Businesses around the world are hastily embracing digital transformation. This is occurring as a mega trend now as businesses realise the urgent need to find better ways to deliver the experiences their customers demand.
In a world largely driven by technology, digital transformation is not a big players’ ball game. It does not require you to have huge infrastructures and large budgets.
Adopting smarter devices and integrating intelligent process automation into applications or doing complete technology overhauls is not reserved for big businesses anymore.
While established market players are stuck with their legacy systems, the nimbleness of smaller businesses is allowing them to disrupt entire industries quickly by leveraging cloud technology.
To stay relevant, competitive and grow market share, your business needs to embrace digital transformation even if it means taking one tiny step at a time.
Digital Business Transformation helps businesses of all shapes and sizes to unlock hidden profits and unleash their full potential.
The following 4 key benefits are achieved by organisations that digitally transform their business practices.
1. Empowered Employees
Digital Transformation must start with your most valuable asset, your staff.
At the heart of digital transformation is the adoption of technologies, that enable employees to work remotely and access accurate and important business data anytime.
Using video conferencing to on-demand learning solutions, technology can help break barriers to employee communication, upskilling and collaboration.
Employees empowered to effect positive change have a trickle-down effect that extends to systems, processes and ultimately the customer experience.
2. Streamlined Operations
Digital Transformation allows businesses to fill inefficiency gaps by providing real-time business insights to facilitate decision making.
Enterprise Resource Planning (ERP) for procurement, distribution and maintaining inventory levels based on real-time replenishment needs is possible now.
Customer Relationship Management (CRM) technology that helps sales staff to target users based on crowd behaviour is available now.
Business intelligence solutions such as Power BI makes data integration and analysis much more streamlined, helps companies drive growth based on facts.
The key to all of this lies in business process automation. Digital transformation optimises operations through integrated business units to direct resources and scale your business appropriately.
3. Innovative Products and Services
The pressure to compete in a cost sensitive market that demands ever more value, forces companies to innovate faster.
Organisations adopting data-driven digital technologies are at an advantage to gain deeper insights into their changing customer demands.
If you have access to the right analytical insights, you can defend pricing and differentiate offerings better than your competitors.
Using predictive analysis, you can take measures to help create innovative products and service packages to better suit the customer.
4. Improved Customer Engagement
All businesses seek to create positive experiences for customers at each point of interaction. Digital Business Transformation can take customer engagement to a whole new level.
Digital technology can create direct communication channels to share real-time information with your target market. You can customise interactions to create a very personal and exceptional customer experience.
The World has become more consumed by social media in the last 3 years than ever before. By being digitally visible and active in the social scene your company can improve the response rates and client satisfaction levels.
Digital transformation is not a one-off exercise. It is an organisational level program to learn and evolve constantly, challenge status quo and improve digital capabilities one at a time.
The 4 benefits listed above are very valuable and realistic outcomes for a Digitally Transformed Business. Digital Transformation technologies are now readily available to business of all shapes and sizes.
A clear vision, a digital-first culture, management buy-in, adequate training and third party solution providers as your long-term strategic partners are some of the pre-requisites to begin your digital transformation journey to accelerate your business success.
Disrupt your market or be prepared to be disrupted by someone bigger or even much smaller than you.
jEyLaBs Consultants have assisted many organisations across various industries to transform their business processes. Read more about our success stories here. If you want to grow your business and want to learn how our Digital Business Transformation services could aid you please get in touch.