According to Gartner, “By 2020, the average person will have more conversations with bots than with their spouse.”
Digital transformation involves remodeling the business strategies to make them more agile and innovative. Digital transformation strategies has been revolutionizing the business world and executives all over the world are struggling to meet the challenges of a digital disruptor to engage the customers and stream the internal processes. Digitization has a huge impact on the legacy businesses by disrupting existing business models and making the organizations ready for adapting the latest external competitors, industry trends, and the new technologies. Modernizing and digitalizing your current business processes can have a huge impact on the way you do business.
What is Digital Transformation all about?
Some companies choose to implement new technologies first and then check if any changes are needed to be made in their existing business processes. This often leads to a lack of results. A technical platform, no matter how advanced may be, cannot achieve the expected results on its own. Some fundamental changes within an organization may be required to get the desired results.
Charles Darwin stated, “It’s not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change”.
Almost every business aims to deliver a good digital business experience to its customers as well as employees. This requires the use of new and most advanced innovative business applications. Digital transformation solutions not only allows businesses to embrace these technologies but also has a huge impact on the organization culture. Implementing digital transformation is all about accelerating business activities, improving time to market, lowering the costs, and bringing about a positive change in the culture and competency models inside and outside an organization.
From Digital to Business Transformation
The business processes move away from the legacy systems as they adopt IoT, BigData & Cloud, technologies, and more. They add value to your business, lower the cost and efforts, and deliver better results effectively. IDC estimates that enterprises would be spending in excess of $2 trillion by 2019.
According to Forrester’s Nigel Fenwick, all companies worldwide would either be digital predator or prey by 2020.
Management should take some of the important decisions to embrace the new technologies. Some of them are:
- Changes within the organization including the creation of a digital office
- Changes to sales and marketing strategies
- Organizing marketing campaigns
- Changes to the production and supply change
Then there’s another factor that comes into the picture: Customer Behavior. No business would like to compromise on customer service. When a customer has some expectations for your business, you should focus on catering to the right services to offer a delightful experience to them.
Digital Transformation changing the shopping trends
Today’s 3D and visualization technology has a huge impact on FMCG and retail sector. It becomes easier for the customers to make better decisions by using 3D visuals for the products. Visualization and augmented reality can provide a system to “walk through the home” and make informed decisions about buying a house. Isn’t that amazing? Interested buyers can experience a walk through the property virtually. Men and women can try different outfits with the help of visualization techniques to make the right decisions while shopping online.
Before and After Digital Transformation for a Retail
Before Digital Transformation
Before the world knew about digital transformation, the purchase data across various shopping platforms was captured manually and the prices varied significantly. Real-time purchases were not possible then. Companies had to spend a lot of time to demonstrate the traceability of the orders to the customers. Real-time tracking and warehouse utilization were not possible. Sourcing data was a time-consuming and error-prone process for most businesses.
After Digital Transformation
It started with live tracking and reporting to help businesses provide quick responses to customers. Better monitoring of the supply chain helps customers get real-time insights for their orders.
Making Transformation a Success
Each organization leverages the most advanced technologies to transform their business. A digital business transformation is no longer an option, businesses should start embracing it to stay competitive in the market.
Let’s talk about some of the things your company should focus on while making such changes:
Connect old and new technology
One cannot just discard the old technologies and adopt the new ones. It is important to understand that the new technologies sync with the current workflows and processes. New-age technologies should work with your existing principles to improve the efficiency of your business.
Establish a new culture
The digital transformation would fail if your employees don’t believe in it. Some training and continuous learning opportunities are required to let your employees understand the digital transformations and their impact on the business operations. Make sure that the employees are provided with the right knowledge and skills
During the transition, you may need to ensure a smooth coexistence of two different models. For instance, your existing legacy system may need to work with the new digital software to sync the data. Organizational leaders should communicate with the concerned employees and discuss all the possibilities and expectations so as to minimize disruptions.
Make digital everyone’s job
Business owners should ensure that all the employees working in your organization embrace digital technologies. Make the employees indulged in some form of digital activities relevant to their respective projects so that they understand how the technology works.
Digital Journey never ends
The next ten years would be the greatest technology expansion and we would see a great digital transformation in different sectors. Digital technology will revolutionize industries and bring new opportunities.
If you haven’t adopted digital transformation for your business yet, you’re surely losing a lot. Get in touch with us now and we shall be happy to guide you on how the latest technologies can be integrated within your business processes to maximize the efficiency.