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Nazrin Abdul

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In an era characterized by the emergence of new global standards, national economies are actively striving to adapt. Traditional business models are increasingly integrating into the digital landscape. One of the foremost strategic objectives of the global economy today is the transition to a digital economy, which serves as a catalyst for its further development.

So, what exactly is meant by digital economy?

The digital economy refers to an economic system that is primarily based on digital technologies, including the internet, digital platforms, and data-driven processes. It encompasses online commerce, digital services, and the use of data to enhance business operations and decision-making. Key components include e-commerce, digital marketing, fintech, and the gig economy. The digital economy enables faster transactions, greater access to global markets, and innovative business models, transforming traditional industries and creating new opportunities for growth and efficiency. As digital technologies continue to evolve, the digital economy is increasingly shaping how we work, shop, and interact.

Transformation of the digital economy in Azerbaijan

The digital economy in Azerbaijan is poised for significant transformation, necessitating innovation and targeted development. To this end, state agencies are implementing comprehensive measures aimed at enhancing this sector. The digitalization process not only facilitates businesses' access to new markets but also improves operational efficiency and strengthens communication methods with employees.

In this context, the Agency for Innovation and Digital Development, operating under the Ministry of Digital Development and Transport, is spearheading various projects and initiatives. Notably, one such initiative is a collaborative project with the Small and Medium Business Development Agency (SMBDA / KOBIA).

On September 30, the opening ceremony for the "Digitalization of SMEs" program was held, marking a key milestone in this collaboration. The program is designed to enhance the competitiveness and market opportunities of small and medium-sized enterprises (SMEs) by leveraging digital tools and advanced technologies.

A central feature of the project is the assessment of the digital maturity of SMEs, along with the development of tailored roadmaps to meet their specific needs. This approach provides each entrepreneur with access to resources equivalent to personalized mentoring services.

To facilitate this process, the "digiMATE" platform has been developed, aimed at accelerating the digital growth of SMEs across the country.

What does the digiMATE platform offer entrepreneurs?

The "digiMATE" platform serves as a comprehensive digitalization guide for small and medium-sized enterprises (SMEs), supporting entrepreneurs throughout their digital transformation journey.

This platform addresses critical elements of corporate digital transformation and encompasses two main components:

- Digital Maturity Index (DMI)
- RYİ+ (an evaluation system designed for SMEs with medium to high levels of digital maturity)

The Digital Maturity Index acts as an assessment tool that enables businesses to gauge their digitization progress. Upon registration, SMEs can utilize the RYİ assessment to identify their current stage of digitalization. Based on the evaluation results, SMEs are classified into four categories: "Digital Enthusiast," "Digital Entrepreneur," "Digital Implementer," and "Digital Champion."

Those categorized as "Digital Enthusiasts" and "Digital Entrepreneurs" will have access to educational training sessions and seminars aimed at enhancing their digital capabilities. These programs provide insights into advanced international practices and equip participants with essential skills for successful digital transformation in Azerbaijan.

Conversely, "Digital Implementers" and "Digital Champions" receive exclusive vouchers through the RYİ+ assessment, offering them enhanced opportunities on their digitalization path.

Furthermore, the R&D+ initiative of "digiMATE" connects SMEs with relevant digital service providers tailored to their transformation needs. These providers specialize in various domains, including cybersecurity, cloud solutions, digital marketing, and ERP systems.

In this way, "digiMATE" emerges as a vital ally for SMEs, creating tangible pathways that accelerate the digital transformation of each enterprise.

In conclusion, the rapid integration of digital mechanisms into the core of the economy underscores the critical importance of transitioning from traditional strategies to a digital economy. As the digital economy emerges as a key driver of innovation, competitiveness, and economic growth globally, the implementation of such initiatives in Azerbaijan reflects successful integration into this transformative landscape.

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Nazrin Abdul is AzerNews’ staff journalist, you can follow her on Twitter: Nazrin

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