According to a survey conducted by Dell, in 2020, 8 out of 10 organizations speeded up their digital transformation programs.
What caused this sudden change? Why did businesses put so much effort into digital transformation measures rapidly? The reason for this is that, with the advent of Covid-19 and related consequences, businesses realized that creating a fundamental change in business strategies is a must in the new world.
Embracing innovation and approaching business management with a new mindset has become imperative to thrive in the digital-first world.
Here we will discuss why your company must take digital transformation seriously, what benefits it brings, and why it is important.
To be more customer-centric
Business approaches have shifted from following a product-centric strategy to a customer-centric strategy. Digital transformation makes this path smoother as at the core of it lies one thing- customer experience.
Digital transformation is not about using the latest of digital transformation technologies in transforming business processes. Instead, it is about using technology to aid the customer's journey. Technology plays a significant role in it because we are living in a digital era. Digital transformation aids this by using the digital medium to increase customer experience and provide them with more value.
Be more productive and efficient
In a traditional company setup, how much of an employee's time is lost on performing routine tasks that need zero human efforts? Be it signing an approval order or organizing documents based on some parameter- about 25 per cent of employees' time is spent carrying out mundane tasks.
Digital transformation brings a solution to this problem. It brings automation to business procedures. A digital transformation consulting services will help you automate tasks that do not require human intelligence using tools like Robotic Process Automation, Power BI Automation, etc. It increases productivity and efficiency by providing employees time to focus on more critical tasks and also encouraging them to use their skills where it is needed.
Make data-based decisions
We live in a data-driven world. For business decisions to be effective and relevant, it has to be based on data. Decisions based on assumptions or guesses do not guarantee success anymore. And to be noted is that it's not just about collecting data but also about analyzing it and gathering relevant insights.
Digital transformation is a key strategy that empowers businesses to take data-backed decisions. As an organization tracks various data metrics and analyzes data, it helps them take more relevant decisions that are customer-centric and ensures success. This increases the organizations' ROI and makes their business grow.
Enables collaboration and innovation
Two things bring the best out of employees. They are collaboration and innovation.
Collaboration creates an engaging environment for employees to work. It makes the workspace more interactive and efficient. Features like co-authoring provided by document management systems like Sharepoint, co-design by UX design tool Figma, etc., takes collaboration to a new level.
And innovation is key in creating a work environment that promotes value. Innovation encourages employees to explore their potential as well as the potential of the latest in technological advances. It motivates them to be the best version of themselves, thus enabling them to give a company the best of their time and skill.
The business environment is going through a huge transition. Digital transformation is at the forefront of this change. Its effect is not just on factors like company outlook, brand positioning, or profitability but also on factors like employee task performances, record management, etc. To unlock the best of productivity, deliver extraordinary customer service, and create a place in the competitive business world, digital transformation is an essential step that every company must take. Contact a digital transformation company to take this step for your business.