As per the leading Report on Digital Transformation, nearly 64% of the global companies are ready to adopt new technologies to optimize operations for improved growth and revenue. However, less that 12% business leaders say their organizations have the manpower and know-how to rapidly adopt these changes, leading to an almost 60% failure rate of transformative technology adoption.
However, with the arrival of COVID-19, organizations have been forced to expediated their transformation and rapidly adapt with changing times. Companies of all sizes and across varying industries were forced to provide anytime, anywhere access to tools and software to their employees. This was made possible with rapid adoption of cloud-native digital and cognitive technologies.
This begs the question, “What is Digital Transformation and Is it right for my business?”
In this blog post, we’ll explore what digitally transforming your business in 2021 is like and how it helps grow your business.
What Is Digital Transformation?
Just like how biological evolution ensures that a species survives the ever-changing environmental conditions in the world, digital transformation is about evolution of business and preparing to safeguard and ensuring long-term survival of business.
Simply put, Digital transformation is the selection of digital processes and tools to achieve strategic business goals. Digital transformation transcends traditional roles like marketing, sales, or even customer support service. It goes beyond organizations trying to meet the market’s ever-changing needs and stay ahead of the competition. Digital transformation begins and ends with just one factor – customer engagement.
- “Nearly 87% of companies believe that digital transformation is a competitive opportunity”
- “66% of CEOs say that digital transformation is at the center of their corporate strategy”
How Can Digital Transformation Benefit Your Business?
Increases overall efficiency
Since all your processes are now streamlined due to digitization, you no longer have to stress unexpected bottlenecks. Digital processes enable the faster flow of inter-departmental information, improve the business’s overall efficiency, and eliminate redundant tasks.
In turn, this helps reduce the operational costs associated with complex and time-consuming workflows. The digitally transformation resolves bottlenecks created by flow of data and information. Moreover, it streamlined processes and increased efficiency that simply means that the workflows can be adjusted quickly and effectively, based on your business’s changing priorities and goals.
Streamline Processes & Value-driven Workforce
Digital Transformation brings in process automation that can help businesses delegate mundane, recurring tasks to software robots who can perform these tasks with near perfection. This allows organizations to free up resources performing these tasks and allows them to upskill their work force for better efficiency.
Technological advancements and innovations also empower the workforce to become more proficient and productive in their day-to-day tasks. Working with streamlined processes means that they can accomplish all their tasks quicker. Creating a more efficient, value-driven, and upskilled workforce.
Promotes an environment for growth
With digital transformation come a solid customer base, increased customer engagement, efficient processes, and automated workflows. And that’s why it’s no surprise that companies that implement digitization find it easier to grow and expand.
For instance, an organization with no online presence whatsoever probably generates sales through retail stores and word of mouth. However, by building an optimized and robust website, the business will be able to attract more customers than before. This means that they now have more opportunities to promote their products, generate more sales, and in turn, reap profits. Further, by tracking their existing customers’ behavioral patterns and feedback, they can create more products that appeal to their clientele and scale their business accordingly.
Now that you’ve found out about some of the ways a digitally transformation can help your business grow, examine where technology can help you make an impact in your company. Being the leading Digital Transformation consulting services provider, we at Deck IT take a six-step approach to help customers move through the journey of Digital Transformation.
- Identify opportunities for business transformation
- Modernize core technology
- Harness the power of data and analytics
- Establish a Digital Transformation Culture
- Optimize people and process
- Deliver a return on digital investment
We analyze the company’s tech infrastructure, processes, people, and organization to strengthen the organization’s short-term performance and maintain sustainable long-term improvement. Formulating a transformation strategy and roadmap includes both short-term, high ROI, and long-term initiatives.
- Implementing digital technologies to decrease the manual workload of organizations to reduce expenses
- Increase team member satisfaction by lessening dull work
- Increasing process adequacy (e.g., reduced error rates)
- Enabling faster responses to customers
- Building digital products to enable the company to expand into new businesses or new channels
- Outlining necessary changes to people and processes to enable and sustain the digital transformation
If you are looking to transform and change your business, contact Deck IT to set up a discussion.