Digital transformation is about how organizations leverage the latest technologies to improve the way they operate, including the products and services they offer, the means by which they interact with their customers and employees, and more. Digital transformation is not a one-time process, but an ongoing process that requires testing new ideas and technologies, monitoring outcomes, and adapting operations accordingly. There are three main areas that digital transformation that can help to improve your organization, which are;
Customer experience: Understanding your customer’s needs, using technology to expand your customer base, and improving the ways in which you communicate with them, will go a long way in keeping them happy.
Operational processes: Refining your internal processes through automation and monitoring outcomes will enable you to make better business decisions.
Business models: Ensuring that your business models are up-to-date and aligned with the evolving technological landscape will give you a competitive advantage.
Why is Digital Transformation Important?
As mentioned above, businesses must keep up-to-date with the latest technology in order to remain competitive in their industry. However, when talking about managing a successful organization, there is one principle that holds true, which is, that visibility is key! After all, you can’t control what you can’t see.
As such, perhaps one of the greatest benefits of digital transformation is that it makes information more accessible, which in turn makes it a lot easier for organizations to accurately assess the effectiveness of their strategies. Automating as many processes as possible will help to cut costs, largely because you won’t need to employ and train as many staff. This in turn will help to boost productivity.
As we all know, keeping our customers happy is good for business. By providing them with a better user experience and improved methods of communication, such as email, live chat, support forums, and an active social media presence, you will inevitably have a better relationship with your customers.
Let’s be honest, nobody likes waiting on the phone for 30 minutes before being able to speak to a call center agent.
Examples of Digital Transformation
Given the vast number of ways digital transformation can improve your business, a list of all of the possible use cases is beyond the scope of this article. However, below are some of the main examples of how digital transformation can help with a variety of industries and job functions. To start with, let’s look at some of the ways different industries can benefit from digital transformation:
Retail: E-commerce, loyalty cards & gift vouchers, ratings & reviews, live chat support.
Healthcare: Telemedicine, patient portals, self-sovereign identity (SSI) solutions, and personal data stores.
Insurance: Online quotes, claims, live chat support and SSI.
Hospitality: Online bookings and check-ins, ratings & reviews, SSI.
And now let’s look at how different job functions can be positively affected by digital transformation:
Sales: Organizations can copy their spreadsheets to the cloud, which will make them more accessible to those who need them.
HR: Organizations can improve their onboarding procedures by eliminating the need for paper-based application forms, and even start carrying out interviews via video chat applications, such as Zoom.
Customer support: As mentioned already, the use of technology to improve the ways customers can communicate with your organization can seriously improve customer satisfaction by providing real-time product advice and resolving issues/complaints in a fast and efficient manner.
To summarize, digital transformation is what enables companies to stay ahead of the curve and make more informed business decisions. It helps to increase productivity, improve customer experience, and drives innovation, whether through improving training programs, migrating systems to cloud-based platforms, or using artificial intelligence to automate business processes.