The digital transformation industry is projected to be worth a whopping $1,548.9 billion by 2027. That number is hard to even imagine! But, that just goes to show how important a digital transformation strategy is for your business.
But what is a digital transformation? Why is it important?
In this guide, we’ll walk you through the answers to those two questions and more! Keep reading to learn more about why you should implement a digital transformation strategy!
What Is Digital Transformation?
As we quickly approach 2023, the digital world is bigger and better than ever. Digital transformation is the process of using technology to improve your business. This could be your business processes within the company, products you offer, or even services you offer.
Digital transformation is the process of using this technology to make things easier and faster for you. Many times, this involves adopting different systems of technology. For instance, you may use one program to automate tasks like data entry and another to automate emails when you are away.
Importance of Digital Transformation
There are so many benefits to having a digital transformation. Here are just a few of them.
Enhanced Customer Insights
One of the biggest benefits of a digital transformation is enhanced customer insights. By digitalizing systems, you can better track customer behaviors and data. This can help you build your business around the customer to improve how you work with them.
Ultimately, this will improve your business.
Having and operating a business is not a straightforward process. You need to constantly change things and stay up-to-date with new trends.
Digital transformation makes that flexibility easier. It is easier to adopt different technologies and stay up with trending tech in the business world. Not only is it easier to adapt, but you will always be ready to adapt to what needs to change.
By using the right technology and the right tools, you can increase your employee’s productivity. They may not be working harder per se, but they would be working smarter with a more streamlined workflow and efficient processes.
Digital Transformation Steps Businesses Need to Take
The steps you take to get digital transformation are going to differ from business to business. However, there are a few things every business needs to do to have a successful digital transformation.
1. Determine What You Need
As a company, you have to sit down and plan out what you need to improve your business.
Is it efficiency that you are lacking? Are you bogged down with tedious tasks that could be much quicker with technology?
Or are you looking for a more elaborate digital transformation?
You have to determine what digital transformation you need for your business first. That will allow you to make transformations that are the most meaningful for your business. With so many options out there, you only want to focus on the ones that will make a difference to your business.
Here are a few things you could consider changing:
- strategy and company leadership
- technology operations
- data management
- customer experience
- company culture
- hiring processes
These are just a few, but there are many other aspects of a business that can be digitally transformed.
2. Get Company Buy-in
You can’t go through a digital transformation as one person in the business. The entire company (or a majority of the company) needs to be on board.
To do this, you can hold meetings and present data for better strategizing. To get the right buy-in, you have to take the time to do it and put in the effort that is needed.
This will help you have greater success when it is time for the actual transformation.
3. Create the Strategy
Once you know what you need for your business and have the buy-in, it’s time to come up with the right strategy.
As part of this strategy, you should break down the transformation you hope for into smaller manageable steps to build a roadmap to success. This will make it easier to go step-by-step and change anything if something comes up.
As part of the transformation, you need to be flexible with your plans as things change and will come up daily.
4. Prepare to Implement
When you prepare to implement your strategy, you want to make sure you have the right staff to help you. This means that you should look over who you have on your team, and hire anyone that is missing.
If you have everyone you need, you may want to hire someone that can come in and train your staff in the necessary skills for digital implementation.
Once you go through all of the other steps, you can implement your strategy. You can set goals and timelines, create projects, and make sure you stay organized.
However, you will also need to keep an eye on things that will need to change over time. This is where the importance of flexibility comes in!
Digital Transformation Roadmap
As a business, you must begin to take the steps to implement a digital transformation. Without implementing the right technology, you may be making things harder for yourself and holding your business back from the success that it would otherwise see.
If you are ready to get started, but are not sure where to start, we at Nizek can help you! We offer plenty of services from mobile development to infrastructure. Contact us today to get the help you need!