Innovation in technology has transformed businesses at an incredible rate. Digital Transformation provides opportunities as well as challenges for business. However, where previously this was limited to larger organisations, smaller businesses are now also able to grasp the opportunities presented by the digital phenomenon.
Digital transformation refers to the incorporation of digital technology across all areas of a business, changing how the business operates. This is a powerful concept, which businesses that want to be on the cutting edge embrace, and it’s increasingly essential as the Constellation Research 2017 Digital Transformation Study indicates that “64% of organisations recognize it as essential to driving profits.”
While the need for digital transformation is clearly present, with so many different types of businesses, the process will be quite unique at each organisation. That is where future® can help.
Why Digital Transformation Matters
While there may be a multitude of reasons for a business to undergo digital transformation, it mostly boils down to survival. It’s often a necessity for businesses that want to survive and outlast the ones that failed to evolve.
Technology drives the shift in business, and companies that wish to succeed must merge technology with strategy to stay ahead. Data analytics is at the top of the list of priorities, particularly in terms of data visualisation and machine learning.
Speed is also an important consideration. Digital initiatives that foster improved speed and agility for the organisation are at the forefront of digital leadership.
These are the operational priorities, but a positive customer experience is the ultimate goal, and is a significant driver for digital transformation. Customer experience can make or break a business, and digital technologies play a vital role in ensuring a positive relationship between businesses and their customers.
The biggest advantage is that it creates a well-connected workplace and supports all your business goals and allows your organisation to be able to achieve:
- Profitability: without a digital transformation, it’s impossible to measure profitability of your organisation. With it in place, you have access more resources that improves efficiency and productivity which support your profitability targets.
- Superior customer experience: For businesses to thrive, we all need satisfied customers, digital transformation supports your processes that improve your customer’s experience and therefore improves customer satisfaction.
- Improved efficiency: Digital processes replace normal manual processes which means operations are faster, smoother, and more efficient.
Contact future® to find out how we can help you on your digital transformation journey.