How Businesses Can Implement and Benefit from Digital Transformation
Technological advancement is constantly changing the way of doing business. From production to packaging and marketing to sales, new improved methods and mechanisms keep coming up to make things easier. These transformations seem timely considering how complex running a business has become. With the increased competition, changing customer demands, and emerging market trends, it behooves businesses to keep up with the pace or lose out.
However, some organizations are still holding on to some traditional methods and are reluctant to fully integrate digital technology into all areas of operation. Several reasons including past failures, lack of technical know-how, personnel, and finances may account for this. And undoubtedly it can hugely affect operational efficiency, and competitiveness, and curtail business development. Employing digital transformation is therefore a must for the growth and success of every organization. Through it, businesses can improve or create new business processes, improve customer experience and drive, and increase marketing and sales prospects, etc. Let’s look at how businesses can implement and benefit from digital transformation.
Table of Contents
Benefits of digital transformation
With the right tools, software, and strategy, digital transformation can immensely transform a business’s fortune. This may seem a daunting task to undertake both financially and having your workers adapt to the new normal. It is therefore best to start small and gradually improve on whatever you have. Even at the small level, a properly executed digital transformation will.
Improves work efficiency
Work efficiency is critical for the growth and success of every business. By hiring the right personnel and introducing the right technology, organizations can do more in less time. With this you save time, increase production and save money. One way to use digital transformation to achieve work efficiency is to integrate automation into your business operations. From invoicing to payroll management, you can automate almost all administration tasks with the right software.
For example, instead of manually computing your stock and sales, you can use a programmed excel sheet to achieve quick results. You can also save all created files on the cloud for easy retrieval everywhere you go. This allows less time to be spent on such duties, increasing efficiency by saving time.
At the production line, digitizing some of your operations will speed up production (producing more in less time), while making work easier for the workforce.
Organizations can also implement digitization in marketing and sales with the use of social media and other digital media for their marketing campaigns. It is one of the efficient ways to reach more customers, turn leads into sales, and improve revenue.
Successful implementation of digital transformation increases operational efficiency, which automatically boosts productivity. Employees become highly engaged; make quick informed decisions through sharing innovative ideas and collaboration when using technology. This collaboration leads to high productivity.
But, to achieve this, the tech you introduce must focus on and address employee needs. You should provide in-house skill training for workers, so they can effectively use the provided tech. If a specialized workforce is required, recruit new professionals.
Boost data security and network performance
With technology, you can boost the data security and network performance of your business both internally and externally. As you automate most manual processes, store data on the cloud, and use other cloud-based applications, you need improved network performance for smooth transitions. Investing in the latest technologies like SD-WAN application help businesses to increase network performance and save cost. Companies can have the luxury and flexibility of accessing multi-cloud services with SD-WAN applications.
As you improve network performance, be cognizant of the security threat digital threat some digital tools come with. Big and small companies suffer a lot of cyber security threats, including ransomware attacks and data loss. The good news is that technology has solutions for such threats. You can rely on competent cybersecurity companies that meet your specific needs or offer more. With this investment, the company will be highly safe from data theft, and cyber-attacks.
Enhances customer experience
Building good customer relationships and experience is a lifeline to every business. Note that, business thrives on its customers. But satisfying customers and meeting their needs have even become more challenging, because of the highly competitive business environment. With more businesses coming up, and each needing customers to survive, you need to go the extra mile to maintain the loyalty of new and existing customers. Customer satisfaction and experience are key ingredients here.
By using customer relationship management (CRM) tools, companies can build and offer excellent customer experience. CRM system helps in managing relationships and interactions between companies and their customers and potential customers for business growth. It helps in customer contact management, marketing, and sales management, and measures agents’ productivity. HubSpot, Zoho, Freshsales, Salesforce Sales Cloud, Mailchimp, etc. are all CRM tools businesses can use for an improved business-customer relationship.
Aside from that, you need to train your employees to provide excellent service. Responding to customers’ complaints and providing them with the necessary assistance is key. In addition, take customers’ feedbacks, which can help you make strategic changes in your business operation.
Helps in product generation
With the changing taste and demands of customers, a company’s survival depends on how innovative they are with products and services. The product must always meet the customers’ needs. But how can a company determine that? Taking customer feedback is one of the best strategies. That aside, market research and surveys help to determine customers’ needs, which can also be done through digital means. The feedback can help you produce a solution that meets customers’ current demands. Always test your results before going full scale.
Communication is another key ingredient for business growth and development. From internal to external communication, you need formidable strategies and tools to execute them. Effective internal communication (communication between the workforce and management) contributes to achieving set goals and targets. Management can enhance this by encouraging the use of collaboration tools like project management software, intranets, and instant messaging tools among others. Enhanced communication among employees boosts productivity.
You can apply the same strategies for your external communications (communication between suppliers, customers, business partners, potential investors, etc.) Video apps like Skype and Zoom can be used for business meetings and conferences.
Lastly, digital transformation can boost your competitiveness or put you ahead of your competitors. In this challenging and competitive business environment, every serious company is trying to find the best way to become a market leader. With the effective use of digital tools, you can surely be on top of the game. There is a tool for almost all business activities. For sales and marketing, you can employ digital marketing strategies and tools like using social media campaigns to reach customers and potential ones. You can set up online shops to improve your global reach, sales, and revenue. Just build your employees’ capacity in using such tools, be proactive in your approach, and make customers a central part of your business.
How to implement digital transformation
Digital transformation has numerous benefits as seen above. However, any wrong implementation can be disastrous to a business. Some businesses have tried but saw no improvement because they weren’t strategic in their approach. Here are a few ways to implement digital transformation into your business.
Choose the right tech
The purpose of implementing digital transformation is to address existing challenges or upgrade existing tools. So, choose the right tech that fits for purpose and suits your business size.
What you choose must
- improves your business activities and makes work easier
- Meets your business size and needs, i.e. can take up tasks without slowing down.
- Fits your budget
- Be a new tech
- Easy to integrate into the business
- Easy to learn, use, and adaptable
- Compatible with existing tech
- Can be used for a longer period
- Addresses employees’ challenges
Involve your employees in the process
You will rely on your employees to operate whatever new technology you introduce for business development. As such, inform them about your intentions before you even negotiate with the tech vendor. Tell them why the business needs such tools and how it will benefit them. Also, adopting the new technology may create work redundancy; hence, require that you lay off some workers. Those who will be affected should be informed and compensated if required.
Upgrade employees’ skills
Technology keeps changing; so, the tools you were once familiar with can be challenging to use due to upgrades. So, businesses must always train their workforce when introducing new technology. Some tools and software may also require specialized skills. You may have to hire new personnel to perform those tasks.
Implementing digital transformation at once across all sectors can be disastrous to your business. Pilot it, and give yourself time for total rollout. Once the employees are familiar with the tools, you can do a wholesale implementation. Throughout this period, you can still keep some manual files and documents, in case of any setbacks.
In this competitive business environment, survival of the fittest has become a norm. Currently, you need to do a lot more to achieve just a little result. That is, you need consistency and strong strategies to achieve business goals and counter your competitors. Digital transformation is one of the strategies to help you achieve growth, stability, and intended expansion. Make employees central in this transformation agenda, and they will propel you to your goals.
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