is engaged in a digital transformation.
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