IT Glossary



Digitization

Digitization is the process of changing from analog to digital form, also known as digital enablement. Said another way, digitization takes an analog process and changes it to a digital form without any different-in-kind changes to the process itself….

Magnetic-Ink Character Recognition

…Magnetic-ink character recognition (MICR) is the machine recognition and digitization of magnetically charged characters printed on paper (typically bank drafts and deposit slips)….

Digital Transformation

…idely in its meaning depending on context. It can refer to anything from IT modernization (for example, cloud computing), to digital optimization, to the invention of new digital business models. The term is widely used in public-sector organizations to refer to modest initiatives such as putting services online or legacy modernization. Thus, the term is more like “digitization” than “digital business transformation.”…

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