Every successful digital transformation (DT) starts by setting a clear goal. Whether you’re launching a new company, or you’re rethinking your current business model, you need to define what your digital aims are before you start pursuing innovation.
The type of objectives you choose and their scope may vary, but one thing is for sure – from incremental steps to big leaps, if you want to get the most value from your technological investments, you need to act with conviction.
There are a number of goals you can focus on, all of which can be achieved with the help of digital technology. Here are some ways DT can revolutionise different areas of your business:
One of the biggest universal issues companies from across all industries have battled in the past is organisational silos caused by cumbersome admin. Luckily, this is also the key aspect of all companies to benefit from digital transformation.
With the help of digital tech solutions, you can increase efficiency in all parts of your business and ensure all departments are working seamlessly together. DT allows you to automate all your finance operations, from expenses and contracts to invoicing, saving your business time and money.
Similarly, there are a number of readily available digital solutions which streamline you accounting processes so you can make payments to both your suppliers and your staff with the click of a button. In fact, you can even use digital applications to make your project management more efficient by monitoring current and upcoming project from a centralised dashboard.
Automating key processes across your organisation will help reduce errors and allow you to detect issues earlier, so that you can resolve them quicker and more efficiently.
Automation is not the only way digital transformation has helped increase productivity either. Even the simplest digital solutions such as spreadsheet software have allowed organisations to cut down work turnaround time drastically. Nowadays spreadsheets are used ubiquitously throughout all areas of a business to store data on finance, sales, and staff efficiency.
Customer service departments, meanwhile, can use digital technology to engage with users in new and improved ways. From social media platforms to live chats, digital transformation has helped bridge the gap between consumers and brands, allowing companies to provide their customers with a seamless online experience.
What’s more, digital technology has enabled organisations to maximise the efficiency of their team by allowing employees to work remotely. Cloud technology, affordable storage rates and wide-spread app integrations have made distance working possible. Using powerful mobile devices and revolutionary software, members of your staff can access your company systems anytime, anywhere.
Digital transformation is about more than simply improving speed of operations. Technological innovation has allowed businesses from all spheres to gather and analyse customer data, providing them with valuable insights which brands can use to improve their offering.
What’s more, the power of digital enables companies to target specific audiences, utilising their consumer insights to target specific demographics, re-engage past users and advertise their products to people with relevant interests. Ultimately, by helping organisations talk to the right customers at the right times, DT has dramatically improved marketing strategies and saved companies thousands of pounds.
The wealth of data available in the world of digital can be used for more than customer engagement and marketing. It can also help brands stay agile through adaptive design. Steering businesses away from the rigid performance metrics of the past, digital transformation solutions allow organisations to adjust their strategy on the go instead.
This approach also encourages risk-taking and innovation. By reviewing company performance weekly (or even daily), leaders have more freedom to make decisions and learn from their mistakes, adapting their strategy based on real-time data.
Ultimately, digital transformation is about disruption. Advanced technology gives you the power to innovate instead of simply reacting to industry changes. It allows you to plan ahead, so you can create a business model which combines targeting untapped markets with expanding your customer base to lookalike audiences.
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