Why Does My Business Need Digital Transformation?
We’re Doing Great! Why Should My Business Undertake Digital Transformation?
Digital Transformation (Dx) isn’t just the flavor of the month or a buzz term circulating in the business community. It is a reality and a crucial component of business success. One might ask what all the fuss is about. Technology consulting firm, Gartner predicts that, ‘Through 2024, 50% of organizations will adopt modern data quality solutions to better support their digital business initiatives.’
But…you may be asking…why should I worry about digital business initiatives? If my business is running well, and my team members know what is expected of them, why do I have to focus on the digital world? After all, I have plenty of software. I’ve got best-of-breed solutions and ERP systems and all kinds of apps to get the job done.
Let’s take a moment to talk about Digital Transformation (Dx), data quality and digital business initiatives and maybe we can answer some of those questions!
‘By connecting and integrating data sources and software, it is easier to report, measure and monitor results. Users have immediate access to the status of a milestone or a step in the approval process. ‘
First Things First…What is Digital Transformation (Dx)?
Digital Transformation involves the adoption of digital technology within a business with the goal of improving productivity, efficiency, the value and usefulness of enterprise data and its impact on new products, innovation and market competition. In other words, Digital Transformation is a comprehensive initiative that is designed to review and address business processes, existing technology infrastructure and the use of data for sharing, reporting, training, and decision-making.
Why Isn’t My Existing Technology Enough?
Most businesses add software and technology in an ad hoc way to solve a particular issue or address the needs of a certain role or business unit. But what if you could integrate data sources and make that information available to other team members? How would users improve their decisions, how could you streamline approval processes and workflow to be more efficient? Has your business really taken a comprehensive look at the tools, software, business processes and practices that are used to ‘get the job done’? A Digital Transformation initiative requires the enterprise to a) look at what is currently in place from a thousand-foot view, b) drill down to the details to understand how users are leveraging systems and how a task is performed from inception to completion, and c) look to automate and streamline using integrated technology, mobile access and other digital tools and processes. Your team DOES need the existing solutions and systems but by employing a Digital Transformation approach, you can improve return on investment (ROI) and reduce total cost of ownership (TCO) by making the access to and use of these systems more valuable and impactful.
How Does Digital Transformation Really Impact My Business?
The comprehensive process of a Digital Transformation (Dx) initiative involves the mapping of available systems, manual and offline processes and approval loops, training gaps, etc., and thereby provides the enterprise with a map that will allow the team to automate tasks, provide checklists and ensure that systems and software are available to team members to avoid redundant efforts and incomplete or inaccurate information. By building these strategies in to the Dx effort, the business ensures that the processes, activities and tasks are sustainable. If a key team member is out on leave, moves on to another company or is promoted, the business is assured that these processes will remain consistent so the organization can be more productive and save time and money on training. It also ensures that the enterprise can avoid missteps and that crucial tasks do not fall through the cracks. In addition, the business can establish and manage metrics to evaluate the effectiveness of tasks, activities, work product, and decisions. By connecting and integrating data sources and software, it is easier to report, measure and monitor results. Users have immediate access to the status of a milestone or a step in the approval process.
‘Digital Transformation (Dx) isn’t just the flavor of the month or a buzz term circulating in the business community.’
This brief discussion of the rationale for Digital Transformation (Dx) may help your business understand the importance of undertaking such a program within your enterprise.
To get started on your Digital Transformation initiative, find the right IT consulting partner and engage Digital Transformation services that will set you on the road to success.
Original Post : Is Digital Transformation Overrated?