Why SMBs should consider Digital Transformation?
Businesses are always looking for ways to stay ahead of the competition. Unfortunately, even if you’ve had success in the past, the same strategies don’t guarantee you success in the future – especially if those strategies don’t involve making your business as efficient as possible. Many companies have begun to transform themselves digitally. A new McKinsey Global Survey reports that more than eight in ten respondents say their organizations have undertaken digital transformation efforts in the past five years.
What is a digital transformation?
‘Digital transformation’ is “the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers.”This process doesn’t happen overnight. Digital transformations require businesses to rethink how they operate, even if it means revisiting long-standing business processes. However, once all processes are fully aligned, the benefits are numerous.
In an ideal world, we’d be able to respond to every customer inquiry immediately. However, given the volume of customers and questions, this isn’t always possible. Or is it? While your employees only work a handful of hours each day, a 24/7 support team catered to your needs responds to inquiries around the clock. The process of transforming your customer service department into one that’s better equipped to handle the volume of customers doesn’t just take the weight off of your employees. It also improves customer
Businesses generate lots and lots of data. Some estimates indicate that we generate 7.5 septillion gigabytes of data every single day. While this volume of data can be overwhelming, it is also beneficial for businesses that learn to utilize it appropriately. Equipping your business with systems that capture, analyze, and store data all in one place allows you to convert complex information into valuable business insights for better decision-making.
Most of the core business functions that make up your company require numerous manual processes. While important, these processes often comprise multiple hours of highly-skilled employees’ schedules. This is where digital transformation comes in. Robotic Process Automation is a type of automation that can replicate computer-based manual tasks. This provides the means to automate many business processes. This includes functions within the scope of finance, accounting, and other departments that are regularly bogged down by repetitive processes. Once automated, workers can devote more time and energy to pressing duties that relate to their primary job role.
With great data comes great responsibility. As customers provide businesses with more information about themselves, companies become more liable for keeping this information safe. Businesses should take special measures to help ward off the threat of a security breach. Start by employing the help of cybersecurity professionals who regularly update security networks with the latest technology and encryption available. It’s not always an easy task, as hackers consistently find new ways to thwart safety and security measures. However, investing in updated cybersecurity will allow your business to enjoy a reputation as a company customers feel safe with.
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Ready to dive into a digital transformation? Contact us to book an appointment to discuss your digital transformation requirements today.