Digital transformation refers to the process of transforming business operations using digital technology. Digital Transformation is about changing the way a business interacts internally and with its customers and creating a process that ensures a consistent experience in a more efficient way. Digitizing business isn’t the same as digitally transforming a business. Moving a process or an activity from paper to a computer only changes the means of doing the task. For example, instead of moving a paper process that’s working to a computer, consider all the options of how the experience can be made better. Digital transformation changes the way we think about an activity.
“IDC predicts that, by 2020, 30 percent of G2000 companies will have allocated capital budget equal to at least 10 percent of revenue to fuel their digital strategies,” said Shawn Fitzgerald, research director, Worldwide Digital Transformation Strategies. “This shift toward capital funding is an important one as business executives come to recognize digital transformation as a long-term investment. This commitment to funding DX will continue to drive spending well into the next decade.”
The Corona Virus pandemic now has IT leaders facing more pressure to show that digital initiatives continue to translate to increased agility and speed for not only their entire organization but also any businesses that they support. Manual and time-consuming business interactions need to be evaluated to determine both how to improve them and how to make them safer.
With remote work in mind, you want to look at your company’s cybersecurity policies. This shouldn’t be an afterthought when adapting to a more remote workforce. Secondly, you will want to ensure that communication remains a top priority during the digital transformation process. You want to make sure you have clear goals and how these goals are being achieved.
What Are the Benefits of Digital Transformation?
Digital transformation offers organizations an opportunity to understand the modern-day consumer, engage with them and deliver on their expectations of multi-channel customer experience.
A study at MIT found that companies that have embraced digital transformation are 26% more profitable than their peers. Improved experience for your employees and your customers is a huge driver for digital transformation. The process begins with evaluating all areas of business and market requirements and creating new — or modifies existing — business processes, culture, and customer experiences to meet changing business and market requirements. With many business owners wondering what the future holds, transforming business through technology can be a clear way to gain a competitive edge, and many times with technology they already use
How can I leverage the technology I have?
Many companies have already invested in cloud technology that would provide them great value now if they were fulling utilizing it. Microsoft 365 is a great example of a suite of tools that many organizations pay for, but underutilize. The systems behind what is often considered just e-mail and documents can support rich collaboration, and process automation, often without a change in licensing cost. We frequently find that Microsoft 365 was simply viewed as an e-mail upgrade, and the tools and resources that are meant to drive digital transformation are overlooked.
For example, Microsoft Teams, a feature included in the 365 suite, is a great tool to keep employees updated and a great way to collaborate among teams. This is especially true when it comes to a remote workforce. Microsoft Planner is a great way to manage projects and Sharepoint is an effective way to securely share files across the organization. There are dozens more just within the Microsoft 365 suite and just one example of technology you have in place that could be used more efficiently.
How Does Digital Transformation Change Culture in the Workplace?
“There will be large portions of the workforce that will not return to a traditional office and traditional office hours post-pandemic,” says Jason James, CIO of Net Health. COVID-19 has been the largest experiment of testing the need for a flexible, remote-ready workforce. Post-crisis, many workers will continue to embrace remote work, rather than long commutes. Digital transformation projects post-pandemic will focus on improving the remote work experience.
What Digital Transformation Trends will business and IT Leaders see in 2020?
- Rapid adoption of digital operating models, including integrated cross-functional teams.
- A shakeout as those that have invested in big data governance and analytics leapfrog their competitors.
- Better use of AI and machine learning.
- Continued merger and acquisition activity in the IT outsourcing industry.
- Consultancies forming new digital partnerships.
- Expanding public cloud adoption.
- New digital transformation success metrics.
- More attention to the long-term value of digital initiatives.
Are you ready to gain a competitive edge using technology? Corsica Technologies is here to help. We can review your current IT infrastructure and goals and create a plan that works best for your business. Click here for a Digital Transformation consultation with our team of experts. You can also give us a call at 877-901-2022 and our experts will schedule you for your digital transformation consultation.