Digitisation continues to accelerate at a fast pace. The business organisations of all sizes, from all over the globe and with different industrial backdrops are willing to make huge investments in digital transformation services. The transition was earlier confined to creating digital properties like websites and mobile apps, buying business management software solutions and creating a strong online presence.
However, with the technologies like artificial intelligence, data analytics, blockchain, internet of things and robotics process automation expanding the digital transformation framework like never before, every organisation needs to think bigger and beyond legacy IT systems. Some of the most recent statistics claim that:
- 70% of the global business executives have already integrated blockchain and AI in their supply chain
- Nearly 45% of the business executives agree that digital transformation can drive revenue growth
- Nearly 35% of the companies claim to have undergone a digital transformation of some kind
- More than 80% of the companies that have undergone digital transformation agree to experience an increase in profitability
So, it is the right time that you have decided to know how digital transformation is a necessity for your organisation. The following discussion provides you enough number of reasons for this.
To gain enterprise agility
Responsiveness is what is expected from a modern-day organisation and it can’t be achieved through reliance on the outdated and slow on-premise IT infrastructure. Taking your enterprise’s entire workload to cloud technology is what can truly help it stay agile and respond dynamically to change.
Imagine if rather than devoting time, money and efforts in procuring and maintaining resources, you focus on the core business activities? Cloud participates in digital transformation by helping enterprises automate scalability and increase their operational efficiencies even during events like natural calamities.
To Improve Customer Experience
Customers are expecting a lot from digital technology not only to improve their lifestyles but also while interacting with businesses and brands. They are more inclined towards brands and businesses that are digitally competent to ensure greater customer satisfaction. Technologies like big data and data analytics allow an enterprise to know their customers and their needs and expectations and create personalised experiences.
In addition, a multi-channel multi-device experience empowers businesses to serve and retain their customers in a better way. Blockchain is another digital technology that has the right potential to drive unmatched customer experience through absolutely transparent transactions and smart contracts.
To enhance employee efficiency
Just like your customers, your employees also seek great experience while being associated with your enterprise. By adopting digital technologies like robotics process automation (RPA), your organisation can turn into a better workplace. For example, RPA allows software robots and human workforce to go hand in hand to handle the complex activities ranging from human resource management to customer services as well as sales and marketing by taking automation to e new level.
It not only increases employee productivity but also brings in increased accuracy and better strategic planning and implementation. Digital transformation also allows improved and faster collaborations among employees from different departments and those working from different office branch locations.
To boost security
Many enterprise owners see security as a challenge while embracing digital transformation. The fact is that if the transition is done with the help of expert IT consulting services, it can lead to increased security for an enterprise in a number of ways.
One good example is that of cloud computing which offers protection against unauthorised breaches as well as distributed denial of services (DDoS) attacks. Blockchain is also considered as a highly secure technology which resists frauds and hacking attacks by decentralising the information and data.
To add value to decision-making
In an enterprise, decisions should be made on time and based on extensive analytics and reporting. Digitisation helps in real-time gathering as well as analysis of data and information that helps the executives to make crucial decisions like when to launch a new product, what features a new product or service should offer and which segments of the audiences need to be targeted.
The Internet of Things (IoT) and machine learning are examples of digital technologies that make the humungous task of collecting data from relevant sources simpler. Using data analytics procedures, this voluminous data is analysed to extract useful information that helps enterprises in making fruitful decisions.
To be competitive
Digitisation addresses every key component of an enterprise’s eco-system. Be it the need to improve operational efficiency or to improve customer engagement and retention, everything is achievable through digital transformation. And when an enterprise accomplishes these goals, it automatically gains a competitive advantage over its rivals.
A digitally transformed business is more competent in adapting to the changing market trends and embracing innovations to deliver unique products and services to its targeted audiences. Moreover, the use of cloud and other technologies reduces the time to market. Another good example is that of artificial intelligence that helps to deliver a personalized customer experience which is a proven strategy to beat the competition.
To reduce costs
While thinking about digital transformation, you might feel worried about allocating the budget to support this transition. You should rather be familiar with how adopting digital technologies can help you cut down costs in a number of ways. For example, migrating to cloud saves the costs of maintaining physical infrastructure and hardware for servers, data centres and data storage.
Blockchain technology also helps in cost reduction by eliminating the need for third parties and middlemen from the supply chains. As your enterprise begins to extract value out of data, offer great customer experience, improve on employee productivity and achieve other tasks, its revenues are bound to surpass the investments made in adopting digital transformation.
Remember the simple fact that the new entrants to the market come equipped with digital technologies. So, your enterprise has to face competition from them as well as from those who are rapidly deploying digital transitions. To survive, you must have the right digitisation strategy at the place with the help of a digital transformation services provider.