How to Get a Competitive Advantage With Digital Transformation
Top Tips for Getting a Competitive Advantage With Digital Transformation
The advantages of digital technology are manifold: it’s delivered more powerful means to transact processes, created more natural communication channels for reaching consumers, and has evened the playing field for startups to get their name out in the open quickly and effortlessly. Maintaining a competitive advantage with digital transformation is getting trickier as digital-first infrastructure becomes the status quo in business.
How does a company stay at the cutting edge when everyone is doing it? The beauty of technology is that it’s ever-changing. Read on to learn about the core features to focus on with digital transformation, and how the thoughtful application of technology towards these goals will drive a company to success.
Better Customer Experience
Bringing Customers Better Experiences is Often a Number One Priority
Digital transformation emphasizes delivering a better customer experience. It manifests in several ways, from introducing technology which facilitates transaction processes, to developing more aesthetic and intuitive user interfaces.
A focus on creating a better customer experience should lie at the core of a digital transformation strategy. It should inform all processes upon which a company relies to maintain smooth operations. This means focusing on:
- Always staying connected to consumers, the same way that the internet is always on.
- Considering the entire customer journey, from the first contact with a brand name through the end of the transaction.
- Adopting processes which streamline transactions or interactions between the customer and the brand. For example, automated chat support for necessary assistance.
- Optimizing the company’s digital presence to accommodate the constellation of devices consumers may be using.
Digitally mature organizations—which put tech at the center of operations—are 26 percent more profitable than those which struggle to embrace the reality of a digital world. Digital transformation helps companies speak the language of their consumers.
Greater Staff Productivity
Free Up Your Staff and Let Them Focus on the Things That Matter
Everyone would love to work smarter, not harder. Fortunately, digital transformation embodies the concept. In addition to bringing new ways of connecting with customers, implementing digital infrastructure also updates the way that employees do their jobs. Some of these advantages include:
- Streamlined processes, where each action is necessary and moves the project forward.
- Machine learning, which takes over redundant, repetitive, low-impact activities.
- Automation reduces the risk of human error.
- Increased integration between tools, software, and teams to move data faster.
- Digital communication tools to keep everyone on the same page, in real-time.
The result is a better workflow which drives productivity at work, reduces stress, and frees up employees to focus on high-impact initiatives which require human expertise. The competitive advantage lies in what employees can accomplish in this sort of environment.
Digital transformation recognizes the value of the employee: embrace this value to drive engagement and creation.
Leaner Operations and Reduced Costs
Streamline and Improve Your Bottom Line
Our concept of the market has been skewed by the race to the bottom paradigm, which has permeated the economy for the last thirty years. Fortunately, that ideology isn’t quite so dogmatically embraced anymore, but many elements of that method still exist in business today. One of the main features lies in reducing operating costs, known as overhead.
Companies often embrace digital transformation because it makes financial sense, and offers the ability to relieve budget pressures. Digital transformation that is driven by cost-reduction occurs in three significant ways:
1. Managed Services
Tools such as managed services allow companies to pay for only what they need, without the additional cost of maintenance. In this scenario, a company outsources its printing or IT departments to a company which specializes in these specific areas. Doing this provides the company with access to the professional technology needed while avoiding the significant acquisition costs, which often come with installing such infrastructure.
2. Cloud Technology
Cloud technology makes powerful capabilities affordable and easily accessible. Elastic and nebulous, this technology is also incredibly scalable. It makes it an attractive choice for companies with shifting needs. Embracing cloud technology allows businesses to update IT infrastructure, improve security, and focus on using technology to better serve its customers.
Many once feared that automation would wipe out half of the US workforce by 2022, but so far that hasn’t proven remotely right. In contrast, automation has found great use taking over redundant or repetitive tasks which are often time-consuming and low-impact. What happens to the employee that it replaced? They get to go on to enjoy other functions which require the human touch—that is, a task which regards them as more than a machine.
Embrace the Competitive Advantage of Digital Transformation Today
Digital transformation helps companies achieve and maintain a competitive advantage in their industry. Through leveraging the tools available, which increase staff productivity and decrease costs—companies can enjoy higher operating capacity while delivering superior customer experience.
Improving competitiveness is just one aspect of digital transformation which is changing the way small businesses operate in today’s constantly evolving landscape. To learn more about how our digital transformation services can modernize your organization, speak to one of our experts today!