Disadvantages of not adopting Digital Transformation

March 19, 2021

Digital transformation may be perceived by some business owners as an expensive and unnecessary commitment. On the contrary, it can be done at a low cost and can suit budgets of all sizes.

Yes, the process does take time, and needs investment and patience. But once completed, the businesses that adopt it reap huge rewards.

Many declare that their lack of familiarity with technology or current IT systems is stopping them from going digital. But updating your procedures to digital is definitely a better option, as compared to potentially going out of business because digitalization has now become a necessity. It isn’t just an “upgrade” or a fancy addition.

What are the costs a business has to pay if it doesn’t adopt digital transformation?

Competitive disadvantage - Digital transformation is being adopted by every company and business out there today, in order to be on par with the trends and to serve customers better and in competitive ways.

If you have competitors (like any business does), there is a possibility that they have adopted digital transformation too. And if you haven’t yet, then you have a disadvantage right there. The probability of a business doing better than their digitalised

Staying in demand - Digital technology is the best way to stay agile and relevant in today’s digitalised market. Customers are used to digital services and tend to bounce off a brand if they cannot find certain digital capabilities.

Losing Employees – Surveys have shown that many gen-z employees have quit a company where no digital tools are used to perform functions, because this means that they need to do this work manually, and would rather prefer to do the same at a company that has enable digital procedures.

Many of these employees can be talented and of immense importance to the company’s progress and retaining them can be a struggle if these businesses do not adapt digital technology.

Difficulty with analytics – It is known that digital transformation also provides the advantage of easy web analytics, and lets businesses track consumer information like interests, online behaviours, preferences and unnecessities.

This consumer data allows businesses to improve and personalise their content further to consumer’s interests, engage on the more important areas, and let go of what doesn’t work. Not adopting digital technology means not having this insight, without which businesses can make detrimental errors in strategizing their plan and functions.

For a business to succeed it is crucial to have the ability to adapt to changes, rise to challenges and cultivate a culture of collaboration.

Hence, it is great to adopt and make digital transformation work for your business rather than falling in the face of it.