When you look up the definition of “Digital Transformation,” you will most likely see something similar to, “digital transformation is the strategic adoption of digital technologies to improve processes and productivity to deliver better customer and employee experiences, manage business risk, and control costs,” but what exactly does this mean? How does it apply to your company? And how can you implement this concept into your business’s operations to improve performance? Keep reading below to find out!
Digital transformation initiatives should be business-driven with clear objectives that can be monitored and measured through KPIs (key performance indicators). Three-key areas where companies are increasingly focusing their digital transformation efforts are improving customer experience, their operational processes, and strategically adopting newer business models.
Initiatives to improve customer experience require gaining deeper customer understanding and optimizing customer touchpoints. Tools that can be used to achieve this include analytics-based segmentation and socially informed knowledge. Through the information acquired by these tools, your company can focus on improving customer service, self-service, and cross-channel coherence related to customer touchpoints.
In regard to improving operation processes, this can be broken down into two key subcategories, process digitization and worker enablement. Process digitization refers to automating existing manual processes, such as analyzing data from web forms, invoicing and payment, and operational reporting, to help your business run more efficiently. Worker enablement refers to guiding and empowering your employees to continue to learn, develop, and get the necessary training to continue providing quality results. By focusing on these two subcategories, your company can improve its operational processes by being more efficient, developing a line of open communication with your employees, and generating ways for your company to grow.
Digital transformation initiatives also help create new optimized business models that fall into two subcategories: digitally modified businesses and new digital businesses. For digitally modified businesses, digital transformation can improve product/service augmentation and transitioning physical processes to digital to help streamline operations. As for generating new digital business, using and implementing digital technologies can impact different areas within your business, such as acquiring new customers and broadening what services and products you can provide.
Examples of how digital transformation can create change in the areas listed above include:
Creating more personalized content to reach individual customers by using mobile internet technologies to understand consumers’ online behavior to generate new digital business.
Automating internal processes that are otherwise repetitive and prone to human error to streamline your company’s operations.
Digitalizing assets by using IoT technologies to help extract useful information to improve the business asset management processes and achieve greater efficiency.
Below are examples of digital technologies your company can use to implement the strategies mentioned above:
1. Cloud-based services
2. Mobile internet technologies (mobile artificial intelligence, mobile security, geofencing, location-based services, etc.)
3. Cloud-native applications
4. Big data and big data architecture
5. Internet of Things
6. Design thinking
7. Augmented reality technologies
To learn how to incorporate these initiatives into your company’s daily business operations, click here to contact us and jumpstart your company’s digital transformation journey today!
Comments