What is Digital Transformation?
The integration of technology into all aspects of an organization, radically altering how it operates and provides value to customers, is known as digital transformation. Recently, it has revolutionized the delivery of products and services among various industries.
Several variables contribute to the emergence of digital transformation. One of these is the recent COVID-19 epidemic, which has accelerated the pace of digitalization in businesses worldwide in 2020. Customer demand and the necessity to keep up with the competitors are some other reasons why business processes need to change.
Implementing useful technology makes businesses more nimble in responding to changing markets and increases innovation, making them more robust.
Why Do You Need Digital Transformation in Today’s World?
Global investments in digital transformation are expected to rise by $2.4 trillion. The United States is the most digitally competitive country.
Improved Customer Satisfaction
A one-point increase in customer experience can generate millions of dollars in revenue. Digital transformation focuses on personalized user experiences with multiple options, reasonable costs, and quick delivery. It also offers customers control over how you control their data and enables them to make data-related decisions.
Increased Employee Productivity
Automating redundant tasks promises better efficiency, lower employee turnover, and increased engagement. With digital transformation, a flexible work framework ensures better workflows for your team and allows you to keep a check on your mental, social and physical wellness.
Cost-per-transaction reductions and greater sales are two benefits of optimizing corporate technology. Operations around digital technologies decrease inventory costs, operating costs, and increase revenue. Digitalizing information-intensive operations cuts up to 90% of costs. You’ll also see significant time savings, allowing you to utilize resources and concentrate on your main business goals.
Digital transformation seeds the spark of imagination that leads to the invention of new technology or novel applications of current technology. This transition in digital culture is critical for firms to evolve and remain viable. It necessitates team members’ upskilling and online learning to reap the real benefits.
Improved Competitive Advantage
A 2018 study by Harvard Business Review states that over 60% of businesses may outperform their prior achievements by migrating to cloud-based apps. With digital transformation, you can better collaborate within and between organizations and strengthen your business partnerships. Better customer satisfaction, improved employee productivity, and an innovative digital shift in culture ultimately provide a competitive advantage.
How Does Digital Transformation Take Place?
The process is meant to make the customer experience seamless. It takes place via the following steps.
- You will first identify why your business needs transformation and integrate technology within your ecosystem. This will require breaking silos and incorporating a change in your company culture.
- You will provide a user experience that works regardless of time and place. It occurs via offering services that stay functional anywhere, anytime, and on any device.
- Next, you will apply high-end technology such as Blockchain, DevOps, Cloud, Machine Learning, Artificial Intelligence, and the Internet of Things to improve service value, efficiency, and innovation.
- You’ll cultivate an agile mindset and establish a learning organization. You should also be familiar with digital anthropology. Understanding the relationship between humans and digital gadgets will help you deliver highly customized service in the context of the customer.
What Are Some Successful Examples of Digital Transformation?
One example of digital transformation is implementing real, customer-centric solutions like mobile applications or websites that make your business visible online. Others incorporate machine learning algorithms to convert a traditional firm into a digital one.
Considering environmental factors, Tesla is producing electric and autonomous cars to alleviate the dependence on fuel.
With a unique digital technology for 3D printed metal, Desktop Metal is changing production status. Moreover, automobile manufacturers have already invested significant money into this new technology.
Facility Management System (FMS), Warehouse Management Systems (WMS), Digital Asset Management (DAM), Customer Relationship Management (CRM), and marketing resource management (MRM) are some worth-mentioning tools that have transformed the marketing industry.
What will your digital transformation journey look like?
Digital transformation can be overwhelming. Most significantly, it can cost you thousands of dollars without generating the expected revenue if not carefully managed. DEHA offers a wide range of services, including UI/UX design, DevOps and Cloud, Product management, Web & mobile development, and quality assurance, so you make the most out of your transformation journey.
If you are just starting, DEHA will validate your business idea by checking its feasibility through POC development. Our team will also allow you to visualize your product design via our prototype management service and help you with scaling.
Whether your company is well-established or just a startup, DEHA affirms its growth with proven digital innovation. Reach out to us for a free consultation and get your transformation journey started!