Digitization is the New Black: How and Why Companies can Digitize their Internal Processes?
Hi, I am Katya Kancheva and I am a Business Solution Manager at Comarch Italy, with focus on e-invoicing, EDI and MDM.
Why do we say that digitization is the new black? During the Covid-19 pandemic, we have all seen companies adapting quickly to new ways of operating, working and managing – not only human resources but also internal processes. Customers are among the pushing points. Many of them moved dramatically towards online channels, which forced companies to respond quickly. A 2020 Survey by McKinsey showed that Covid-19 actually accelerated digitization of supply chain processes and internal operations by three to four years. Consequently, these changes will influence companies in the long haul.
One way to address the needs of digitization in your company is having a holistic approach towards information flows – internally, within departments as well as between you and your business partners. Is there any effective way to start this? The answer is ”yes”. The best method to implement changes is to analyze the internal IT systems and their potential improvements. Different ERP systems, outdated processes and lack of harmonization have already pushed many entrepreneurs to search for innovative technological solutions. Let me present some of the available opportunities.
One of the most popular options is EDI, a system created to exchange with your partners different kinds of documents such as orders and shipping notices in a digital way. It is a flexible solution for big companies with a mature infrastructure and smaller ones that are not ready for a full ERP connection but can use EDI to their benefit.
The other option to consider is implementing e-invoicing. This is a solution which helps exchange invoices electronically to support both AP and AR processes in the company, guaranteeing a totally paperless process and quick, error-free work. It’s especially important, taking into consideration the growing number of countries where it is already obligatory to exchange invoices electronically via specific platforms and in specific formats. That’s why it is also extremely important to have a software provider whose solution is compliant with all new, often changing e-invoicing regulations.
Probably most of you have noticed the latest growth of e-commerce. This trend also brought attention to products such as master data management applications and online distribution reporting platforms, with a focus on omnichannel convergence and reaching unified commerce. Such solutions can help you manage your product portfolio in online stores, and to analyze sell-out data from your distributors and wholesalers to final points of sale. From a technical point of view, it is only natural for stores to provide integrations as the need for homogenic data exchange processes that brings advantages in terms of sales, costs, time and logistics, is only growing.
This is the invitation to an interesting journey into data exchange and document management. We are here to explore the world of benefits that innovative technology brings to these processes. Stay tuned for more vlogs.
In the meantime, if you’d like to talk about the best solution for your company, don’t hesitate to contact me at Katya.Kancheva@comarch.com.
