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CIS8011 Business Research Report
1. How digital transformation for the news paper industry systems are utilised in other organisations and what are the risks
ABC Digital solutions limitedprovides technological services like data transcription, capturing data and analysis tools etc. to the Newspaper Industry. In the newspaper industry, the information is digitalized and shared on various sources like websites, internet applications etc. to promote the shareholder’s interest. Through these sources, the digital information can be updated and analysed. Just like newspapers industry, digital transformation is also used in other industries(Weaterman, Bonnet, McAfee, 2014).
Digitisation of print media had not only effected and modernised the news paper industry but several other industries as well namely the accounting, taxation and other entrepreneurial service providing industries like KPMG, Delloit and Genpact who indeed had modernised there system to a completely paper less environment friendly system with greater efficiency of data collection and processing them At a much higher speed with accuracy and thus creating Green Accounting system and reducing the Green Accounting Cost.
And indeed generates greater revenue by increasing the reach of the service provider as through digitisation the movement of physical documents are not required leading to reduction of processing time and saves cost.
This concept of digitisation had also been followed by the various banks and financial institutions which have digitised there various functions such as the process of cheques clearing by the way of truncating them leading to stopping of further physical movement of cheques.
There are few limitations associated with digitization in other industries. These may be:
- High risk of spam: Spam is the useless messages or emails which may contain viruses. Spam messages consume the system memory and its viruses can affect the computer systems.
- Data integrity can be challenged: Confidentiality and security of the important data could be at risk. Hackers may hake the account and misuse the information.
- Not suitable for small industries: Digitisation is an expensive procedure which may not be afforded by the small industries.
2. What experiences are gained by other companies in using digital transformation for the news paper industry systems
Digitization of the business process is highly followed and capitalised by the newspaper industry but this digitization process readily grabbed the attention of other business units for their business processes namely R2R (Record to report), P2P(procurement to payment) and O2C (order to cash) processes which in turn lead to higher process efficiency and output.
Just like newspaper industries, it is important for the ABC digital to understand the needs, demands and preferences of the consumers. The payment system can be easily transformed in digital systems by gaining the knowledge from the newspaper applications and websites. By understanding the e-process and digital process of newspaper industries, the other industries can learn how to develop and implement the e-business platform(DuBravac, 2015). The testing, controlling and security aspects related to digital transformations in various industries have been understood and learned by following the transformation system of the newspaper industry. With such practices, the retailers can also use the advanced communication system to manage and fulfil the consumer’s demand, and requirement of many stakeholders. With the help of digitization, many other industries can be benefitted and increases their revenues and market share.
Likely as the digitization of the newspaper industry, the other service providing industry such as Thomas Cook and Burberry also uses the digitized processes for providing their services. For example; the Operating concern like Burberry follows the online shopping, order-booking and payment receiving and refund facility to their customers and also to the suppliers of material through an online system tailor made for them. The other organizations have also experienced the efficiency of digital transformation system which saves time, money and efforts(Office, 2015).
3. What are the advantages and disadvantages of using a digital transformation for the news paper industry concept in ABC Digital Solutions Limited?
The concept of digitization has been widely used in the newspaper industry. With the success of digital information in newspaper industry, other industries have also started using digital transformation. But it has many advantages and disadvantages. Advantages of digital transformation in ABC Digital Solutions Limited are:
- It saves time and reduces the processing time and efforts.
- Communication becomes more effective.
- It also safes money and other transaction cost.
- Information can be shared with millions of people on a single website.
- Digital transformation makes the processes faster and accurate.
- It makes the process easy and convenient for the consumer. For example: Burberry provides online services which allow the consumers to shop online from their homes which provide the convenience to the consumers(Uhl, Gollenia, 2014).
Along with advantages, the digital transformation can provide few disadvantages as well which may be:
- If the ABC Digital solutions uses the same processes used by the newspaper industry, then it may negative impact on the business as same concept cannot be applied in each organization.
- The security and monitoring of payments and other transactions could be hampered as it is not possible to secure each and every transaction.
- The installation of digital system is very expensive which could increase the capital cost and maintenance cost of the ABC Digital Solutions ltd.
- It requires more human resource skilled in digitization. Recruitment, selection and maintenance of extra staff increase the expenses.
- The digital transformation can affect the core concept or business expertise of the organization(Uhl, Gollenia, 2014).
