Digital transformation technologies have already started entering our workplaces at an exponential speed. These digital assurance solutions have significantly brought in changes new-age businesses need not only to thrive, but also to survive in this ever-evolving digital ecosystem. The solutions have proved their criticalities by transforming the customer experience, enabling data-driven insights, improving collaboration across departments, improving flexibility, adding innovative approaches, improving skill sets and honing a digital culture. These solutions have provided comprehensive agility to business, stability, customer centricity and have made every aspect of business future proof.
Innovative approaches within the workforce, professional collaborations between companies, effective engagements with audiences and the capability to extract valuable learning from the gathered data are just some of the benefits of digital transformation that are enabling businesses to grow, expand and evolve exponentially.
The Rate of Adoption
Studies show that global spending on technologies and services that are offering digital transformation to enterprises is expected to reach 2.3 trillion dollars by 2023. Digital spending is expected to grow steadily over a period of five years (2019 – 2023) at a Compound Annual Growth Rate (CAGR) of 17.1 percent.
The figures thus clearly depict that digital transformation and digital quality assurance are now being viewed as fruitful long-term investments because the transformation affects the business process at every level while quality assurance efforts strengthen the product throughout the development cycle. The global enterprise-wide commitment for digital transformation is projected to take approximately 50 percent of worldwide investment in technology by 2023.
This reflects the fact that technology has become a requirement and is no longer a choice. Instead, it’s now a fundamental business strategy that needs to be intertwined with the broader initiatives of an enterprise. With increasing business applications, connected devices, Internet of Things (IoT) and user expectations the urgent need is to resolve the fresh wave of challenges that businesses are faced with while ensuring digital quality assurance.
As the front end of the enterprise is now shifting its focus from conventional technology management techniques to those projects that propel the business towards growth and future readiness, the CIOs must also work in-sync to maintain the equilibrium.
A Step-By-Step Process
After deciding to enter the digital transformation phase, the enterprise must introduce it in a staged approach rather than going all at once. Which means that the leaders should follow a step-by-step process in order to keep their employees from getting overwhelmed.
Start from the top – Whatever the change is in business processes, it must be adopted by the leadership team initially. This is done to encourage the workforce.
Enable employees with direct access to customers – This helps in bringing the internal teams closer to the customers and gives better and deeper insights. Likewise, customers, too, feel a strengthened bond with the brand.
Encourage employees to embrace agility – With regular and tangible daily activities employees must be encouraged to move at a pace which is in-sync with the transformation process. The activities may relate to business or any other similar function.
Invest in employees – This may include new employee experiences. By improving on this front, the brand will gain the trust of their workforce, producing empathetic employees and overall a happy corporate family.
Invest in employee skill upgrades – These can be done through in-house courses or personal development programs (PDP) that increase employees’ skill sets thereby enabling them to take on more and more difficult responsibilities.
It is important that companies identify their focus areas exactly according to their priorities, so they can precisely calculate the impact of the transformation process on business operations.
Digitization of Customer Experience
Thanks to big data, enterprises today can easily identify the inclination of a customer towards a specific product or service with their purchase history. Also, customers being the most important stakeholder, it becomes essential for the enterprises to know and understand them. The process by which this customer data was captured has traditionally been handled internally.
With customer resource management (CRM) an enterprise can now easily get insight into the customer’s purchase history, and better research can be done through the Internet to understand what the similar products/services are that may interest customers with similar history.
This history consists of digital footprints where your customer leaves a trail of their daily online behaviour and browsing patterns. It is the digital field of information that not only surrounds the customer, but also the processes, the brands, and even the devices.
Based on the information gathered from popular social media platforms, companies can lure their potential customers to purchase products by posting links reflecting their potential buying preferences or according to their habits. For example, some may prefer shopping over the weekend or during the first week of the month. Each and every single action that the user takes in the physical as well as the digital world contributes towards the growth of business.
These actions are recorded through various smart devices, and thus a huge volume of data with rich and useful user information, also known as Big-Data, is generated. The user information gathered through these processes and technologies can also be effectively leveraged in digital marketing. In this era of a digitally connected ecosystem the first thing that a user does before making any purchasing decision is to search the Internet for feedback, reviews, ratings and support.
In order to be competitive, enterprises must provide smartly curated and updated information about their products/services. As the entities (user and enterprise) are digitally identifiable, digital marketing tools can be leveraged to offer personalized promotions such as exclusive discounts to increase loyalty.
Products and services
The target for enterprises has shifted far away from merely selling products and services and has gone towards selling an experience to their customers. Modern day products both generate as well as consume data as they are intertwined with the internet. Due to this increased intelligence their activities can be tracked and monitored, and thus new services can be designed and offered proactively. Even maintenance or updates Over-the-air (OTA) can be scheduled at any point in time in case of issues.
As enterprises adapt to more complex ways to understand their curated line of customers, their expectations are changing and increasing with every single product and service offering. Advertising is being created with a personalized approach in a bespoke manner.
Thus, as a result of digital transformation, mass customization is being heavily adopted across various sectors in order to cater to the most personalized requirements of the user such as customized wearables, LED lighting systems, smart home systems, and more.
There are several ways in which digital transformation can help business operations. For example, leveraging big data can seamlessly help in-bound logistics to be processed more smoothly by tracking real-time movements. Cloud computing can be utilized to create stable business processing platforms.
With transformation, automation, standardization and globally sourced processes enterprises can improve on agility and responsiveness and thus sustain profitability. Agility in digital transformation thus becomes a crucial factor to outpace the increasing market competition. With human intervention the anticipation and responsiveness for the rapidly changing market can be effectively resolved. Thus, for maximum efficiency it is recommended that businesses adopt the agile way of functioning.
Digitization of the Organization
As more and more value chains are being integrated in businesses, enterprises are transforming as a part of a larger ecosystem, enabling them to offer improved and efficient services to their users. This in turn is scaling up the customer experience.
Digital transformation and digital assurance solutions are pushing the value chain players to collaborate more for increased efficiency and productivity. In this way organizations can either form an ecosystem to provide services or focus on niche categories that add value to the experience and become a part of the existing system.
Employees need to work collectively within an integrated digital ecosystem and break the traditional silos to coordinate across departments. Demographically separated employees can share ideas, documents, experiences and knowledge to improve business and add overall value to the company. Corporate cultures must also work towards encouraging a digital mindset, innovation and continuous upgrades in necessary skills and knowledge.
Digital transformation is not limited to technology and process executions. Instead it also involves various organizational aspects. This is why a lot of companies are hesitant to adopt digital transformation. They are unsure about the investment involved and whether it will pay off or not. Know that when done strategically and thoughtfully, digital transformation is a boon in the long run. In fact, this is only the beginning of the digital age. Companies must grow and change with it or die.
Keeping pace with digital transformation requires scaling up cybersecurity concurrently to protect technological investments. Contact us today for a free consultation about how RSI Security can help you stay secure through company growth and change.
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