Transformation is all set to become the hottest topic of 2018, with businesses everywhere considering or doing it.
Often referred to as digital transformation, business transformation or IT transformation, this concept should no longer be seen as just the preserve of big multi-national enterprises though - every organisation should be looking to take advantage of it. Because it’s only through transformation that you’ll become more customer and employee centric, as well as more agile, as you seek to drive further, vital growth.
While many larger businesses are already in some stage of digital transformation, most smaller or mid-sized companies are still unclear in regard to the first steps they need to take, while for those who have made a start, they are uncertain if the steps they have taken are the right ones.
So, ahead of a 2018 full of exciting business challenges, we look to outline exactly what transformation can offer you and your business through a series of Transformational Thinking articles.
In this, the first article in the series, we will explore what transformation is and how it’s something every size of business should be exploring.
What is digital transformation?
A hugely exciting evolution of business activities, processes and competencies, transformation is the process of rethinking your business model in light of the availability and affordability of new digital technology.
Referring to the use of digital technologies, such as cloud computing, mobile, big data and analytics, and the Internet of Things (IoT), it seeks to enhance existing services, create new ones, and fully leverage vital opportunities of efficiencies and growth to fundamentally change the way your business operates.
For many enterprises, the main impetus to transform their digital offering is the chance to gain an advantage over competitors by improving the experience of their consumers. The speed at which companies are evolving to make the most of this opportunity is very impressive, with 72% of organisations globally expect to achieve advanced levels of digitisation before 2020*. Companies who don’t evolve are already facing the very real possibility of being left behind.
Mid-sized doesn’t mean middle of the road
Lack of time, resources and existing technology - it might seem obvious why digital transformation can seem like a daunting proposition for many small and mid-sized businesses.
So, why is it so important to embrace this new opportunity, once the domain of tech giants and digital natives such as Amazon and General Electric?
Put simply, it will help your business achieve more. Not only will it provide a far superior customer service, it will also allow you to rethink how you communicate with those customers digitally, thanks to data, tech and platforms that would previously have been beyond the reach of all but the largest of enterprises.
This is only possible because of the vast improvements in productivity and processes digital transformation brings – from improving collaboration and efficiency amongst a workforce that can now become increasingly mobile, to automating tasks and procedures that allow specialist teams to focus on higher value tasks.
All of which means that smaller businesses will now be able to deliver tasks at a scale that would have previously only been imaginable for a traditionally ‘big’ organisation.
In the next article in our series we will share how to break down IT-driven transformation into three distinct areas, allowing businesses to focus on what matters most to them. In the meantime, we would love to understand if transformation will be part of your 2018 business plan.
Find out how you can start your business transformation here.
- By Amyn Jaffer (Intelligent Automation Principal Architect)
*PwC 2016 Global Industry 4.0 Survey
External ref https://blog.box.com/blog/top-10-lessons-digital-transformation/