Digital transformation has been ongoing for years. It received a significant boost due to the worldwide pandemic. Organizations that digitized and revamped their processes have made progress. Even though we are back to normal life, the lessons from the past few years remain, emphasizing the importance of integrating digital transformation as a key growth strategy. Some organizations have demonstrated this more effectively than Amazon. It has already become a poster child of the e-commerce world. The company experienced tremendous growth during the pandemic thanks to its advancements as a digital transformation leader. Conversely, JCPenney serves as a prime example of what happens when an organization neglects digital transformation. Once the biggest shopping brand in the US, the company lacked transformation, which ultimately led to bankruptcy. There are many important considerations companies must keep in mind when managing their digital transformation.
Introduction
A Possibility of Amazon-like Experience
Most companies say they can’t offer that experience because they aren’t as large as Amazon. The latest technology can focus on customer requirements, demonstrate incentive, loyalty programs, and a lively community. A company can offer a digital-first experience that can exceed expectations.
Likewise, a few companies believe a digital-first plan is less significant for B2B in comparison to B2C. Again, this cannot be far from the truth. For example, the majority of the companies are working with a wholesale distributor to enhance their mobile strategy and e-commerce, entailing data availability for contractors and product selection. On the contrary, we are assisting this company in offering an Amazon-style experience for its business partners.
Digital Data Can Change Almost Any Procedure
One of the main factors that leads to Amazon’s success is the data that can be accessed easily and the numerous ways companies can utilize that data. In the same way, companies should never undermine the significance of data and the possibility of incorporating it into re-imagine a process host. This underestimates how significant it is to have access to top data quality and the role it plays in changing even the improbable companies. This highlights the significance of digital transformation consultants.
Government Agencies Are Ready For Digital Transformation
Both private and government agencies are embracing digital transformation. 61% believe their companies are keeping pace with the private sector.
Highlighting this problem, the white house suggests that just 2% of government forms are digitized, and 45% of government websites are not created to function with smartphones. 60% of the government sites are not completely compatible with assistive technologies. This has a direct effect on constituents. In the US, it is projected that individual taxpayers allocate $240 and 13 hours to formulate and file their yearly returns. In comparison to Estonia, it was one of the most digitalized nations in the world, due to pre-filled data, the same takes more time.
The above example shows the requirement for governments to grasp digital transformation to meet the requirements of their citizen in an enhanced way. Simultaneously, there is a main difference in motivation between the public and private sectors. On the contrary, competition is the main driver in the private sector. Therefore, the satisfaction of the citizen will urge the public sector forward.
Tapping The Power of AI
AI is rapidly becoming one of the main drivers of the digital transformation. Data is heart of such transformation and AI excels in advanced data analytics and automation. Therefore, the significance of digital transformation consultants cannot be overlooked.
We have incorporated AI to assist customers with everything from external and internal chatbots to assisting governments accelerate the public procurement procedure to providing field workers access immediate guidance for the installation of solar panels. These advantages include: employee empowerment, more transparency, cost saving, productivity, and efficiency. There are numerous ways AI can assist in driving digital transformation.
Manage Digital Transformation and Modernization Now
Digital transformation and modernization are two distinct things. Both can lead to growth. It prevents revenue leakage and accelerates the order-to-cash procedure. In functioning with one energy with a chain of worldwide service stations, we are using legacy solutions instead of microservices. This makes it possible to draw comparisons in POS system data to card payments to manage money flow.
When investing in digital transformation, the reward might not be immediate. Take into consideration long-term growth and prepare business care that simply explains the break-even point and when incremental revenue or operational efficiencies might be possible.
Frequently Asked Questions (FAQs)
What is meant by digital transformation?
Digital transformation is a strategic imperative for organizations seeking to stay competitive in today’s fast-paced digital landscape. By embracing digital technologies and fostering a digital culture, organizations can drive innovation, improve efficiency, and deliver exceptional customer experiences.
What are the benefits of digital transformation?
- Competitive advantage
- Data-driven insights
- Increased agility
- Improved customer experience
- Enhanced efficiency
What are the challenges in adopting digital transformation?
- Change management
- Legacy systems
- Data security
- Talent acquisition and development
- Measuring ROI
