The revolution of the digital world is happening before even noticing it or giving a chance for businesses to be ready for the change. Digital transformation is no longer an option but a must for every business looking forward to survive today challenges.
Let’s find out what does digital transformation mean? And why it is important for businesses?
Do you Need to go digital?
You probably think that your business is completely offline and does not need to go digital or adopt technology? If you have this conventional idea, then you need to reconsider this opinion. Businesses that fail to make plans to become digital pay the price, and most of the times, pay it too expensive.
A lot of brick and mortar businesses that ignored the rising of digital revolution and kept their conservative opinions about it, either lost big share of the market to their competitors or just simply get closed and their activities come to their end.
However, being a digital business is not just the immature idea of creating a website and that’s all, you have turned into a digital business. Yes, having an online presence is good, but being a digital business requires a lot of planning and integration of a bunch of technological tools and practices into the core of your business and change procedures.
What does Digital Transformation mean?
Digital transformation is the incorporation of information technology into your business to change how it operates. It is the transformation of your business processes and activities using digital technologies for the aim of optimizing your organizational practices and culture.
All departments of a business are affected by this change that instills new thinking in the whole company including communication, finance, management…etc. It is creating new business processes, new consumer experiences; or modifying and editing existing ones.
It is a strategic transformation which optimizes the productivity and efficiency of the company through the abolition of time and space, and by allowing access to universality and the multitude.
We talk about automating operations, about people, and about new business models, Wrapped inside those topics are data analytics, technologies, and software – all of which are enablers, not drivers
How Digital transformation is Important?
Digital transformation is affecting businesses, not only internally in operations and workflow, but also externally in managing relation with partners, customers and building satisfying experience.
Internally, digital transformation serves to optimizing processes, ensuring facility, rapidity and efficiency of workflow. And when the right technological tools are implemented for instance in HR, Finance, or any of your business sections, employees become productive and have time to collaborate and innovate new improvements that will eventually bring benefits.
Externally, the adoption of technology has changed relation between businesses, customers and partners. On one level, new technological tools reshaped communication between all partners and stakeholders and introduced unified ways of collaboration, thus all elements remain on the same line.
On another level, digital transformation reshaped customer experience which is one of the main goals of successful businesses. And in order to satisfy customers, it is important to keep up the new tools that deal with them, and that will boost your presence in a competitive market and move a step forward over rivals.
Statistics on Digital transformation
Many statistics proves that digitalization is so crucial to business growth.
Large majority of companies understand the importance of digital transformation to their survival. But just 3% of them have completed digital transformation projects across the enterprise
According to Gartner:
- 40% of organizations have reached scale for their digital initiatives
- 91% of organizations are engaged in some form of digital initiative
Use Data to make Better Decisions
Before adopting any kind of modifications into your business, you need to first have a firm understanding of your processes and identify your business priorities. If you are not aware of a problem or an opportunity, you will not tackle it the right way.
And in order to have a clear idea of your digital transformation, you need to base your decisions on analyzing your business data and get good insights.
Today, every business has a large amount of data between its hands, and by using the right analytical tools, this data can be converted into insights that will help make fast, and knowledgeable decisions.
Analyzing your business data explains some of your business patterns and unfolds a lot of connections that can give an idea about the market trends and what customers prefer and many other valuable information. Having all that in hand is a magic key to innovation and coming up with new enhancements.
Build a Strategy for Digital Change
Going digital is more than implementing technologies and integrating new tools into your systems. To keep up to the competitive line, you need to predict the change in the market and make appropriate plans to be ready for the coming market revolutions.
Making a strong strategy needs an understanding of your business’ current position, and what directions you are planning to go? When you answer these two questions, you will know exactly what tools and requirements you need to build your strategy.
When you primarily have a steady strategy before making any move, you will avoid a lot of surprises along the way and you will be sure that your digital change is smooth and will help exposing prospects of growth and new opportunities for your business.
Let us help you!
In order to prepare a strategy for your digital move, let us provide our services as professionals to help you make solid plans and investigate the prospects of implanting technology into your business divisions. Contact us and let us help you!