International Journal For Multidisciplinary Research

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Digitisation for Opening New Business Ventures

Author(s) Dr. Samadhan P. Borse
Country India
Abstract In the era of globalisation, liberalisation and privatisation, Information and Communication Technology (ICT) plays a vital role in all sectors of economy. So, digitisation provides ample opportunities for developing economies to accelerate inclusive economic growth through opening new business ventures. Digitisation is the process of converting text, images, documents, data, information or sound into a digital form that can be processed by a computer or any other digital gadgets. It gives competitive advantages to business by doing things easy, better, faster, cheaper and more effectively. There are many benefits as a result businesses are making these changes in the organisations like reduce operational cost, more revenue, global expansions, customer interactions, quick communication, increases efficiency, lack of human error, safe data storage and to provide services anywhere in the world. In 2020, India has around 700 million internet users and the numbers are expected to grow to over 970 million users by 2025. This growth is beneficial for creating more and more opportunity to new business ventures.

In the present research paper, researcher would like to highlight importance of digitisation for opening new business avenues that leads to economic development. The paper concludes use of digital technology has fundamentally changed the business scenario and creating new business opportunities.
Keywords Digitisation, E-Banking, E-Business, E-Commerce, E-Finance, E-Marketing, etc.
Field Sociology > Economics
Published In Volume 6, Issue 1, January-February 2024
Published On 2024-02-15
Cite This Digitisation for Opening New Business Ventures - Dr. Samadhan P. Borse - IJFMR Volume 6, Issue 1, January-February 2024. DOI 10.36948/ijfmr.2024.v06i01.13432
DOI https://doi.org/10.36948/ijfmr.2024.v06i01.13432
Short DOI https://doi.org/
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