The Future is Here. And it’s Ready to Get to Work.
Technology transformation is inevitable, but it brings with it a better way to do things. The next big shift every industry is facing is the Digital Transformation (DX), and it’s a game-changer. Digital Transformation is going to streamline processes, optimize efficiency, and boost profitability like nothing before.
Currently, 40% of all business spending goes towards the adoption of digital solutions. More than $2 trillion has been invested worldwide already, and the numbers are only growing.
What that tells you is, if you don’t embrace Digital Transformation, your competition certainly will. Wait too long, and you’ll be playing catch-up with a gap that will be hard to span.
At its heart, Digital Transformation represents a whole new way to think about efficiency. It means reexamining the way you utilize every resource, including people, equipment, and processes. DX is about more than just finding better ways to do what you’re already doing; it’s about finding whole new ways to use digital technology and connectivity to unite every aspect of your business. To get the most out of Digital Transformation, though, it must be applied completely.
As an example, if only part of a delivery fleet is upgraded to newer, faster vehicles, the resulting productivity isn’t nearly what it could be. The older, slower vehicles become a chokepoint that compromises productivity across the entire logistics network. Likewise, a partial Digital Transformation won’t yield the best possible results. To be truly effective, it must be adopted as a whole new cross-functional way of thinking, and must unite every aspect of your business. Sales and marketing, finance, HR, all of them can benefit from the superhighway of digital technology. So you can create a well-oiled machine and an upward cycle of profitability.
WHERE YOU’LL SEE RESULTS
When a business undergoes Digital Transformation, it can realize greater efficiency in surprising ways.
With a connected, digitally streamlined customer service force, every customer will have faster access to support. That means greater satisfaction with products and services, and a greater likelihood of repeat business.
NEW REVENUE STREAMS
Greater efficiency and capability open up new ways to reduce costs, while also revealing new opportunities in the marketplace.
A UNITED WORKFORCE
Digital technology not only connects the workforce, but it also empowers it. Database access no longer requires a desktop, or even a laptop. Mobile phones and tablets can make even the most resource-intensive tasks more portable, and more intuitive to use. That saves time at every touchpoint, from sales and support to billing. Everything is accessible, everything is more useable, and every employee can do a better job using less equipment. It’s a win-win across the board.
CONNECTING MANAGEMENT TO THE WORKFORCE
The Digital Transformation will not only give employees easier access to better tools, it will also provide managers and company leadership with a more reliable, consistent connection to the people under them. Guidance, assistance, and feedback are now at the fingertips of every person on staff, and every person to whom they report.
KEEPING CURRENT WITH THE TALENT POOL
Another important factor to consider when considering a Digital Transformation is the relationship that digital technology has to the next generation of employees. The Millennials that are now making up the majority of new employees are all people who have grown up with digital technology. It’s the world they know, and the tools with which they’re most familiar. A digitally-integrated workplace will be more familiar and useable to them, and will require less familiarization and training. That alone will save costs in the long run.
A SHIFT IN MAINTENANCE RESPONSBILITY
Digital technology can create substantial maintenance savings, because the burden of repair and maintenance shifts to the service provider, not the business that uses the service. That means lower training and equipment costs right off the top.
FASTER TO MARKET
Digital technology has increased the speed of research and development, which in turn makes businesses nimbler and more responsive in an ever-changing marketplace. Every company can now stay more relevant, and therefore more viable and profitable.
More on DX:
You may also be interested in our interview with Jim Carroll, Chief Revenue Officer of Tellennium and Chris Donlan, DX Solutions Architect of MicroCorp
Watch Video: DX – Digital Transformations – What it is. What the roadblocks are. And how to get started for your organization.
Also available: PDF Report download
Next week: Be sure to see Part 2 of the Digital Transformation, “Overcoming Roadblocks”.