There are many talks about ‘Digital Transformation’ recently, but what does it really mean?

 

 

In the digital era, technology is advancing at an exponential rate and is changing how we work and live. Just as technology is the engine of human progress, it is also an engine of change, and the new digital era is really a fourth industrial revolution, transforming the way we live and work at an ever-increasing pace – and creating a world where everything is connected, a source of greater data and insight.

Digital transformation is more than just a buzzword – it is the reinvention of an organization through the use of digital technology to improve performance and is a priority for many businesses these days.

Why is it so important to the modern business, you say? In this issue, DCT outlines 5 of the many benefits that Digital Transformation could offer:

 

Improved efficiency.

What has been slowing down businesses? Manual data entry is one of the reasons, an inherently slow process, prone to errors, subject to human resource fluctuations, and expensive to scale as your business grows, but is still common for many business processes today, despite its inherent drawbacks, which could create a process bottleneck.

The good news: Digital transformation eliminates many of these bottlenecks. When you replace legacy processes with automated workflows, and truly examine your current processes, you reduce friction in your business.

 


Improved decision making. 

Over the past few years, we’ve seen data explosion. As a business, you have access to more data than ever before, and data volumes are only increasing.
However, very few businesses actually capitalize on this data. But, with digital transformation, you have the upper hand.
Using modern Business Intelligence tools, they can take this flow of data and gain insights immediately. This lets them react far faster than businesses who lack these capabilities.

 Improved reach.

A part of the digital transformation process involves making your business available to your customers/prospects, from anywhere. When your business website and applications adapt to any device, you’re in front of your prospects and customers all the time.

 

 


Improved customer satisfaction.

By investing in a digital transformation, customers will notice and appreciate that you are focused on their needs and experience. By transforming for the digital age, companies are saying, ‘we value your time and want to make your life easier.’ Customer will respond positively to that.

 

 


Improved Profitability.

Finally, what happens when you work more efficiently, make better decisions, and improve your customer’s perception of your business? How will that impact your bottom line? The fact is, digital transformation will transform your entire business. When done correctly, it will significantly improve your overall profitability.

 

 


While the list could certainly be longer, these are just 5 benefits of digital transformation. However, some of this change is scarywe are at more risk than ever before because we are more connected.

In fact…

1 MILLION

cyber-attacks are released every day

 

So we must safeguard our technology to keep our personal and business information secure from those who may want to do us harm. What’s more, we must protect our information, and make it highly available, even in the event of a catastrophic disaster.

Ultimately, rather than seeing digital transformation as a risk,

the true risk is actually not applying digital innovation and grasping the new opportunity it will provide to the business.

However, transforming in digital age should come hand-in-hand with security and other protective and preventive measures.

 

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