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What Is Digital Transformation?

The Global Center for best Digital business transformation says that “organizational change is the foundation of digital business transformation”.

Digital Business Transformation Training Courses| Hoba Tech

That’s because changing the nature of an organisation means changing the way people work, challenging their mindsets and the daily work processes and strategies that they rely upon. While these present the most difficult problems, they also yield the most worthwhile rewards, allowing a business to become more efficient, data-driven and nimble, taking advantage of more business opportunities.

Define ‘digital’ in digital transformation

While the focus is on changing how the business works at every level, technology underpins all digital transformation projects. But what technology?

Obviously this changes as time goes on, but typically businesses want to adopt technologies that help them harness and make sense of the vast quantities of data they are sitting on, as well as preparing for trends like the Internet of Things (IoT) and mobile.

That means analytics tools are high up on the agenda, as well as cloud computing, which lets you store data outside your own data centre, potentially closing this down. You might also want to focus on collaborative tools, like file-sharing, mobile devices, and apps, that let your employees work wherever they are, and which give them instant access to information – especially useful for salespeople visiting customers, for instance.

Practical Steps Companies Can Take to Reduce and Detect Fraud

Frauds are on rising. And they will continue to rise unless companies get ready to tighten their belts and create an environment that can successfully inhibit fraudulent activities.

Taking immediate and vigorous action in response to a fraud that is just detected is not only necessary to avoid future losses, but will also help in deterring other frauds. Managers can play a greater role in ensuring nothing suspicious goes on without proper investigation. Prevention is always better than cure, especially when it comes to preventing fraud in companies.

Detecting fraud is always more difficult and tiresome; and by the time you detect a fraud, the loss/harm is largely done. Here are some practical steps that you and almost every company can take to reduce and detect fraud at its first appearance:

You can get more information about credit card fraud prevention system online also.

Supervising

Supervision is one of the most-effective tools to prevent fraud from taking place. Supervision becomes all the more important when the staff is dealing with cash and accounting records. Random spot checks by supervisors also work as an effective anti-fraud measure. Many more such steps can be planned by the management.

Physical security

Physical security is seen as a strong measure for discouraging fraud. Be it stopping unauthorized access to the computers of your office or cheques that are issued to pay suppliers, physical security measures have been proved to be quite effective.