Digital Business: Digitization of companies in the financial area

Jan 27, 2021 | Invoice Management

Digital transformation is driving business innovation in many industries, such as accounting and finance. Among many other things, the process towards a digital enterprise involves upgrading technology, processes and the communication portals and processes. Digitalization and innovation in business require strategic investments by companies that translate into higher revenues and stable and sustainable results in the long term.

What is a digital company?

A digital company creates differential value, optimal customer experiences and optimizes the company's internal capabilities and resources through technology. When we think of the concept of a digital company, the first thing that comes to mind is a digital marketing, communication or e-commerce company; however, document digitalization companies have been at the forefront of this digital transformation process in recent years. But, what is digital transformation in companies?

Digital transformation is a process by which companies incorporate these cutting-edge technologies with a special focus on optimizing business processes, improving the company's competitiveness and offering added value to customers. In the wake of COVID-19 , companies have been forced to initiate this transformation in record time. During its development, the automation and digitization of accounting and financial processes are a determining point for the success of digitization in any company in any sector.

7 Characteristics of a digital business

The main characteristics of any digital company are the following:

  • Digitized internal processes: Teleworking, digital documents, video calls, electronic signatures... the digitization of all those processes in which manual tasks are reduced to a minimum and in which the interaction of people is done based on workflow tools.
  • Online presence: The showcase of any digital company today is both its website and its social networks, therefore, they have become essential for the digital transformation of companies.
  • Total focus on the client: The constant interaction between companies and the customer happens more often than before. Customer's relationship with a company, before, during, and after the purchase, is so critical that it has become a decisive factor, sometimes more when choosing a supplier than price. In addition to the consumer's knowledge, the possibilities for improving the user experience are immense.
  • Information is power: As we mentioned before, there are multiple interactions with the consumer or potential client (clicks, posts, comments, visits, contact forms, etc) and, precisely, from these actions, we have the possibility to capture, measure and analyze a lot of information about the behavior and characteristics of the consumer or market, among other things.
  • Interaction with the customer: The way in which the interaction or exchange of information with the customer is carried out is decisive for a digital company. easyap makes available to customers a customized system to centralize and electronic invoice issuing portal The easyap provides customers with a customized system to centralize and optimize communications, document exchange, management of company invoicing and corresponding customer operations.
  • Interaction with suppliers: With the help of new technologies, every company can benefit from fast, efficient and optimized communication with its suppliers. During the course of the digitization process, special emphasis is placed on this feature in the first steps of the process. At easyap, we provide our customers with an supplier invoice workflow with the main objective of achieving convenient, agile and simple communication for both our customers and their suppliers.
  • Web security: An essential feature for every company in the process of digitalization. From personnel policies to access and store company data, use digital technologies and treat customer information in addition to cloud-based backup systems and secure software and payment systems.
digital-company

Digital Business | Digital Transformation in the financial area

Digitization of companies in the financial area

The transition from traditional to digital business has become the priority of managers to achieve greater flexibility and adaptability of companies in an environment marked by uncertainty. But, are we ready for the new digital era? Financial teams have found themselves between the devil and the deep blue sea in the face of this digitization process, as traditional forms of planning and operations in the accounting and financial area have become obsolete.

The existence of efficient and optimized digital methods for the management of personnel, customers, suppliers, operations and digitization of documents is already a reality. In the same way that fintech companies have revolutionized the banking sector in recent years with the development of new payment methods or alternative capital markets, accounting automation companies have become the essential partner for any company in the process of digitization.

This process of digital transformation in companies is led by a growing trend towards accounting outsourcing and automation of financial processes of companies with results such as: reduction of operating costs, increased control and accessibility to documents and mitigation of risks outside the operation of our core business. Calculate these potential savings The main incentive for companies in the process of digitization is to be aware of the increase in efficiency that this entails.

For more than 20 yearseasyap has been working with an innovative and digital approach, providing a unique tool for the management and optimization of electronic invoicing processes. The transition to the digital company is a reality and at easyap we want to accompany you in the process and make it possible. Contact with us here .

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