MORGEN Glossary

Digitization

Digitalization is a crucial process that involves the use of digital technologies to change business models, open up new revenue streams and create additional value for customers. It is a comprehensive transformation that involves not only technology, but also culture, business processes and strategic thinking. Through digitalization, companies can become more efficient and responsive by automating manual processes, enabling better customer experiences and making data-driven decisions. The process also enables new business models such as on-demand services, digital platforms and innovative products and services. Despite potential challenges, digitalization offers significant opportunities for companies in all industries to remain competitive in the digital age.