Digital Transformation being the need of the hour for business growth

By Chandrakant Barik Dated:Oct 26, 2020

Running a business? Want to make it smoother in operations? Well, you must get it digitized ASAP. Digitalization is becoming inevitable today and we just can’t refuse this. If we go by the reports, more than 80% of high-profile business leaders believe that digitalization must be a business’ priority, but less than 40% of companies have put up digital initiatives to scale. Although the majority of organizations are into digital projects currently, yet we can’t say that they are a digital business. Every organization must first understand the right blend between digital optimization and transformation. Digital optimization is mainly internal and focuses on the expansion of operational competencies, while digital transformation is more tactical and is determined to create a fresh digital business model. To comprehend it better, one must be very clear on its digital goal direction and then move on to achieve it.

Today, several innovative technologies are a part of the workplace, eventually generating the transformations businesses need to not just survive but thrive too. As per recent studies, worldwide expenditure on the technologies and services that support digital transformation is expected to grow up to $2.3 trillion in 2023, wherein the period between 2019 and 2023 would see a constant growth of digital expenditure to reach the said figure. Thus, it is evident that the digital transformation process is being observed as an enduring investment, with ideas set to conquest around 50% shares of worldwide technology investment by 2023. All this indicates international loyalty towards digital transformation.

Let’s check out the top reasons that make digital transformation an essential change for any business that is aiming to grow and stay ahead in the digital competition.

  1. Everyone expects when they require

No matter if one is an internal or external customer, everyone presumes a similar experience in a professional environment than what they have with technology in person. However, it may be hectic for a business to get materialized individually.

For this very reason, organizations constantly demand-responsive IT services and networking capability so as to make the user experience pertinent. This not just includes the usability of applications for employees or external customers, but also covers the experience of working with the entire IT department. Digital transformation helps to convert these goals into reality, which makes any business good to go!

  1. Helping employees efficiently

Workforce engagement is always a topic of discussion. Employers often seek the latest tactics to improve outputs, wherein digital technology plays a key role in assisting employees to be effective in performing their central roles. With digital transformation, one can be assured of a privileged prospect for principal business purposes, like finance and Human Resource, thereby driving away from manual processes and preset important areas like payroll. This way, leaders are in a far better position to concentrate on other important business opportunities.

  1. Security, a priority

Security is one of the foremost challenges of several IT frontrunners. These leaders are often troubled with issues like the placement of surplus data at the edge of their networks while ensuring the security of the data. Here, even the most stringent safety channels are hopeless if a disappointing network influences employees to move elsewhere for better and flexible speeds. With digital transformation, both business and technology partners realize the overall business objectives well and function genuinely and visibly to get through the business goals, thus eradicating any scope of insecurity.

  1. Fortify business alliances

Customer demands and competition have compelled several firms to become progressively contingent on each other. Managing dealings with various business partners usually require long, document-based communication, which is an exhausting affair and obstructs the overall efficiency of an enterprise. By opting for digital transformation, businesses may choose a technical process like the eSignature system that enables a simplified workflow, which is not just transparent but also quick and accurate. This helps employees to be more effective and productive with each passing day. Not just external processes, but also internal ones also become efficient and flexible, as per the business demands. Thus, digital transformation plays a pivotal role in bonding business alliances.

On the whole, we can say that whatsoever an organization’s consideration for the future is, digital transformation is a must to nurture.