Digital Transformation – The 4th Industrial Revolution

Digital Transformation is a journey of strategic, planned organizational changes. It starts by empowering our teams with new methods to create a highly responsive data driven strategy and a fearless culture of innovation. It’s the right leadership that creates the high performing innovative organization which is delivered by marketers and technologists.

Right now there is a raging tornado of change fuelled by digitalization, mobilization, augmentation, disintermediation, automation and the list goes on. Science fiction is becoming science fact. Think about self driving cars or computers that can learn and think. The way we work will never be the same, BAU (business as usual) in no more the norm. Disruption in becoming the new normal.

Everything that was dumb and disconnected is now wired and intelligent.

Quantum computing fuels Big Data, IoT ( Internet of Things) fuels Artificial Intelligence and deep learning which fuels Robotics.

The fact is, the world is going digital and the change is exponential…yet many businesses are unprepared. The technologies, skills, and processes they have in place do not translate to a digital world. The modern company must transform itself to adapt to the technology and processes needed to outlast its competition.

The big question: What will my business get out of digital transformation? Do the benefits outweigh the time and effort needed to complete the project?

The short answer: Absolutely.

Let’s explore some of these benefits in more detail. While the list could certainly be much longer, here are 5 huge benefits of digital transformation.

• Improved Efficiency : What slows your business down? What road blocks exist in your current processes that harm efficiency? For some, it’s manual data entry. Their systems don’t communicate with each other, so they must manually enter data into different areas. For others, it’s a process bottleneck. One process goes through as a single department, and creates a bottleneck. For instance, reporting still goes through the IT department in many businesses, creating delays. I could go on, as there are a number of areas that could slow a business down. The good news: Digital transformation eliminates many of these bottlenecks to deliver seamless results. When you replace legacy processes with automated workflows, and truly examine your current processes, you reduce friction in your business.
• Improved Decision Making: Over the past few years, we’ve seen a data explosion. As a business, you have access to more data than ever before, and data volumes are only increasing. However, very few businesses actually capitalize on this data. Many lack the tools and processes needed to turn it into meaningful management information. This is where a digitally-driven company has the upper hand. Using modern BI tools, they can take this flow of data and gain insights immediately. This lets them react far faster(and more accurately) than businesses who lack these capabilities.
• Improved Reach: Today mobile makes 24/7 even longer. Mobile devices dominate total minutes spent online – searching, reading emails, browsing and buying. In short, it puts your product or service at your potential customer’s fingertips at any time. Think about it: What if your customers/prospects could learn about your business and make a purchase at any time, and from anywhere? Or, on the other hand, what if they wanted to make a purchase…but your company had no mobile presence? Part of the digital transformation process involves making your business available to your customers/prospects, from anywhere. When your business website and applications adapt to any device, you’re in front of your prospects and customers all the time.
• Improved Customer Satisfaction: It’s true. With the rise of mobile and technology advancements, customer expectations have changed. The modern customer expects simplicity and a seamless delivery like single sign on. Make them jump through hoops, or have an outdated experience and they’re likely to move on. On the flipside, the opposite is also true. You can actually improve customer satisfaction through your digital transformation efforts.
• Improved Profitability: Finally, what happens when you work more efficiently, make better decisions, and improve your customer’s perception of your business? How will that impact your bottom line? The fact is, digital transformation will transform your entire business. If done correctly, it will significantly improve your overall profitability.

How do you achieve digital transformation for your business?

Using proven technologies, marketing solutions and cutting edge – platforms businesses are being transformed by delivering data driven results. Business transformation requires a deep understanding of the unique ways individuals approach productivity. By leaning into the next-gen solutions, game changing businesses can preemptively build the foundation for future success

• End to end web-based solutions: The provider can supply all the software as well as hardware requirements of the customer such that no other vendor is involved to meet the needs. E2E includes installation, integration, and set up.
• Data Driven Results: Being data-driven means choosing to use facts and figures as a compass rather than navigating by sight. Choosing means saying no: saying no to the abundance of numbers available to us and focusing on the “one single KPI that matters”. Facebook made itself famous by focusing on the “monthly active users” KPI where MySpace looked at the number of registered users (source: Facebook’s VP of Growth Gives You Tips on Growing Your Product, Kissmetrics Blog). A data-driven approach will translate your vision into goals and show you how to measure success before observing it.
• SaaS (Software – as – a – Service) : A cloud-based SaaS platform helps IT professionals strategically manage and forecast IT costs. You no longer need to engage an IT specialist to download the software onto multiple computers throughout your office or worry about keeping the software on every computer up-to-date.
• Boost in Sales: It’s tricky to narrow down and find the best algorithm especially when there are hundreds of strategies, trends, and things to test out. Digital marketing tools can be used to increase sales, monitor your results, and boost your overall ROI.
• Cloud Based: The practice of using a network of remote servers hosted on the internet that store, manage, and process data, rather than a local server or  a personal computer helps build efficiency and is the need the hour in this day and age.
• Integrated Marketing: Integrated Marketing is the process of delivering consistent and relevant content experience to your audience across all channels. The ultimate goal through integrated marketing is providing a unified, customer- centric experience that delivers results for your brand.

Conclusion:

The future is about holistic business models. Digital transformation is reinventing businesses and industries as we know it. Every organization including yours now faces a choice between innovation or extinction. Now is the time to start on this change of taking control of this digital journey as it is enabling all types of industries to integrate and digitalize their business processes. The bigger vision ahead is a new era of automation where human intelligence, technology and systems will work in harmony.