As digitisation keeps on leading radical changes in the world of business, digital transformation must be part of the agenda of every organisation. Technologies advancements like the cloud and real-time big data are revolutionising the ways in which companies operate and make decisions however, new business and IT models need to allow this digital transformation to happen as expected. Standard business applications are no longer equipped to keep up with the speed of business: digital transformation includes adaptive applications that can be quickly customised to fulfil the evolving business demands.
At the core of digital transformation is the confluence of four profoundly disruptive technologies—cloud computing, big data, the internet of things (IoT), and artificial intelligence (AI).
It is nearly impossible to know what these innovations will look like at the end of an evolutionary period like digital transformation. It is the process of rapid innovation, constant learning through experience, and reiteration along the way that will make the difference between thriving businesses and unsuccessful strategies. Companies that figure out how to breathe big data—how to harness the power of this new resource and extract its value by leveraging the cloud, AI, and IoT—will be the next to climb out of the data lake and master the new digital land.
The ability to digitally reimagine the business is determined in large part by a clear digital strategy supported by leaders who foster a culture able to change and invent the new. While these insights are consistent with prior technology evolutions, what is unique to digital transformation is that risk taking is becoming a cultural norm as more digitally advanced companies seek new levels of competitive advantage.
How can the use of data and software transform the way we do business?
The challenges that digital transformation can help overcome a business are:
- Information accessibility
- Centralised data
- Risk of data losses
- Process and documentation
- Support and maintenance
- Adapt the platform to the users
- Migrate files and documents
The business world is extremely competitive as every organisation strives to fulfil costumers’ demands. To gain a competitive advantage is key to embrace and cooperate with digital transformation and the advanced tools now available. Working with innovative and cutting-edge software along with data analysis tools can be truly revolutionary for any business, experienced or not. Do not miss out on operating technologies that can simplify your business processes, saving you time and resources.
How to create a digital transformation strategy for your business
Studies demonstrated that asking yourself the following questions, will guide you towards creating an efficient digital transformation strategy
- What is the long-term objective?
- What do we need to do first?
- What knowledge do we need?
- What skills do we have and need to do so?
- Why did we see a need to transform?
- Who can validate this?
- Who do we need to involve?
- Who can contact who/what?
- Who can help with gathering insights?
- How do we bring various ‘informers’ together?
- How is the customer involved?
- Have we involved the right ‘external’ parties?
Taking the lead with digital transformation is highly rewarding but it is also a long process which requires knowledge, skills and guidance. As mentioned in some of the questions above, it might be recommended for some businesses to gain support from external agencies.
What are the benefits for your business?
A valid digital transformation strategy can provide more seamless ways to complete purchases and provide substantial cost savings with the digitizing of manual tasks. For companies, a digital business strategy is viewed as means of transforming their business, streamline processes, and making use of technologies to enhance their interaction with customers and employees, and deliver excellent customer experience at the same time.
Benefits include also:
- Business process are automated
- HR improvements
- Streamlining financial systems
- Gain competitive advantage
- Obtain more potential from existing investments
- High responsiveness to internal and external client requests
- Strong information governance