To begin with, let’s address the difference between digitisation and digitalisation. Digitisation refers to when physical documents or paperwork are converted into digital documents. Digitalisation on the other hand refers to a substantial transformation of the business model toward using digital processes. A simple example would be that of a business changing the processing of financial documents to a digital way of doing it.
Digitalisation is about embracing the use of technology in the processes of business operations as well as the interaction with clients, and stakeholders alike. A coherent digitalisation entails more than buying software and implementing it. This capital expenditure is a worthy investment which instantly reflects upon your business operations. It involves a flow of understanding across the organisation to help you optimise processes according to your needs, your employees' needs as well as your client’s needs. This would help benefit all parts involved as well as increase efficiency.
Efficiency, comfort and reliability are just a few of the benefits of a digitalised business model. While they are all benefits which any entrepreneur aspiring for success thrives to achieve, we understand common concerns which tend to be shared among anyone who is considering a change, such as where do I start from? Can I switch to a more efficient system different to the one I’m currently using? What are the costs involved? Let’s address these questions one at a time.
Where do I start from?
Start from what you know best… your business. There is no one better than you who knows what challenges your business is facing which is a key point to establish an understanding of the situation and develop a plan addressing these challenges. The next step to take is to reach out to specialists who will listen, anlayse and consult accordingly. Specialists will not only advice but will also walk you through the process which best fits your needs, ensure that everyone in the organisation is on board through adequate training, and help you take the leap safely through the necessary support. In essence, just think of your business and we’ll think of solutions, because your business is our business.
The system I am using is not efficient enough, can I switch?
Wherever you find yourself throughout your business journey, it’s never too late to start on point. Perhaps as your business operations are growing, you became aware of an increasing need to facilitate communication and work flow across your growing team. Perhaps the system you were using before is not scalable and while you are thrilled to have come to this point of growth, you are also aware of the need to implement a scalable system which is able to pace with your rate of growth. Whichever your situation is, it is always the right time to reach out to specialists who will understand your needs, analyse your case and advice accordingly. All you need to do is reach out!
What are the costs involved?
One of the benefits of the digitalisation process is the flexibility and adaptability according to the client’s needs. Keeping in mind the clients' scenario, prices might depend on the software solution, the amount of users, as well as training and support provided. Nonetheless, it would be a pity for anyone in the industry to miss the boat of digitalisation due to financial concerns. In light of the growing importance of integrating technology in business operations, various funding schemes have been launched, one of which allows for up to €200,000 for Digital Technology Investment in your Business. We not only can help you with ensuring safe and good practice for compliance, accounting and efficient team management systems, but we can also assist you with making the most out of your experience through the available funding schemes. When there’s a will there’s a way and we feel the responsibility to share the ways to help you help yourself.
Available Funding Schemes
The SME Digitalisation Grant Scheme supports the enterprise investment in digital technologies and related processes including hardware, software, and digital solutions facilitating efficiency, and customer experience.
The Diversification and Innovation Grant Scheme supports and finances productive investment including the costs related to purchasing of equipment and machinery. This grant scheme also covers intangible costs.
For further information, get in touch with On Point Malta - Accounting, Business & ERP Software Company or contact On Point on +356 2722 0597/ +356 7906 5343