In 2020, most businesses throughout the UK were forced to undergo a rapid period of digital transformation. Many new technologies were introduced to enable employees to work from home, without compromising on productivity or security. These technologies have fundamentally changed how businesses function however, the process of digital transformation is still ongoing. Regardless of the sector your business works in, there are a wide variety of technologies available that can improve processes, increase productivity, raise revenue, and drive business success.
What is Digital Transformation?
Digital transformation is the process of using digital technologies to bring together data and processes to improve the way a business functions. This definition is somewhat vague, as digital transformation can refer to anything from modernising IT infrastructure to the invention of an entirely new digital business model. However, digital transformation generally covers one or more of the following pillars.
Benefits of Digital Transformation
Enable Data Driven Insights
A side effect of digital transformation is that businesses typically connect processes and technologies that discover more data. A well planned digital transformation strategy can put this data to use to be analysed to find valuable insights.
Provide Better Customer Experiences
Regardless of which pillar is being digitally transformed, it will always create a better customer experience. For projects relating to empowering employees, or optimising operations, this will free up more time and give employees the tools they need to provide exceptional customer experiences.
Increased Productivity
Many digital technologies increase productivity through streamlining processes and operating, whilst creating a better work environment for employees. This is especially true for businesses that choose to implement cloud technologies as part of their digital transformation strategy.
Better Employee Experience
The process of digital transformation often creates a better experience for employees, as it ensures they have the right technologies and tools available to do their best for the business. An improved employee experience also typically leads to more engaged employees, leading to better business outcomes.
Gain a Competitive Advantage
A well-planned and implemented digital transformation strategy can fundamentally change how a business functions. The enables them to gain a competitive advantage with optimised processes, both for employees and customers.
Increased Profitability
Many digital technologies are designed to increase efficiency and productivity whilst optimising costs, leading to an overall increase in profits. This is evidenced as 80% of executives at businesses with mature digital transformations, stated that their efforts had increased profitability.
The journey of digital transformation differs greatly from business to business however, it always starts in the same way, with a clear goal and plan to achieve that. Read our eBook to learn more about the importance of digital transformation, as well as how to define your business transformation goals and how to implement these technologies.
