The Challenges of Digitalization and the Digital Thread

<p dir="ltr">We have come a long way from thousands of pages in filing cabinets and snail mail communications, but the digitalization of data comes with its own set of challenges. Digitalization allows for the automation of transactions, but because it deals with people, there are still limitations. How are companies evolving with these changes? On today’s episode of The Digital Enterprise Society podcast, Craig Brown and Thom Singer are joined by PROSTEP, Inc. US Federal Sales Executive and Industry Manger Jim Markwalder for a conversation about the history, progress, and challenges of digitalization.</p> <p><strong> </strong></p> <p dir="ltr">On today’s podcast, you will learn:</p> <p><strong> </strong></p> <p dir="ltr">What is digitalization in 2023?</p> <ul> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">Traditionally, business has been all about people and documents.</p> </li> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">Digitalization made it possible to save, store, and manipulate documents.</p> </li> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">The challenge then came with emailing copies and maintaining version control.</p> </li> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">Digitalization happens when moving from documents to data.</p> </li> </ul> <p><strong> </strong></p> <p dir="ltr">Limitations to digitalization</p> <ul> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">Can a contract become just data? Smart contracts and blockchain are designed to manage and control contracts.</p> </li> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">The legal system is slow to catch up with digital documents.</p> </li> <li dir="ltr" aria-level="1"> <p dir="ltr" role="presentation">Digitalization is not limited to data sharing, it also includes collaboration.</p> </li> </ul> <p><strong> </strong></p> <p dir="ltr">Applying digitalization to the digital thread</p> <ul> <li dir="ltr" aria-level="1"> <p dir="ltr" role="prese