According to the latest by Harvard, an upwards US$1.3 trillion was invested in digital transformation in 2018 and its likely to cross $2 trillion in 2022. But a many businesses fail to understand the actual meaning of Digital transformation for their business. Its not just about investing money in tech, Digital transformation is also about developing strategies, executing and addressing the challenges and opportunities associated with it. The practice of Digital transformation is enabling companies to leverage enhanced technology to improve their business capabilities, operational efficiencies and ultimately, their customers’ experiences. If companies approach digital transformation in a structured, timely way, they can gain benefits that could give them an improved competitive advantage over their competitors.
The one thing everyone agrees technology has done to the world is it has made it extremely smaller than it was yesterday, and it will be much smaller tomorrow. It has completely changed the way we communicate with each other and how we organize work. As a result there has been a huge paradigm shift in the way customers communicate with businesses due to the rise of social media platforms and web-based solutions for sales. The world has shrunk with digitization and so have the markets! International competition has entered the same space as domestic competition. No corner of the world is too far away for business now!
There are several key advantages in the adoption of digital transformation solutions. Some of them are discussed below:
Coming from an IT company we can say for sure that having proper IT tools that operate together can help you enhance productivity and optimize your workflow to the next level. It allows your team members to work more efficiently by automating many tedious procedures and connecting data across the organization.
Take Meaningful data-driven decisions
For any organization the data collected over time is the most valuable asset in their hand and it must be utilized to its full potential. Digital transformation creates a method for acquiring the relevant data and properly integrating it for higher-level business insight. And by integrating insights based on trustable data, organizations can improve their revenue by focusing on the key areas which are crucial instead of putting efforts into areas that are not of customers interests.
Enhanced customer experience
Every business is trying hard to keep up with ever growing customer expectations. Today it is far easier than ever before for consumers to explore alternatives to meet their needs. That is why each company has to make extra efforts to ensure that their customers stay with them. It will be possible only if the company digitally transforms itself to cater to its customer expectations.
Better collaboration between teams
It’s no secret that for a business to flourish each and every employee must be on their full potential and to achieve that everyone must be on the same level. Regular, clear, and transparent communication between different departments is a must in any organization. Everyone must be responsible for their little role in the day to day exercise. A centralized system where all the information/updates are dumped by each team member helps to keep every one on the same track in accomplishing a common.
After coming across various businesses and helping them shape their company and transform digitally to grow we can confidently say that many organizations are in different places on the road to digital transformation. If you are feeling stuck in your digital transformation work, you are definitely not alone. One of the hardest questions in digital transformation is how to get over the initial humps from vision to execution. Let’s face it Change is Hard, it creates angst. Many CIOs and organizations think they lag far behind their peers on transformation.
At Xalcontech, we work tirelessly with our clients, helping them to transform their business without disrupting their routine and help them leverage the power of the dynamic digital era. We offer strategies and solutions in the form of consultation, recommendations, and implementation services. If you are looking for a helping hand or a strategic partner for you vision in transforming your company then feel free to get in touch with us on email id: firstname.lastname@example.org.
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