In this hyper competitive global market, businesses have to become efficient in the organisational operations and processes so that they can maintain their competitive edge.
Digital Transformation is the process to transform the way business functions as newer technologies are adopted at departmental and operational levels to improve the operational efficiency.
Digital Technologies impacts the functioning of departments directly and helps in automation of manual tasks so that employees can work on tasks which are more valuable and requires critical decision making.
One of the main goals for any leading organisation is to always stay ahead of competitiors in terms of adoption of latest technologies which isn't a very easy feat to accomplish as top to down adoption requires intensive capital, time and planning in implementation as well as the stokeholders need to be ready to get re-trained and to adopt new processes as most of the times business processes have to be altered/ rewritten entirely to optimally digitalise them.
Digital Transformation directly impacts the top/ bottom line as the organisations observes increase in revenue, significant costs cutting as a result of automated and improved processes.
Some use cases of digital transformation:
- Businesses these days are sitting on gigantic amount of transactional/ customers data and getting insights from those can lead to immediate strategic changes as well as growth in profits.
- Analytics is another function which can impact the top line of any business almost immediately. Historical data can be used for trend analysis as well as forecasting which can help in optimising the demand/ logisitics and thus operations would get more efficient.
- Implementing Cloud organisation-wide can lead to huge increase in productivity as that's the most reliable to way to store data which can be accessed by global teams. This also helps in preventing critical data loss because of natural calamities so less amount of efforts needs to be put on disaster management and recovery mechanism. Cloud also helps in collaboration among the workers so they can work on the go and there is no time wastage during the commute.
So if you have been wondering about Digital Transformation until now, it's the time when you start researching about it and kickass your organisation's Digital Transformation Journey.