Why Your Company Needs Digital Transformation
Have you ever heard the term ‘digital transformation’ and wondered what it means? Well, you’re not the only one.
Chances are, you have already reaped the benefits of digital transformation but you don’t even remember. It’s getting suspenseful now, isn’t it?
In this article, we’ll shed light on this very renowned term of the 21st century and explain why you need it in your business with some examples.
What Is Digital Transformation
So, what is digital transformation, and why should you care? Well, a lot of businesses still haven't incorporated digital transformation in their business because they don’t really understand what it is. Simply put, digital transformation is using technology to enhance businesses processes and customer experience. To understand this better, let’s discuss an example.
Nike, the famous sports gear retailer, used to sell its shoes only through retail outlets in the beginning. Now, customers can not only order their favorite shoes online, but they can also customize them using various graphic design options on the company’s website. Sneakerheads can now make their shoes look exactly the way they want. They can do this by choosing the color, graphics, text, and even the material of shoes. That’s digital transformation!
Next time, if someone asks you, “what is digital transformation?” Give them this example to make sure they truly understand the potential of this digital technology. Boring definitions on the internet do not really convey the real power of digital transformation, but examples do.
Digital Transformation Success Factors
Now that you know what digital transformation is, let’s understand how to actually leverage it successfully. You see, creating a plan to digitize your business looks easy on paper, but it can be a lot more complicated in reality. Here are the important digital transformation success factors that determine whether you’ll be able to use digital technology in your company successfully or not:
- A strong vision and end goal: As a business, you must be very clear about why you want to digitalize your business. Don’t just do it just because everyone else is doing it too. Have a vision of where you want to take your company with the help of digital technology and work towards reaching it.
- A supportive company culture: Digital technology can change a business’s daily processes and operations. Some staff members may find it difficult to adjust to this change. That’s why, for digital transformation projects to succeed, you need to create a culture in which change and transformation are embraced, not feared.
- Digital transformation consultants: Out of all the digital transformation success factors mentioned in this article, this one is the most important one. Digital transformation is a complicated process and if you have never used it in your business before, you should certainly find a consultant who can help you reach your digital goals.
Why Your Company Needs It Right Now
Now that you are aware of the concept and know how to execute digital transformation projects successfully, let’s emphasize the importance of going digital.
Customer experience
There are plenty of stats on credible websites that can affirm the importance of customer experience. It’s simple: happy customers buy again and they also bring new customers on board. Customer experience can be made far better with digital transformation. For example, if your customers’ preferred way of making a purchase is contactless payments. Then you can enable them to do so by installing a contactless payment terminal at all your checkout counters.
The need for on-demand services is growing
Thanks to platforms like Netflix and Amazon, customers now not only know what on-demand services are. But, they are also preferring them over the traditional ones. To meet this demand for on-demand, you will need a digital infrastructure.
Streamlining operations
Companies often leave so much money on the table just because of inefficient processes. The reason: “Well, that’s how we have always run our company.” You must take responsibility to rectify any flaws in your processes and operations. Through digital transformation, you could automate repetitive tasks and let AI handle other tasks. If you do this, your company will need less manpower to run efficiently. And, you’d be able to divert your human resources to other areas.
Digitalized businesses are easier to sustain
Remember the time when governments around the world declared lockdowns? Well, during that time, takeaways and restaurant businesses were allowed to stay open in many countries. However, the businesses that didn’t enable customers to order and pay digitally incurred heavy losses. In the meanwhile, food outlets that had allowed customers to order online and pay without contact remained relatively unaffected. There’s no denying that businesses that have adopted digital technology are less likely to be affected by large-scale future issues, such as a pandemic.
Digital transformation can improve scalability
Who can you sell to if you only have four brick-and-mortar outlets in one city? It’s simple, your only customers will be the locals of that city and some occasional tourists. But if you know how to use technology, you could sell your products and services to any human living anywhere in the world. For example, websites like AliExpress have enabled small local businesses in China to sell globally.
In conclusion, digital transformation is the future. Moreover, the companies that do not know how to leverage technology will be left behind. So, what are you waiting for? Find yourself a digital transformation consultant now, and take your company to the next level.
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