90% of businesses do their work in the cloud. As companies move their data to the cloud, they are mostly making digital copies of the services they already offer. But true digital transformation is so much more than that. Digital transformation can actually change the whole organisation by creating a technology framework to turn these services and data into actionable insights that can improve almost every part of an organisation.
Everyone agrees that digital transformation is important for the success of all modern businesses, but nobody says it’s easy. Digital transformation has many parts, is hard to understand, and is full of problems that can make even the most experienced businessperson’s head spin.
How does digital transformation help businesses?
It improves customer happiness
Customers have never had more high hopes. On one hand, customers want services that are tailored to their own needs. On the other hand, they want things to happen automatically and don’t want to have to deal with people to do things like access software, update it, or turn it off and on again. One of the most obvious benefits of going digital in business is that you will be able to use strong digital tools and strategies, such as licences that can be changed by location or industry and automated processes. By digitising these processes, customer satisfaction goes up right away.
It drives data-led insights based on data
One of the most important benefits of digital transformation is that it will allow your business to collect and analyse data that can be turned into the sort of business insights that can really drive growth. In the past, your data was spread across many different platforms that didn’t talk to each other. If that wasn’t bad enough, you might not have collected or used any data at all. Digital transformation will allow for better data collection, centralised data storage, and the creation of tools to analyse and translate data into information that helps businesses make better decisions.
It makes the user’s experience better
Companies with a lot of value know that they’re not just selling things; they’re selling experiences. With automation, AI, and self-service solutions, digital transformation makes it possible to create experiences that are beautiful and easy to use. Show that you understand the digital age by giving your customers a smooth user experience.
It helps people work together and talk to each other better
To drive innovation and output, you need a digital platform that makes it easy for all internal departments to talk to each other and work together. Digital transformation gets rid of back-and-forth communication, duplication, slow response times, lost information, and inefficient sharing of ideas. When you digitise your business’s internal communications, you’ll boost productivity, accountability, and creativity, and give yourself the edge you need to beat the competition.
It makes you faster
Only 8% of businesses believe that their current business model would still be profitable if their industry keeps digitising at the same rate and pace. That means that a huge 92% of businesses know that being able to change and be flexible is the key to making it through the intense digital transformation that is happening right now. Products are changing, revenue streams that used to be reliable are drying up, and customer needs are very different from just a few years ago.
It promotes an environment where employees can do their best
A big part of a successful digital transformation is getting the whole company on board. You need to make it clear to everyone in your company that going digital will be good for them in the long run. Invest in your employees’ digital skills to get them on board. Hold internal webinars, go to conferences, and send your employees to courses that will help them improve their skills. Good employees are your most valuable asset, so don’t underestimate how important it is to invest in their growth.
It can boost the efficiency of operations
Digital transformation makes your operations run more smoothly. By integrating with back-office systems, automating delivery processes and product updates, allowing activation across devices, managing multiple product variants, and other things, you can get rid of messy manual processes and cut costs. With digital business processes, you’ll save time, make up for lost revenue, and feel less stressed. Because doing business online is the same as doing business well.
It sets the stage for growth in the future.
The last advantage of digital transformation is the most important one. Digital transformation is the first step that makes all other business growth possible. If you don’t put money into digitally transforming your business, it won’t be long before it’s out of date. Digital transformation isn’t optional. It’s not the cherry on top of a business that’s doing well. To stay at the top of your game, you must be willing to pivot and change. Once you do, digital transformation will help you grow stronger and make more money for years to come.
