In this rapidly growing digital age, businesses need to be updated regularly with the changing trends and innovations. The overall effect of technological development and digitization results in digital transformation.
Digital transformation involves the amalgamation of digital technology into all fields of business-like employee management, product management, project management, task management, cloud computing, internet of things etc., From small business firms to the enterprise begin incorporating digital transformation (DX) to improve the performance of the business in a more efficient and effective way.
It’s not about the technology that drives success for the business. The changing business process by understanding customer behavior and external factors drives success. The key elements with which the companies are digitally transforming are as follows,
1. Customer Understanding – Many companies have started exploring social media, analytics, and other online communities to understand what makes the customer satisfied, happy and the factors that force them to get dissatisfied. With this digital transformation the companies started promoting their brands more effectively through digital media. To get in depth detail on customer behavior and various external environmental factors, many companies started exploring analytics. This helps the companies to get an understanding of customer behavior and expectations.
2. Top-line Growth – Enterprises and other organizations have initiated the use of digital transformation services in their business to enhance in-person sales interactions, innovative selling methodologies, personalize customer service and transform the customer experience. The companies have started exploring new digital transformation framework for their digital selling innovations. Some companies strive to make the lives of the customer easier by simplifying their business process through various digital initiatives.
3. Customer Touch Points – Several companies have started offering self-service to the customer using high-tech digital tools such as augmented reality, geo-location, and social media integration. These digital transformation services save the time of the customer and in turn boost the productivity of the company. Through these services, the companies strive to enhance touch point services and deliver integrated user experiences by offering customized applications.
4. Process Digitization – Digitization enables companies to convert their traditional data into digital format by adopting digital transformation tools and services. The conversion of information and digital change is done via automation. Automation enables companies to refocus on their targeted people. This allows the companies to focus on the innovative and creative way of enhancing the profit and improve product quality.
5. Engaged Workforce – The traditional workspaces are transforming into a virtual medium, which enables the employee of the organization collaborate with each other and the networking tools aid internal communication with everyone in the company. Employees can adopt this digital transformation easily and share knowledge, identify experts and solve problems at ease.
6. Performance management – The digital transformation systems give the company executives a deeper insight into the understanding of the products, customers, their regions which aids in making better business decisions based on real data and not on any assumptions. This applies to both internal and customer-facing processes. Performance management gives us the detailed data which help us to compare our efficiency cross the sits and provides us strategic decision making.
7. Digitally Modified Business – Current business trends involve combining the digital insights with traditional products to recreate a new growth approach to business and promote the business to achieve success. The use of digital tools and techniques makes the content shareable across the organization aids in developing a successful digital business.
8. Pursue Digital Business – Companies have initiated new business models by transforming their boundaries through digital tools. This aids the companies in selling digital products which could replace the traditional products.
9. Digital Globalization – Companies are transforming from multi-national companies to truly globalized companies. Digital transformation aids integration of information with digital technology to increase the coordination and share of knowledge between the global employees. This digital globalization promotes efficiency, locally responsive, reduce risks and enhance global flexibility.
Digital transformation is the ultimate challenge to every organization which greatly influences the productivity of the businesses. Whether it is an individual business, small business or corporate level business, by incorporating digital transformation for integrating processes, technology and other high – level aspects like automation, makes the company, firm or an organizations stand-alone from other competitors.
“Digital Transformation – Rebirth of Business Towards Success”