“Digital resiliency refers to an organization’s ability to rapidly adapt to business disruptions by leveraging digital capabilities to not only restore business operations but also capitalize on the changed conditions.” - Stephen Minton, Vice President for customer insights at IDC.
Digitalization in businesses in the last few years has turned the whole corporate scene on its axis. Most if not all businesses have undergone a digital transformation and rightfully so, considering the dependence on technology that the modern-day world has forged. Everything can be done and availed online or even offline on multiple devices. The need for traditional methods has overstayed its welcome and is now finally dwindling away.
It only makes sense that something so great doesn’t come without its own downfalls. If there’s a light, there will be a shadow in tow. With the digital transformation of businesses into their better selves also comes the risk of digital risks like vulnerability to hackers, bugs, and other forms of foes that can harm an entire database. The discrepancies between what you expect your digitally transformed business to look like versus what it is, are high when you have no digital resilience.
Cybersecurity is a part of digital resilience but it’s not all there is to it. It also includes being aware of the risks that are ever-present and being equipped to deal with them if you ever need to. These can totally change the equation for your business and streamline tasks digitally much better than expected.
Neglecting this aspect of digitally transforming your business might cause more damage than you could possibly fathom - from stolen sensitive information to discrepancies in your accounts - yes, all of that is possible. How can you deal with this? The first step is to have better awareness regarding your digital methods and the influences that can sway the scales.
What are the most vulnerable parts of your business after a digital transformation and how to safeguard them?
With heavy dependence on digital methods, the functionality of a business is despondent without them. Each aspect that runs on a digital method is stuck and that is almost all aspects. One of the most important and most dependent aspects is finance and accounts. The balancing of accounts, making spreadsheets, issuing invoices, sending updates, collecting payments, and everything else that falls under finance is dependent on the competency of your computer files.
Finances need to be safeguarded first and foremost because they are the lifeblood of any company. Here’s how:
Automation of invoices
Use services like easyap to issue electronic invoices that are fully automated and thus impenetrable. Electronic invoicing is also much more efficient than manual methods. Issuing electronic invoices rather than manual methods is a big step when it comes to the digital transformation of a business as it is a part of the customer experience and any hiccups here will be noticeable.
Accounts receivable outsourcing
Along with electronic invoicing, the accounts receivable process is also a point of strengthening your defenses as it deals with multiple aspects (credit approval, follow-ups, payment collection, etc). Employing a third-party application like EasAP takes care of all of these aspects in one go.
Online invoicing portal
When you send your clients to an online portal that manages electronic invoicing, like easyap, you’re directing a significant amount of web traffic to them which if you try to handle yourself, can crash your systems. easyap has dedicated software that is meant for dealing with heavy traffic and still maintaining a good output rate.
All-time access and archiving
easyap archives every invoice they issue and these are accessible to the clients online. This means that your electronic invoicing database is secure and infallible. You can access it whenever needed and even if you lose your personal copies, there is always another one available.
Present-day businesses cannot avoid undergoing digital transformation given the age we’re living in. Digital transformation is a step in the right direction but not one that comes without any hurdles.
It is, however, possible to jump over these hurdles and get the gold - developing digital resilience with methods like electronic invoicing and relying on services like easyap to proceed in a legally correct and secure way.