Digital transformation has become imperative for growth of businesses, be it small or large scale. Even well established businesses have acknowledged the importance of digital medium to gain prominence amidst the masses.
The vitality of digital transformation came to brighter light with the commencement of global pandemic, COVID-19. That has led to rise in the enterprise software development companies that help transition a business on the digital front.
Before understanding why digital transformation is indispensable to your business, let’s understand what exactly digital transformation is.
In layman terms, Digital Transformation refers to realigning your current business model by incorporating latest use of technology. The incorporation, however, should be in accordance with the fact that it must add value to your customer and employee experience.
Basically, you are easing the process of the interaction of your customers with your business. This ease is provided through technical means, like employing software development services and increasing the processing speed for faster experience.
Since the world has practically shifted online, digital transformation also adds value and revenue to your business.
Statistics have it that digital transformation has begun spreading its wings and is expected to grow tenfold in the coming years.
- A report published by Seagate read that the two-third population of global CEOs will employ global strategies by the end of 2019 to enhance customer experience.
- Smart Insights conducted a research and found out that 34% of companies have already gone under a digital transformation.
- Gartner, a leading research portal, studied the experience of businesses after following steps for digital improvement. 56% of CEOs validated growth in revenue due to digital inclusion.
- Acknowledging the movement of businesses towards digital transformation, Vxchnge reported that 20.4 billion devices will be connected to the Internet of Things by 2020.
- Seagate also reported that an additional 34% of companies reported that they are set to adopt digital transformation within next 12 months.
Considering the number of businesses that are transitioning to digital transformation, it is a given that this process is incredibly vital. Here are a few top reasons as to why should a business consider digital transformation-
- Caters to Customer Demands
Since the world is drifting towards technological modes, customers are also expecting fast and technically sound services. And that’s an integral challenge in front of businesses. It is no more about getting a software outsourcing company, you need to be much more informed.
Constant employment of IT tools to ease the experience for customers is the need of the hour. If you wish to undergo a digital transformation, you have to work along companies that deliver software development services and understand the expectation of your customers. Plus, when, how, and where to deliver the application is additional knowledge you need.
- Meets Employee Expectations
Employees are the biggest asset that a company has. And just like your customers, employee expectations have changed with the advancement in technology. As many companies are upgrading technologically, they are able to get the best employees. For instance, employees today expect to have need-based technology or feel empowered to work from home when the need be. If you are keeping such expectations at the centre of your work model, only then can you get the best human resources.
Additionally, technological means have also become integral in elevating the productive attitude in employees. For instance, getting offshore software developers to develop a workflow tracking software for you can help employees monitor their work graph. Consequently, workers feel more motivated to accomplish their goals.
- For Handling Huge Data and Analytics
It’s a given that every business has to store huge data and analyze it from time to time. After a point of time, manual management of data becomes complex and prone to a lot of human errors. To resolve this issue, digital transformation is necessary.
When indulging into enterprise software development, do consider a feasible data management tool. This will not assist in storing and retrieving data, but will also give significant business insights. Consequently, you can design your business strategies accordingly.
- Increases Business Security
Business security is as vital and as complex as it can get. With such huge data at stake, businesses cannot rely on human resources as alteration is a common issue. Instead they need a very high profile security system that has multiple levels of security check to protect data, passwords, networks, applications, etc.
- Artificial Intelligence- A Must Have
Automation in almost every field has just untangled the complexities of businesses. However, automation or moving towards AI shouldn’t be looked at as a replacement for employees. Employees are being directed towards understanding customer expectations and designing customer services as it’s beyond the understanding of a technology.
However, AI is a probable solution to almost every complex problem. For instance, you can handle big data with artificial intelligence. As you move your human resources out of these tasks that can be easily handled by technology, you can engage them in processes that are creative and require brainstorming.
- Clouds- Ultimate Data Storage Solution
As we have time and again discussed that businesses handle big data, their storage is also crucial. Cloud storages are an answer to where can the data be stored.
Additionally, while working on a cloud based faculty, you are free to collaborate with tools and make the data even more meaningful for business usages.
Digital Transformation is not a fanciful thought anymore. It has become a necessity that every business needs to consider and incorporate. You can easily find software development services that can change the face of your business with the usage of technology. These technological interventions should be designed according to what your business needs, what the customers expect, and what is favorable for your employees.
With so much competition in the business field, it’s vital to remain relevant to your audiences and hence digital means are a must.