Digital transformation is a foundational change in how an organisation delivers value to its customers. Digital transformation, the integration of digital technology into all areas of a business, essentially changes how the business operates and delivers value to customers. Done correctly, digital transformation enables better collaboration within and between organisations, more personalised customer engagement, higher employee innovation and productivity, and more accurate data insights – all of which help a business grow and give it a better chance of surviving potential disasters like another pandemic.
New value, new services
Every business seeking to grow and stay ahead of the competition in what is now a digital-first world needs to understand its value.
"Digital transformation leverages technologies to create new value and new services for customers and other stakeholders and to innovate and acquire the capabilities to rapidly adapt to changing circumstances. It requires cultural, organisational and operational change through smart integration of digital technologies, processes and competencies across all levels and functions." Werner Herbst, General Manager: Enterprise Compute, Tarsus Distribution
For these reasons and more, it represents a profound transformation of business and organisational activities, processes, competencies and models for any business that wants to fully leverage the opportunities offered by a mix of digital technologies.
Here are some key reasons why digital, read business, transformation is essential for any business looking to grow and stay ahead of the competition.
Keeping pace with the on-demand world
Customers today – whether internal or external – demand the same experience from technology in a professional environment that they have with technology in their personal lives. This may sound challenging, but there are many technology options available, and the right partner can make the transition a smooth one.
Keeping employees productive
In hybrid work environments, employers are looking for new ways to improve productivity. Digital technology plays a vital role in helping employees to become more effective at their jobs, both in and out of the office. Core business functions, such as finance and HR, can easily do away with manual processes and automate key areas like payroll, enabling leaders to focus on more impactful business requirements.
Making security a top priority
One of the biggest headaches for many IT leaders is how to place more data at the edge of their networks while guaranteeing that data is secure. Safeguarding access, ensuring data compliance and shielding networks from attacks are complex and necessary requirements. But even the most stringent security measures are futile if an underperforming network forces workers to go elsewhere for better performance or faster speeds. Digital transformation enables a security strategy to be consistently deployed across all networks, applications and data.
Benefitting from better, faster decisions
Placing data and analytics at the centre of a digital transformation strategy allows businesses to take advantage of big data.
Leveraging AI-based technologies lets companies tap into the potential of big data. With the right set of analytical tools, this data can be converted into valuable business insights that leaders can use to make smarter, speedier decisions, an important advantage for companies in a highly competitive business environment.
Demands from customers are increasing, and competition is fierce. Businesses are becoming increasingly reliant on each other, working with suppliers, distributors, and consultants to produce more products and services that interest customers.
Digital technology can transform how this often complex and time-costuming document-based communication happens. eSignature systems can enable a streamlined workflow that is more transparent, timeous and accurate, helping employees be more effective and productive.
To fully benefit from digital transformation, company leaders and CIOs should engage with technology partners that understand the broader business objectives and can operate with integrity and transparency to enable them to achieve these goals.