There has been a steady rise in the complexity of consumer behavior, due to the changes in the usage pattern of internet and its connected devices. Social media, mobile applications, and host of other IoT devices are making the market disruptive in nature, by changing the way people communicate and discover new products. This has created a digital Darwinism, which is nothing but constant evolution of technology and engagement methods, in line with evolving customer expectations. In this era of change the rate at which technology and business is evolving is much faster than absorption capability of businesses. This calls for new leadership and out of the box thinking, which demands a total digital transformation of their business. It will provide the much needed tooth, to counter stiff competition by adopting the most effective business practices and technology.
Why Digital Transformation!
From numerous surveys it has been found out, those organizations that have undergone digital transformation, have undoubtedly derived more revenue from their physical asset. These organizations have achieved higher market valuations and sustained organic growth. However, technology is the solution to many problems but if not managed professionally it can become a problem for the organization in terms of manageability. Therefore, organization must choose a technology partner very carefully. A good partner should understand the organization specific requirements and deliver tailor made solutions, which are easy to adopt but yet effective. Profit seeking organizations today, are more concerned with evolving digital maturity of the market and in the process align themselves accordingly. Digital transformation is the answer, to the impact disruptive technologies has, on consumer and employee behavioral pattern.
Business houses today are doing a fair amount of reverse engineering, in terms of investments and business processes, to better understand the market. Digital transformation services continuously seek to improve customer relationship by delivering value added products and services every time. It does incorporate newer models of doing business, which is best suited for today’s dynamic markets. It is necessary to map and analyze customer experience, which is crucial for product development. Organizations with high ambition tend to invest in digital transformation to learn about customer preferences and behavior. It tends to deeply analyze the frequent customer touch points and also suggest newer channels of customer engagement. It also tends to find out the factors by which customer preferences change and get influenced. To excel in an environment where “survival of the fittest”, is the main mantra, digital transformation is the ultimate solution any organization must choose to incorporate.
Digital transformation and its advantages:
Increase in customer acquisition –
For organizations with legacy marketing practices, there has been a constant observable trend of customer loss, to a more digitally transformed organization. Transformation to a mobility based system would ensure advance data analytics and better access to online marketplaces. It will ensure innovative customer engagement methods, and produced refreshed products, which are readily acceptable by the market.
Smooth business process and operations–
Digital transformation is the perfect lubrication for the business processes and operations. Deployment of enterprise mobility solutions, would increase interdepartmental communication and also enhance data exchange between various stakeholders of the business. With increased communication, there is better business visibility, which leads to correct forecasting of sales and revenue. A good mobility management service should have the capability of multiple platform and operating system running capability. Organizations are increasingly adopting practices like BYDO (bring your own device), in workplace. On one hand it enhances mobility, but on the other it is a security concern, which can be addressed only by an experienced technology partner.
Increased geographic reach –
Indeed due to digital transformation, business houses are easily expanding their operations beyond high seas. This is facilitated by the extensive usage of cloud based technology. It is important to understand the fact that in the future mobile applications will be based on public cloud based infrastructure. Therefore, organizations must choose a technology partner, who has considerable experience in designing cloud based applications. It is important to have SaaS (software as a service) capabilities, which would help organizations adopt multi tenant architecture and hybrid cloud architecture. Other important services to be looked out for are, establishment of a sound cloud reference architecture and single page app, to make things user friendly.
Empowering management –
For organizations to flourish a streamline management is necessary, who are in line with business vision. It is important to assimilate information from every corner of the business and present the same with detailed graphs and reports. This is facilitated by digital tools and other smartly placed data capture points. It is important to have greater power of data analysis and visualization, which is crucial for business decision making. CIOs should have the power of advance predictive models, which helps to identify hidden business opportunity. Digital transformation helps to gather in-depth machine running information’s, which are of great help for predictive maintenance. Thus, it provides greater field asset control and releases the pressure of maintenance budget. With digital transformation, software and update sharing worldwide is made very easy.