We’ve discussed digitalisation and why it’s a must for businesses to not only survive for posterity but to boom in today’s exceedingly saturated market. Now let’s talk about digital transformation.
Digital transformation is more than the act of using digitised information for more simple and efficient operations—it’s revamping the entire way you manage your business.
Take a step back and examine everything about it, from the internal structures to customer interactions and so on. A critical facet of digital transformation is to fathom the budding potential of your technology.
In this article, we’ll be reiterating the essentiality of making the digital shift for your company with 10 compelling reasons.
In case you didn’t know, businesses that have transitioned to digital transformation are leading the race, leaving traditional companies rushing to assemble the scraps. It only makes sense that firms with workforces well-equipped in the best practices of this cybernated age beget tremendous success.
Additionally, the transformation should be entwined into the framework of a company and espoused by outstanding leadership to achieve maximum impact.
As a dynamic entrepreneur, you might tackle digital transformation for various reasons:
1. Help your team be more effective
Employers are always seeking new ways to engage their workforce and improve productivity. For this, technology plays a pivotal role in increasing the effectivity of employees in their primary task. Digital transformation provides invaluable aid for core business functions, for example, HR and finance, to remove manual processes and automate key aspects like payroll.
By supporting this innovation, remote working and availability of technology and services on demand can enable employees to accomplish goals. Simultaneously, leaders may direct a full focus on more immense business opportunities.
2. Transform customer experience
At the heart of any business is customer experience, which can be said the same for digital transformation. An obsession shared among millennials and Gen Z-ers is that they desire an easier life where solutions for their obstacles are quickly found.
Consequently, the primary objective of Digital transformation is to utilise cutting-edge technology to enhance the customer experience.
This beneficial transition is beginning to dawn on many organisations, with 92% of leaders developing intricate digital transformation strategies to gratify customers. Several success factors in customer experience during this process are:
- Designing and digitising customer journeys
- Increasing speed and agility in insights
- Developing dexterity in delivering journey transformations
3. Collaborate better across departments
Digital transformation offers ideal opportunities to unite your company as a whole; from leaders to entry-level workers when the change is built on digital congruence. Strong communication across all departments is required to ensure a smooth and successful switch. By breaking down social divides and working together towards a common purpose, not only will the workforce’s digital intelligence be improved, but a strong sense of culture will be formed throughout the company.
4. Strengthen partnerships
Competition within industries never rest; it gets fiercer every second as we speak. As a result, businesses become increasingly reliant on one another, collaborating with suppliers, distributors and sub-contractors to produce a diverse array of products or services that will intrigue consumers.
Traditionally, handling these partners involved document-based communication, which can be a tiresome process. Now that modern technology is widely accessible, this process can be redesigned, enabling a workflow that is more timely, accurate and transparent.
5. More data-driven insights
Another benefit you can reap from going digital is the capacity to track metrics and analyse data gathered during digital marketing efforts. Using these insights allows you to understand your customers better, leaving ample room for redefining business strategies, hyper-personalisation, relevancy and real-time feedback.
Integrating data-driven insights can also help you make better decisions, paving the road to a higher ROI. During the transformation journey, firms should pull together both structured (customer information) and unstructured (social media metrics) data to optimise strategies.
6. Renew skillsets
As new technology continues to emerge, demand for the relevant specialised skills grows with it. Some of the rising skillsets digital businesses look to build upon include artificial intelligence, cloud computing, data analytics and augmented reality. Many companies are still lacking in digital proficiency, constrained by their fear of change.
Casting these fears aside will allow employees to learn new skills and endow your business with the necessary knowledge essential to sustain a competitive edge in today’s digital economy.
7. Increase agility and innovation
Agility is a business term used to describe a company’s ability to continuously improve as well as develop fast, especially when it comes to digital processes. About 68% of organisations ranked agility among the top three considerations for digital transformation initiatives.
In our ever-changing digital landscape, there are always changes to be made and improvements to be executed. Even those who are top tier need to be adaptive and innovative at the ready. New tools are perpetually discovered while new trends arise.
Ain’t no rest for the wicked, it seems.
8. Advocate eco-friendly methods
Gone were the days where papers are recycled, tossed and piling on our landfills. Digital transformation helps businesses eliminate the use of paper as conventional methods are dismissed, reducing costs and protecting the environment.
If you choose to take a step further by implementing a remote work strategy (which is more of a requirement now than a choice), employees don’t have to commute to the office, reducing their carbon monoxide footprint.
Not to mention, you can save additional costs on electricity, water, etc.
9. Be found online
Nowadays, if you’re not found online, you might as well cease to exist. Consumers often cruise the internet for information related to a product or service before deciding on their purchase. With the help of digital transformation, you can secure an excellent online presence and reach your target audience much easier.
10. Greater profitability and faster decision-making
By engaging your company in current digital transformation trends, such as the Internet of Things, Big Data, cloud computing and so on, you will find its profitability climbing due to its extraordinary innovative component.
So before setting your digital transformation into motion, be sure that you’re clear on the cost savings to be obtained.
Leveraging AI-based technology and tapping into big data also grants leaders the chance to make faster and better decisions, due to the advanced capabilities of AI to sift through data at a quicker and more reliable rate.
Businesses in the limelight of the digital revolution are guaranteed to earn more authority, respect and trust from consumers. We hope these compelling reasons persuade you to embark on your digital transformation journey!
Walk Production is a digital and creative agency offering superb services, including website development, branding service, copywriting, company profile and search engine optimisation (SEO). Engage our team of diverse talents to help you establish the brand identity and online presence you deserve. We would love to be an asset in your transformation!
Find out more about Walk Production’s services on our official site.