Jun 05, 2021 08:37 AM EDT
Innovation & Business Technologies: 4 Core Steps For Future Digital Transformation
The past year has been a big learning curve, thanks to the effects of the global pandemic. There have been a range of advantages of using modern technology, which has helped businesses and education to carry on, despite lockdown and social distancing guidelines. The pandemic has made many firms and organisations realize how they can use technology to their advantage without needing to be face-to-face.
The implementation of technology has increased vastly over the pandemic. We have seen it save time and money and create solutions for challenges brought on by the pandemic. With this in mind, organisations need to think beyond their past business strategies to get transformative execution of technologies to get achievable outcomes, but how?
1. Identifying transformational objectives
Before being able to implement strategies, the business needs to be able to set targeted business outcomes. Digital companies must only consider the digital experience of their customers. However, in the grand scheme of business strategies, that is only part of the story.
Although a digital customer exercise is vital, re-thinking and re-designing a business model that induces transformative objectives must consider enhancing digital customer and end-user experiences. As most customers are now approaching brands online via handsets, it's even more important to consider new ways of working with them. By improving these, they will help to increase brand loyalty, customer retention, revenue and productivity.
Being able to understand and integrate analytics from customers will also help make better decisions. Understanding what the customer is looking for will improve the efficiency of the business and help gain a competitive advantage over competitors who might not be doing the same thing.
2. Technology Enablers
Understanding the technology available and being able to leverage it for beneficial use is a core concept. Intelligent automation, which includes the use of human-machine collaboration and the Internet of Things (IoT), are key enablers.
This is because emerging technologies, when developed, are not always secure and create delays. These can make life difficult for businesses increasing organisational struggles. Therefore, the implementation and appropriate security need to be considered before considering digital transformation.
3. Digital business organisation
Having an established platform for digital transformation is vital. Businesses have to consider interaction with customers, but they also need to consider a platform based on their specific business targets to achieve outcomes, rather than having a monolithic platform that traditionally fuses and integrates all the digital workings of an organisation.
The future of platforms that have to be considered need to work in a more customised way, making it highly virtualized and an ecosystem that is highly distributed for businesses to select the best providers for their specific oriented outcome needs. The future will have pre-integrated services that will provide software-defined platforms, meaning companies will not need to do the legwork.
4. Digital Service Lifestyle
All innovative products look great and can do great things. However, businesses need to consider what will work best for their organisations and outcomes and help them go further than their competitors. Digital services continually evolve, which means they need to be managed continuously.
Mastering the digital service cycle is one of the key most important competencies of a business to help it grow and build a sustainable future, giving it a competitive advantage for years to come. Doing so will make as we advance for any business easier as once implemented, the service lifecycle will continue to run itself like clockwork.
(Image Source: The Balance)
Collectively, the four core steps listed above will offer businesses the capability they need to help accelerate brands into the future of digital. The digital space is now far from what we once knew it-taking us into newer ways of working and engaging with customers.
Social media platforms have allowed us to interact with customers like never before to understand and analyse them. So much so, we understand the lifestyles and behaviours of our audiences. We know when to be in front of them at the right time of their days when we know they will be on their phones. Technology is the future, and for all businesses to excel, they need to consider using them to their advantage.
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