An increasing number of companies digitalize their business models and organizational structures. However, current reports revealed a growing digital skills gap within most companies. Executives and employees do not have sufficient knowledge what kinds of digital technologies exist and how they function. The aim of this paper is to increase the digital literacy regarding cloud computing, big data and Internet of Things, as these technologies represent key factors of digitalization. A subjective literature review presents challenges and advantages of these technologies and exemplifies how they can be applied. The successful implementation requires the development and maintenance of technical and non-technical skills.