How Can a Dx Strategy Prepare Your Business for the Unexpected (Like a Pandemic)?
If your business is on the fence about making a move toward Digital Transformation (Dx), you might be interested in a recent study by IDG that surveyed businesses about the results of Dx and its benefits. 52% said that Dx enables worker productivity through tools such as AI-assisted processes, 49% said that that Dx gave the business the ability to better manage business performance through data availability and 46% said that Dx helped the business to better meet customer experience expectations.
‘The business that carefully plans and executes a Digital Transformation and adapts its processes, approval loops, technology integration, mobile access and user access to productivity and analytical tools can position itself to meet the challenges ahead.’
When a business analyzes a new initiative, it must consider the current state of the business and its results, and how the new initiative can improve results and business processes. If there is no benefit or improvement, a business is not likely to undertake a new initiative that may incur more expenses or business disruption.
Perhaps one of the greatest examples of this cost vs. benefit analysis occurred during the recent COVID-19 pandemic, when many businesses were forced to roll out a remote or hybrid working strategy in order to continue serving customers while balancing the needs of society and its team members. What many organizations discovered was that their Dx and technology readiness was lacking.
If you are considering a Dx strategy today, you may be interested in the results of a survey of businesses, faced with the challenges of remote working during the pandemic and how Dx and technology readiness affected their ability to compete then and now.
According to a study by McKinsey, 93% of companies surveyed said they had to shift to remote work, 62% said they had to deal with increasing customer demand for online purchase and services, and 34% said there was an increase in migration of their company’s assets to the cloud, and 54% believe that the change to remote work implemented during the pandemic is likely to remain in place.
Even before the pandemic, businesses were planning and executing Dx initiatives and the results were positive. These businesses were well-positioned to withstand the challenges inherent in the pandemic and beyond. Consider these survey results from a survey performed before the pandemic and how the forethought of these businesses enabled them to compete in an uncertain environment.
- 5% of companies feel positive about their ability to adapt to technological disruption
- 3% of companies report a net increase in job creation from technology disruption
- 4% of organizations express a positive outlook about technology
While it is impossible to anticipate the many local and global market changes ahead, one thing is certain. There will be many changes. The business that carefully plans and executes a Digital Transformation and adapts its processes, approval loops, technology integration, mobile access and user access to productivity and analytical tools can position itself to meet the challenges ahead.
If you need a roadmap to Dx, take a look at our White Paper for more details on the factors to consider in planning and deploying a Digital Transformation (Dx) initiative: Preparing Your Business For Digital Transformation And Data Literacy.
‘When a business analyzes a new initiative, it must consider the current state of the business and its results, and how the new initiative can improve results and business processes.’
Explore Digital Transformation and plan for your own success, with our articles, ‘Trying to Decide if Digital Transformation is Important? Here’s Some Facts and Figures!’ and ‘Improve Operational Efficiency with Digital Transformation.’ Let us help you get started with a Digital Transformation (Dx) initiative.