Digital transformation for business is no longer an option, it’s the only solution to drive innovation within the organization and enhance customer expectations across the network. Digital transformation solutions are redefining the overall business operations, interactions, and service delivery process. Understanding the needs of digital transformation for business requires you to have deep insights into the reasons that necessitate the rise of digital transformation.
Top 4 Reasons Behind Why Digital Transformation for Business Is a Need
The Raising Concern for Handling Data
Businesses are more data-driven than ever, and handling huge volumes of data has been a big concern. In particular, the need to manage data retrieval and storage is growing exponentially but still must be managed in a secure and automated way. In this digital data race to keep businesses on top of their game, accelerating digital transformation for business is the only solution to stay competitive. This has been providing efficient tools to conduct secure data transactions, develop data strategies, and develop data analytics.
Signifying the digital transformation impact on data, Jen Underwood, founder of Impact Analytix, stated that, "The exponential growth of data and intelligent things in an environment of ubiquitous Internet connectivity is enabling a fourth industrial revolution—Digital Transformation of Business.”
Game-changers to digital transformation are big data, agile analytics, and AI concepts (more specifically, Machine Learning and Deep Learning). These tools are helping businesses get deeper insights into the market dynamics and consumer behavioral intelligence insights, which are key in driving the strategic decision process. This way, digital transformation tools can make businesses more effective in leaving data.
Service Delivery Efficiencies
The importance of digital change is high for improving service delivery efficiency in this digital age. Despite having a number of digital applications to automate the delivery processes, companies are using a lot of manual processes to deliver services within the organization. One such case is an employee's HR case, where both parties must write numerous back-and-forth emails, wasting their time for simple inquiries, like PTO balance, and so on. HR departments waste close to 70% of their time attending to these repetitive tasks when they could be automated.
The business need for digital transformation, especially for service delivery processes, can be achieved by leveraging intelligent HR automation solutions. (The ServiceNow HRSD platform is an industry leader in this area.) ServiceNow accelerates digital transformation across HR processes, ensuring intuitive experiences in HR service delivery. Further integrating AI-powered chatbots or voice assistants with service delivery platforms, ServiceNow become a game changer in the overall service relationships.
Getting Freed from Legacy Systems
To drive innovation and growth and transform business operations through modern, agile processes, businesses must need digital transformation tools. Legacy systems are the biggest roadblock for big organizations to meet the modern market's needs. As legacy systems are built on age-old technologies, finding a resource person and updating it to digital technologies is difficult. This was accepted by 90% of IT decision- makers in research by Hitachi Consulting. Moreover, most of the organizations are concerned about security issues when conducting legacy migration. For example, in complex systems, such as air traffic systems, conducting legacy modernization can be a risky thing regarding security.
In such cases, conducting digital transformation clearly demands the precise stating of scope, and objectives of digitalization is a must. To modernize such systems, the best solutions developed is Application Programmable Interface (API). This integration solution enables businesses to bridge the legacy systems with digital efficiencies. This way, the API provides a gateway for businesses with legacy systems, to leverage digital transformation solutions. (Click here to learn how APIs are helpful for your business.)
Consumer Digital Trends are Driving Transformation
Here are the statistics that say everything about the importance of digital change in this modern era.
- 51% (as of June 2017) of the worldwide population are internet users.
- 2.32 billion (by the end of 2017) smartphone users.
- 75% of internet usage is driven by smartphones.
- 2.46 billion are social media users.
- App revenue is estimated to be $60 billion as of 2017.
- Worldwide E-Commerce sales in 2017 are 2.3 trillion US dollars.
These market trends clearly illustrate the importance of digital change and the rise of digital platform usage by consumers. Due to this rapid switch to convenient digital platforms, businesses need to deploy digital transformation solutions to meet the changing needs of their customers and streamline their strategies that suit current market behavior. So to win the digital audience preferences and promote their services and products rigorously, the companies are putting efforts into mobile apps, responsive websites (learn more about mobile apps vs. mobile websites) social media channels, and so on.
Conclusion
Digital transformation for business is more of a strategy, it’s a must adopt technology solution to remain competitive in this digital age. Despite all efforts, enterprises are failing to implement successful digital transformation strategies due to a lack of proper guidance from experts. The enterprises need to have clearly defined objectives and scope while planning for transformation. To conduct this planning, the Chief Digital Officer role has evolved.
Are you looking to modernize your legacy processes by deploying digital transformation solutions? Talk to our digital strategy and consulting experts, today!
