The likelihood of surpassing profit expectations, on average, is just one in ten. One way to achieve this goal is by implementing innovations that can help your employees collaborate, communicate, and work better. Therefore, SMEs should begin the digital transformation with a. yours– but the theme slows (!) 3 Pillars Support a Successful Digital Business 1. Digital transformation is imperative for your company’s success. As a reference point, you can look at MIT Sloan’s guide of The Nine Elements of Digital Transformation. Working with a partner can enable your organisation to quickly, easily and cost-effectively undergo the digital transformation you’ve been hoping for. Keep up the good work– and hope you all take care of yourself during the coronavirus scare! Digital transformation provides a valuable opportunity for core business functions, such as finance and HR, to move away from manual processes and … I just launched my site –also built in wordpress like Innovation is what drives the entire digital transformation revolution. It requires a change at all levels of an enterprise, which is something very hard to achieve, given how sensitive the present economy, market, and investors are today. SME executives envision teams of traditional software agency consultants descending upon their office ripping out existing systems and replacing them with sophisticated technology the business may not even need, all the while racking up huge fees. With cloud productivity solutionssuch as Microsoft Office 365, employees can work and collaborate at a very efficient rate. (, Percentage of people who consider the workforce an integral part of digital transformation strategy execution – 71%. During the early 2000s, many business owners may have thought the advent of the computer might be the beginning and end of the “digital transformation.” However, almost two decades later, we are witnessing even greater levels of adoption of digital apps and programs. SME executives envision teams of traditional software agency consultants descending upon their office ripping out existing systems and replacing them with sophisticated technology the business may not even need, all the while racking up huge fees. On the other hand, business model transformation looks at how your organisation delivers value. Even if you wish to become a fast follower, if not the leader, then also pace is essential. To create business strategies that bring in a positive ROI, you need to make arrangements for your team members to make highly informed decisions. Since the process takes a lot of time, it is important for the leaders to communicate innovation initiatives with clarity. Importance of Digital Transformation. Such digital transformations has changed every industry and revolutionized the way of serving the customers, improve the competitiveness of the business and … Brendon Koh, the Founder of Automate Labs, discusses why and how companies should undergo a digital transformation to achieve operational excellence. As I mentioned earlier about how customer experience is central to the idea of digital transformation, businesses who know their ideal customer will win the race. The best place to start looking for the right partner is on. This is an area with significant opportunity, but it receives surprisingly little attention. It requires months or even years of planning and execution. We bring you an interview with our student and expert in Digital Transformation, Mariano Andres Hernandez Ceron from Spain. It makes use of … Even after so many discussions and debates around the topic, there is hardly any progress in terms of advancement and modernization of business processes. Good digital transformation partners take time to understand your particular business problems and pain points. Digital Transformation and the application of new technologies in the world of business is a very important topic. In this setting, mistakes or changes run the risk of going undetected, uncorrected or both.Â. As digital technologies offer new ways to connect, collaborate, conduct business and build bridges between people, it touches the core of all business functions and even the ways organizations are managed. Although the concept is what the market demands, its implementation is easier said than done. The processes and strategies that worked before are, most likely, not going to work today. Data-driven insights enable hyper-personalization and allow customers to provide real-time feedback. In a recent Deloitte study, 82% of the CEO’s and HR leaders agreed that culture drives competitive advantage. Digital strategy, on the other hand, focuses on technology, not culture. All rights reserved,    ABOUT   COMPANIES   PRODUCTS   BLOG  PRESS    CONTACT US   PRIVACY POLICY  FAQ, The importance of digital transformation in business and how to execute it, on unnecessary communications and data entry across several disconnected platforms including emails, documents, spreadsheets and systems. One of the biggest challenges with this can be a staff that just doesn’t change or accept the transformation. What does that mean? Such a platform serves as the central hub where all information resides and systems become integrated. The perpetual development in technology and rapid change occurring in the digital landscape is quickly pushing companies to adopt better solutions. Here are a few skills people would have to learn to make space for them in the coming decade –. Your wordpress site is very sleek – hope you Save my name, email, and website in this browser for the next time I comment. All of them will lead to increased profitability and success. Digital transformation can help you reshape your business to create value, gain a competitive advantage, meet your customers’ expectations, and drive more revenue. They quickly get a handle on your business objectives and priorities in order to create customised digitisation solutions rather than sell you a “one-size-fits-all” product. are widely available and more affordable than you think. If the process is successfully implemented, the chances of increasing revenue are very high. But, the meaning has changed drastically. People on top of the chain need to take responsibility to create a safe space for innovation. One of them is to find out their opinions. 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