COVID-19 Covid-19 provides for an international digitalization push.
The COVID-19 virus is testing the digitalization status of companies worldwide. The digitization level of German companies is being tested by the current large-scale work at home. The digitalization level describes, according to the definition, the degree in which analog content or processes are transformed into a digital form or working method.
In the ranking of the "International Institute for Management Development", Germany is ranked 17th out of 63 in an international comparison, due in particular to the fact that German SMEs are lagging behind in terms of digitization. These companies represent 58 % of all employees with social security contributions and make a decisive contribution to German economic growth.
While SMEs perform above average in the areas of IT, information security & data protection, they are particularly weak in the area of digital offerings & business models. The branches are positioned differently.
German banks and insurance companies have the highest level of digitization. Meanwhile, commerce and self-employed, scientific, technical and economic services have the most catching up to do.
The positive effects of digitization are also received differently. Around 50 % of German SMEs have simplified their processes and increased customer satisfaction through digitization. Other positive developments can be found in 47 % in service/product quality and 45 % in new customer development. At the same time, about 40 % of the companies have increased their sales, revenues and operating result.
There are many reasons why SMEs have overslept digitization. We will report on this topic more intensively next week... so stay tuned!You can find further information here: