With technology disruptions becoming more rampant than ever, digital transformation is changing the way companies operate. Whether it is better data collection or improved customer experience, businesses have realised the importance and benefits of digital transformation. Growth opportunities and competitive pressure are some crucial drivers of digital transformation. Data breach scandals making the headlines regularly and new regulations such as the GDPR are also providing the necessary impetus for businesses to digitally transform.
What is digital transformation?
Digital transformation refers to ways through which businesses adapt or reinvent their customer offerings using technology. This may include new ways of engaging customers, selling products or services, or automating workflows and processes to improve customer experience. At the core of digital transformation lies the values of productivity, high speed, scalability, and agility.
Digital transformations may look different for different companies. It is unique for all companies, depending on their offerings, goals, and company values. Digital transformation is a journey that encourages companies to introspect and identify opportunities for improving their people, technology, and processes.
What are the pillars of digital transformation?
According to Harvard Business Review, there are four pillars of digital transformation.
IT uplift
For most companies, digital transformation begins with upgrading their IT infrastructure, cloud, and databases. Digital transformation, for many companies, is also the opportunity to modernise their IT and communications systems. Upgrading your IT systems helps improve employee efficiency, and employee satisfaction, and lowers maintenance costs.
Digitizing operations
Digital transformation can also be used to simplify and optimise current processes. Companies may consider automating manual processes to save time, money, and resources. Digital tools, including those powered by Artificial Intelligence (AI), Machine Learning (ML), and Internet of Things (IoT), can be used to streamline business growth.
Digital marketing
Digital marketing is the pillar of digital transformation that helps you find online solutions to find new clients and build brand awareness. It is a cost-efficient way of targeting the right audience to build brand recognition and increase revenue.
Digital businesses
Digital transformation provides the foundation for creating new digital businesses. It may also provide opportunities for creating new business models, products, services, or new sources of growth.
How do you successfully implement digital transformation?
Digital transformation is no longer a choice, it is a necessity. Here’s how you can successfully implement digital transformation in your company.
Identify the digital capabilities you need
Digital transformation looks different for different companies. Start by identifying the digital capabilities that will benefit you immediately. For instance, if you run a contact centre, you may immediately benefit from a chatbot solution.
Eliminate isolation between technology, operations, sales, and marketing
Organisational silos may often hinder companies from making the most of the opportunities. By bringing together employees from different departments, you can get ideas that are both pragmatic and contextual. Such thinking can be very useful in implementing new methodologies for software design and product development.
Understand the customer’s perspective
In a rush to digitally transform your office, don’t forget the customer. Do what you can to understand what your customers want or need. It will help you identify what technologies you would like to invest in.
Get the basics right
Digital transformation is an ongoing process. Before you get the process started fix your basic technology first. For instance, you could build a stable and fast-loading website. You may also work on properly defining your processes and planning your projects so that digital transformation is implemented efficiently.
Craft a roadmap
Digital transformation is not a one-time exercise. It is a journey. Create a roadmap to make the journey easier. For example, you can determine which projects can be run parallel. You may want to run those projects in tandem that are dependent on each other. A roadmap will also help you determine the resources and skills you need for each project.
Online companies are at the top of the food chain. Digital technologies create revenue opportunities. If you haven’t yet transformed your company, it is time to start now. Contact us by email on info@imovo.com and book a meeting with one of our digital transformation experts and together we can plan your strategy for success.
