This pattern is predicated on the capacity to convert existing items or services into digital versions, therefore providing physical products with advantages such as easier and faster delivery. In an ideal world, digitalization of a product or service would occur without compromising the consumer value proposition. In other words, efficiency and multiplication via digitalization do not detract from the perceived value of the consumer.

When and how to apply Digitalization:

Digitalization is a more comprehensive transformation of a business model to employ digital rather than analog processes. A company's decision to digitize the handling and processing of all financial documents is an example of digitalization.

Business digitalization is the incorporation of technology that transforms the manner in which organizations operate across their various areas, services, and channels, with customers and other stakeholders. A true digital transformation process goes beyond purchasing and implementing a new tool or piece of software; it requires an organization-wide commitment to evaluate, challenge, and reconfigure business processes at a path and pace that works for the organization, its customers, and its suppliers.

Benefits of business digitalization:

• Lower costs

• Less manual work

• Fewer errors

• Visibility over company spend

• Control over cash flow

• Data-informed decision making

Well-known companies that use this pattern are LinkedIn and Twitch.