“Digital transformation” was a word we couldn’t get enough of in 2020. As businesses looked to “pivot” (another 2020 word) their service and products online, memes around digital transformation and automated workflow circulated. Who could forget this particular meme calling out the COVID-19 pandemic for leading digital transformation of a company?
Which raises the question? Is digital transformation in danger of becoming a meaningless buzzword? As Australia and New Zealand businesses continue to embrace remote working, whether as a part of a hybrid model or full-time, businesses must not lose sight of the long-term benefits of digital transformation — even if you are over saying the word.
Here are six of the most compelling reasons for companies to take action on digital transformation with fresh momentum.
1. Improve process efficiencies
In an all-digital world, businesses can’t afford to respond to customers at a glacial pace. If greater process efficiency is what your employees are crying out for, replacing or augmenting legacy systems with digital platforms is a powerful way to respond.
With cloud-based platforms now recognised as more secure and more effective than on-site systems, the argument for operational security and customer-friendly efficiencies is hard to ignore.
2. The future is digital
Salesforce. Amazon. Google. Adobe. Netflix. The widespread adoption of cloud technology, infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS) and software-as-a-service (SaaS) is part of nearly all aspects of our professional and personal lives. With digital-first business models at the forefront of the world’s leading economies, the companies that get on board with the digital economy have the greatest chance of leading their industries into the future. Don’t get left behind by leaving your digital transformation behind.
3. Align with an innovative technology provider to stay ahead
Understandably, executives are keen to ensure that any digital transformations made now will be valuable in the foreseeable future. Yet, technology changes so fast that even the most innovative technology provider cannot build something now, leave it as is and have a cutting-edge solution in a few years. The good news: everyone is in the same boat. To stay ahead of the digital eight-ball the safest bet is to align your business with a platform-based, innovative, and trustworthy technology provider. The unsafest bet? Throwing up your hands and hoping for the best.
4. Get up close and personal with new technologies
With 88% of customers expecting companies to accelerate digital initiatives due to COVID-19, the call to invest in new technologies is loud. Artificial intelligence, blockchain, the Internet of Things, virtual and augmented reality, 3D printing, robotics – the wave of new technologies to emerge from the Fourth Industrial Revolution is staggering. Their impact on entire industries and individual businesses made their uptake imperative and set the scene for digital transformation long before COVID. They all retain huge potential for businesses to embrace, with their true impact yet to fully play out.
5. Embrace automation
Don’t risk being overtaken by more agile or innovative competitors. AI and automation hold massive potential for improving efficiencies and creating a new breed of careers in technology.
Whether it is using automation to improve the customer experience to marketing communications, or a complex one such as an end-to-end large-scale manufacturing process. See how these customer have embraced automation:
- Mark Cameron, CEO at W3. Digital, shares his top strategies for extending and enriching the customer experience — including how to use automation strategically.
- Bridie Smith, Global Head of Customer Relationship Marketing at OFX, explains how her company has kept marketing personal during COVID volatility.
6. Listen to your customer
Our research shows that consumers are demanding more personalised, multi-channel, real-time, connected service. Customer engagement is ripe for digital transformation and an abundance of new strategic directions are possible. For example:
- Think like Trailblazer Me&U and use automated digital communications like chatbots to engage with customers when and where they like.
- Employing AI-powered CRM so sales agents have the data insights to anticipate and respond to problems or requests before they arise.
- Use of a lead management system to streamline internal handling of inquiries, lead handling and prioritisation.
Want more information on technology that is driving change, listen to what our experts have to say about the technology trends shaping the future.