Digitalization is the use of digital technologies to change a business model and provide new revenue and

value-producing opportunities; it is the process of moving to a digital business. It can transform a

business’ processes — evaluating, reengineering and reimagining the way you do business and also can
reap efficiency benefits when the digitized data is used to automate processes and enable better
accessibility — but digitization does not seek to optimize the processes or data.