Growing businesses have little to lose and a lot to gain by digitalizing their operations

Owners and executives of small- and- medium-sized businesses (SMBs) spend a lot of energy keeping their daily operations running. Unsurprisingly, many such professionals say they don't have time to think about business digitalization. But that could be a big missed opportunity.

At Ricoh, we know it can be tough to pull away from the day-to-day hustle of business to take a long-term view of your options. That’s why we’ve put together this guide to show how upgrading a growing company from analog resources to digital systems can save time, effort, and money.

What is business digitalization?

Digitalizing a business means upgrading its analog operations into digital ones. This opens the way for many benefits, such as improved workflow and better security. More specific examples include quicker payroll distribution, accounts payable automation, improved inventory management, and employee scheduling.

The term "digitalization" is sometimes confused with "digitization." The latter refers to converting analog information (e.g. paper records) to a digital format, often with a scanner or similar device. Digitization should be one important part of a business's digitalization process. Yet there are many more to consider.

Why digitalize your business?

The COVID pandemic and its related shutdowns forced many businesses to digitalize on the fly. Analog workflows that had gone unchanged for decades pivoted to digital and online methods. An article published by Ant Group International Business President Zhao Ying in January 2023 notes that our lives have become even more entrenched online since 2020.

Ying also notes that SMBs have played a major role in post-COVID economic recovery. As more early-stage companies make their services as accessible as possible, the market grows more robust. "A strong and sustained global economic recovery is only possible if these businesses can successfully adapt to post-COVID consumer behavior," Ying writes. "This is where digitalization is the great equalizer."

Customers show no desire to lose the conveniences of a connected marketplace, either. Ecommerce, i.e., selling products and services online, hasn't lost its popularity since the pandemic. In 2023, Morgan Stanley forecasted that global ecommerce will grow 8% per year through 2027 to reach $5 trillion.

Many of us interact with successful examples of business digitalization every day. Rideshare apps are a prime example. Uber and Lyft have digitalized taxi services with apps that let you summon rides and pay for them with your phone. No more having to give drivers instructions. No more need to fumble for cash at the end of the ride. StubHub is another example: Users buy, exchange, and sell tickets via an entirely digital experience. No more haggling with scalpers outside concert venues. No more buying tickets from random people on Craigslist.

Still, many small to midsize companies hesitate to digitalize. They’re anxious about the cost of digitalization. They worry the process might disrupt short-term profits. They're concerned about potential security leaks. And, frankly, who has the time? Business owners already pour every second they have into their businesses. These are all valid concerns. Fortunately there are many tools and resources to make business digitalization faster and smoother.

Did You Know?:The RICOH fi-8040 scanner lets you send your captured documents directly to multiple cloud locations. Click here to learn more.

How can I digitalize as painlessly as possible?

Your first priority with business digitalization is the customer or client experience. A digital experience is only worth the effort if people still want to use it. Once your foundation is stable, everything else falls into place more easily.

• Assess your processes and set a direction: Digitalization will not look the same for every business. A sales office may digitize invoices to streamline its accounts payable process and bring its entire payment system online. A factory may connect its industrial equipment to the Internet-of-Things to monitor its performance 24/7.

  Our comprehensive guide to digitalization can help you define what this process should look like for your business and set the right course.

• Make sure your platform is ready for business: "My advice to any entrepreneurs taking their business online is to first ensure your ecommerce platform is set up to convert sales," Adam Ross, CEO of Awin told Forbes in a 2022 panel.

  Whether they’re a consumer or another business, the user needs to have a pleasant experience above all else. They must be able to find and buy your services and products right away.

• Make a website that lets clients get to know your brand: Websites might seem “old-fashioned” in this age of mobile apps, but it's smart to have an online space that you control, and where clients can access everything they need to know about your brand on any connected platform.

Did You Know?:The RICOH fi-800R can scan a wide array of documents, including passports and IDs — and its ultra-compact size means it fits in just about anywhere. Learn more here.

Our recommendation: RICOH fi and SP scanners

Those in the market for devices to enhance their SMB’s digitalization have no shortage of options. We take great pride in having spent the last 50+ years researching, designing, and developing some of the most advanced and powerful electronics in the world, including our professional grade fi and SP series of scanners.

Built to purpose for the most demanding document handling jobs, fi and SP scanners are capable of processing tens of thousands of pages per day at the highest levels of accuracy. Their intuitive integration capabilities with all existing work suites minimize time-to-value for businesses looking to invest in tools that will pay dividends for years to come.

Here are just a few of our scanners that are ideal for SMBs with their digitalization processes:

• The fi-8040 scanner offers a touchscreen interface that's easy and intuitive to use. Its DirectScan abilities even let you send your scanned documents to a variety of destinations without the need for server software or cloud services.
• The fi-800R scanner is ultra-compact, making it a great option for SMBs where space is at a premium. Despite its diminutive size, the fi-800R can scan up to 40 pages per minute and handle a variety of different document dimensions.
• The SP-1120Ne scanner is an affordable plug-and-play device that's ideal for home offices and small businesses.

Click here to learn more or shop the rest of our production scanner line.

Note: Information and external links are provided for your convenience and for educational purposes only, and shall not be construed, or relied upon, as legal or financial advice. PFU America, Inc. makes no representations about the contents, features, or specifications on such third-party sites, software, and/or offerings (collectively “Third-Party Offerings”) and shall not be responsible for any loss or damage that may arise from your use of such Third-Party Offerings. Please consult with a licensed professional regarding your specific situation as regulations may be subject to change.