March 5, 2021
Digital Transformation is the implementation of technology by replacing manual processes with digital processes or replacing older digital technology with latest or better digital technology - to significantly improve performance or reach of a business.
So, using digital technologies, new business processes and customer experiences are created and the existing work culture is modified such that they meet changing business and market requirements in this digital age.
This demands an investment in technology, supported business models, and processes to drive new value for (potential and existing) customers, and businesses who want to begin their digital transformation journey have to be prepared to make this investment – and it definitely will be well worth it.
This is because technology is no longer a choice, or a luxury – it has become crucial, as many transformative technologies are entering the markets today at an exponential speed, bringing advancements in the digital aspects of companies and workplaces. Hence, digital transformation is something that businesses today count on, to not only survive but thrive.
Due to the advancements in technology and services online, today’s customers also automatically expect a similar kind of experience with any service that they want to employ or any product they would like to get. Due to this demand, even new businesses today are available on most digital platforms and employ the latest technologies to the extent that they can afford to, because it brings the audience and customers closer to them and that can be challenging to achieve without the digital attributes and amenities.
But it is not just the customers that digital transformation will bring closer to an organization or company. It also influences its employees. Technology can play a pivotal role in making employees more effective at work and increasing their productivity by enabling core functions such as accounts, HR and the like to move away from manual processes and automating some key tasks, enabling professionals to focus on wider matters like decisions, planning, and brainstorming work that will in turn benefit the organization significantly. How can that not persuade businesses to go digital?
Another reason for businesses to employ digital practices is that organizations, both big and small, are becoming increasingly reliant on each other - partnering with suppliers, distributors, and consultants across the nation (and the world) with the aim of providing impeccable services that not only satisfy customers, but also surpass those of their competitors. The number of partners of any business can be as large as the number of places the business wants to cover in the world, and the larger the number, the more difficult it can get to maintain relationships, communications and streamlined business flows with all of them. Manual processes in these cases can only be an obstacle to the business and its efficiency. Digital technology practices can help redesign this process and make it more smooth, efficient, accurate and transparent too.
So, the earlier a company or business decides to go for a digital transformation, the better it will aid in its pursuits. By setting a digital process at an early stage and integrating the workspace with the latest essential technologies, businesses stay ahead of the curve and make themselves more available to current or future partners and customers. And with this, the ability to scale also becomes much more efficient as the business grows.
The contemporary slogan for businesses in this digital era can be quoted as “Go digital, or go home!” because this is true - businesses may as well give up hope rather than deciding not to employ the latest digital practices, because without them, it can be imaginably difficult to thrive among competitors who do employ them.
Digital transformation can be the force that moves your business forward – like it is and has been for so many big, small and mid-size businesses to date.