Technology is improving how businesses have been working over the years. Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. It's also a cultural change that requires organizations to continually challenge the status quo, experiment, and get comfortable with failure.
Digital transformation is imperative for all businesses, from the small to the larger enterprises. That message comes through loud and clear from seemingly every keynote, government program, article, or study related to how businesses can remain competitive and relevant as the world becomes increasingly digital. What's not clear to many business leaders is what digital transformation means. Is it just a buzzword to say moving to the cloud? What are the specific steps we need to take? Do we need to design new jobs to help us create a framework for digital transformation, or hire a consulting service? What parts of our business strategy need to change? Is it really worth it?
Plato Alpha was started to help companies with their digital transformation effort, improving their efficiency, reducing costs and increasing revenue.
What is digital transformation?
Because digital transformation will look different for every company, it can be hard to pinpoint a definition that applies to all. However, in general terms, we define digital transformation as the integration of digital technology into all areas of a business resulting in fundamental changes to how businesses operate and how they deliver value to customers. Beyond that, it's a cultural change that requires organizations to continually challenge the status quo, experiment often, and get comfortable with failure. This sometimes means walking away from long-standing business processes that companies were built upon in favor of relatively new practices that are still being defined.
Advantages of digital transformation in business
Now, let’s go through some specific novelties and how they benefit your business. Also, you’ll see how to take advantage of those benefits starting even today:
- Increased efficiency of all operations
- Fewer human errors
- Safer data storage in the cloud
- Reduced operational costs
- Enables data analysis
Due to the implementation of digital technologies, workflows are becoming streamlined and there are fewer human errors. All of the operations are executed more efficiently, thanks to these streamlined workflows which enable businesses to reduce operational costs.
As we said, companies tend to store their data in cloud databases, and now that’s a standard. Today, it’s almost impossible to picture a great number of companies not using cloud storage.
Cloud computing giants such as Amazon, Microsoft, and Google offer high-security cloud services, enabling easy digital asset management.
As for data analysis, let’s just say – could you even imagine analyzing data without the use of digital technologies?
Of course, you can’t.
Tools such as Google Analytics have become the very core of basic data analysis. Of course, there is a huge number of high-quality data analysis tools available, but to keep it simple, let’s just use Google Analytics as an example for now.
Without digital technologies, we wouldn’t even get close to the level of data analysis we’re at right now. It’s almost unimaginable.
But to move on, let's discuss some more benefits that digitalization brings to the table.
Emerging of new communication channels
The implementation of digital technologies not only increases the company’s digital presence but also sparked the creation of new communication channels.
Emails, mobile applications, and social media are examples of these newly-established (well, not so new to be exact) communication channels. By harnessing the power of digital communication channels, you even have the chance of implementing an omnichannel strategy!
This increases the chance of boosting your sales revenue and customer loyalty, but on the other hand – there are some new responsibilities!
You, as a business owner, should take care of all of these communication channels and, together with your team, develop strategies for using those channels. Remember, it’s not about quantity, it’s about quality.
You can have 10 poorly designed and automated sales channels and still not see the amount of revenue you were expecting. But let’s say you have 2-3 expertly designed and fully automated sales channels which will bring in more revenue than you could ever imagine.
As we said, more communication and sales channels – more responsibility.
What’s my next move now?
After realizing that digital transformation is a prerequisite for success in the digital landscape, you may wonder how you can go about this process in your business.
If you’re a business owner or executive trying to set your company on the right path, we’d be more than happy to help you.
Plato Alpha Design is a Bahamian software consulting firm, that helps companies with their digital transformation effort, improving their efficiency, reducing costs and increasing revenue. If you’re ready to make a change that will not only save you money in overtime, vendor costs, and time, contact us for a free consultation.
+1 (242) 812-2195