4. The scope to which you recommend ABC Digital Solutions ltd. to utilise digital transformation for the news paper industry systems concept
Newspaper industry has utilized the digital transformation very well. It has provided e-newspapers, e-letters etc. to the consumers. Digital transformation by the newspaper industry has resulted in the reduction of cost for the consumers, ease f reading the newspaper (while travelling) and protecting the environment. Paperless transactions and functions secure the environment form undue damages and exploitation. Similar to newspaper industries, other industries have also started using the digital transformation because of its wide scope and advantages.
As far as ABC digital solutions ltd is concerned, the company can take benefits from several digital concepts like e-learning and digital library which helps in sharing the information and utilizing the unlimited data or information available at digital library. The digital transformation has a wider scope in terms of:
- Ubiquitous: The internet is everywhere. Internet provides unlimited information related to almost every subject and object. Internet helps in carrying out the digital transformation system. DT provides various facilities to the organizations like cloud computing, expert systems, search engines, business intelligence system and many more (Brownlow, 2011).
- Transnational: Digital information can be provided in multi languages to the customers available around the world. It increases the company’s profits and demand among the consumers.
- Customizable: Digital transformation has one of the greatest scopes that is it can be customized as per the requirement of the target market, customers and current situations prevailing in the market.
In newspaper industry, the news and other updates are regularly shared and updated. In the same way, the IT operations, policies, new systems and other information can be shared with employees, customer, government etc. on networking systems. The implementation of digital transformation in ABC digital solutions will ensure more effective control and monitoring of all the services and activities provided by the organization. With the digital transformation concepts like digital marketing, the needs of the customers can be identifies and fulfilled by the organization.
5. The infrastructure required to realise such a concept
Digital transformation needs a well designed structure, proper planning and resources for its implementation. In today’s time, to deliver the new functions and services, the transformation should be a regular process. Organizations should focus on several aspects for the Digital transformation like:
- Manage hybrid target architecture with very different platforms: The digital transformation can be maintained only if the organization has high-level standards and architecture in special fields like cyber security and maintenance. Without these facilities, the transformation will be slow and ineffective.
- Build a new organization and governance model in parallel with the new technology: When the digital transformation is going to happen in the organization, the partnership between the IT work and business activities need to maintain as both the activities will work together in an integrated way(Bossert, Ip, Laartz, 2014).
- Change mind sets: In order to implement any change or innovation, it is important to communicate the changes to the staff and motivate them to adopt these changes. Changing the architecture requires management attention and consent, hence changing the mind set is very important.
- Easy process configuration: The organization must develop easy systems with the help of IT developer which can be easily accessed by the consumers. It should allow the consumers to avoidthe unnecessary steps without using the time consuming codes.
6. Best-practice for how this concept should be managed.
There are few practices which are essential and required for the implementation of digital transformation in the ABC Digital Solutions Ltd. To have the effective outcomes and results, it is important for the organizations to develop the effective tools and systems by using the updated technology (Rezaul, 2012). Mobile applications are also one of the effective practices as it allows the consumers an easy access to various services.
Management practices must also be included in the system as it controls and manage the functions of the business. It is also important for the organizations to understand that only the most important processes must be digitized so that the core services can remain intact. The digital transformation provides fruitful results and efficient process which increases the customer satisfaction. Digitization is also very effective in promotions and publicity of the organizations like ABC Digital solutions ltd. All these factors and practices have been considered as best practices to implement and manage the digital transformation system in the ABC digital solutions ltd.
- Brownlow, M. (2011). Email and webmail statistics. Email Marketing Reports.
- Bossert, O., Ip, C., &Laartz, J. (2014). A two-speed IT architecture for the digital enterprise. [Online]. Available from: http://www.mckinsey.com/insights/business_technology/a_two_speed_it_architecturefor_the_digital_enterprise
- DuBravac, S. (2015). Digital Destiny: How the New Age of Data Will Transform the Way We Work, Live, and Communicate.Regnery Publishing.
- Office, P. (2015). Acknowledgement to Reviewers of Processes in 2014. Processes, 3(1), pp.23-24.
- Uhl, A., Gollenia, L.A. (2014). Digital Enterprise Transformation: A Business-Driven Approach to Leveraging Innovative IT. Gower Publishing, Ltd.
- Rezaul, K. (2012). Strategic and pragmatic e-business. Hershey, Pa.: IGI Global.
- Weaterman, G., Bonnet, D., McAfee, A. (2014).Leading Digital: Turning Technology into Business Transformation. Harvard Business Review Press.