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What is digital transformation?
Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. It’s also a cultural change that requires organizations to continually challenge the status quo, experiment, and get comfortable with failure.
Why does digital transformation matter?
A business may take on digital transformation for several reasons. But by far, the most likely reason is that they must: It’s a survival issue. In the wake of the pandemic, an organization’s ability to adapt quickly to supply chain disruptions, time to market pressures, and rapidly changing customer expectations has become critical.
What does a digital transformation framework look like?
Although digital transformation will vary widely based on organization’s specific challenges and demands, there are a few constants and common themes among existing case studies and published frameworks that all business and technology leaders should consider as they embark on digital transformation.
For instance, these digital transformation elements are often cited:
⦁ Customer experience • Workforce enablement
⦁ Operational agility • Digital technology integration
⦁ Culture and leadership
What drives digital transformation?
An important element of digital transformation is, of course, technology. But often, it’s more about shedding outdated processes and legacy technology than it is about adopting new tech. It’s also about enabling innovation.
According to Harvard Business Review Analytic Services—an astounding 95% of executives report an increased importance of a digital transformation strategy within their industry—the highest percentage recorded to date.
PROS WITH DIGITAL TRANSFORMATION:
⦁ Make your business more competitive:
According to the IDG’s 2018 Digital Business research, 44% of enterprises already implement a digital-first business strategy. This means your competitors have probably already adopted new technologies.
Plus, every new player in the market is focused on successful digital adoption in order to put their start-up at the forefront of their niche. More conservative competitors will get left behind.
Well-suited technologies allow your business to be more flexible, efficient, and productive, improving ROI. As far as digital transformation pros & cons go, this is a compelling argument for making technology adoption a priority.
⦁ MAKES YOUR EMPLOYEES MORE PRODUCTIVE
Digital transformation begins with your employees; if their performance is improved by effective use of technology, the performance of the overall enterprise improves.
For both white- and blue-collar workers, automatization of production has historically yielded positive results. Assembly lines, robotization of processes, and AI have all freed up time for more intellectual work for humans.
Modern technology is designed to optimize office processes. For instance, CRMs were originally created to combine and facilitate accounting and client management, while minimizing repetitive tasks in marketing and sales.
These accelerators exist to give employees the ability to fulfill their potential. Even simple programs like messengers or cloud services can boost workers’ performance just by facilitating access to information.
In fact, according to The McKinsey Global Institute, the average productivity of employees increases by 25%.
⦁ ALLOWS YOU TO PROVIDE A BETTER CUSTOMER EXPERIENCE
One of the fundamental principles of business management is to deliver an exceptional customer experience (CX).
The average US citizen spends about 12 hours a day in the digital space. Mining information, getting entertainment, and spending money are just a few of their activities.
The obvious answer is to be there in that space for your clients, facilitating their path to purchase with a seamless user experience of your digital platforms.
Digital transformation allows organizations to meet their customers’ needs better through clever use of technology.
Whether it’s through a better website, new app, or other digital offering, smart technology coupled with rapid customer adoption is the key to CX success.
CONS WITH DIGITAL TRANSFORMATION:
⦁ NEVER – ENDING CHANGE
As far as the negatives of our digital transformation pros & cons goes, this one is unavoidable. Technological progress is, for the foreseeable future, unending. That means your digital transformation must be an ongoing process.
The digital market is fast and furious in its evolution. According to Forbes, the governing trend in 2019 is steep growth in the IT industry. This should come as no surprise to anyone.
When new solutions based on scientific breakthroughs invade the market you must be ready quickly for further digital transformation.
⦁ EFFECTIVE IMPLEMENTATION OF NEW TECHNOLOGIES TAKES TIME
While most of us already know how to use smartphones or send emails, adopting new enterprise management solutions takes a little more time and effort.
The Telegraph reports that one of the most pressing issues for entrepreneurs is finding the right technology. Indeed, implementing too many optimizing platforms can result in chaos.
Finding the most suitable tools for your business takes research and testing time. There is the adoption time it takes to train employees how to use them effectively. For this, a digital adoption work set is highly recommended to accelerate time to competency and which we will offer to you.
⦁ CAN CAUSE UPHEAVAL & UNCERTAINTY FOR EMPLOYEES
The burden of constant digital changes falls onto the shoulders of your employees. While 87% of employees claim they’re ready to learn new skills, every person has a different tolerance for stress factors.
Therefore, a personalized approach is required when training employees to use digital tools.
Using traditional training methods, this is prohibitively expensive and a logistical nightmare. However, using a digital adoption working method, employees can receive personalized training in real-time, without leaving the system they’re using.
In this age of constant digital upheaval, it’s important to provide workers with the support they need to feel motivated to give 100% and feel secure in their jobs.