The role of business is to provide its customer services but it is not possible if the business stick to the technology of the past. This is what digital transformation is. The integration of technology or gadgets in a business to extend its services, efficiency and reach. As we move forward, integration of the latest technology in business becomes more and more important to survive.
For example, there was a time when if you wanted to order food, you’d have to reach the store and place your order there. With time, mobile apps started gaining popularity, and now if a restaurant or franchise doesn’t have an app or is not registered on any food delivery app like Zomato, there is a high possibility that the restaurant will not survive. This is why digital transformation is important. This is just an overview, let’s delve deep into what is digital transformation and why it’s important.
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What Is Digital Transformation
As we mentioned above, the integration of new technology in operating a business is called digital transformation. These transformations can vary companies to companies depending on their priorities. It refers to transforming your business in a way that becomes more efficient and reliable. The best way to do this is through experimenting with your business and not being afraid of failure.
The transformation can be in many different aspects of business like customer interaction, business strategies or providing services through digital platforms. Digital transformation also means changing long-standing business strategies and processes to make way for new business strategies and processes that are more relevant to the times.
Digital Transformation Technologies
There are many technologies that need to be incorporated to take steps towards digital transformation. These technologies depend on the type of business as an IT company might have different technological requirements as compared to a Food Delivery company. Here are some of the major technologies needed for digital transformation:
- Cloud computing- It allows an organisation to quickly access its software, new functionalities and updates and on top of that it gives the organisation data storage that can be accessed from anywhere.
- Mobile Platform- The incorporation of a mobile platform allows a person to take care of small tasks remotely without much effort.
- Automation- With the growing trend of automation and robots, it’s very important to make sure that you have a robotic element in your organisation to take care of all the mundane and repetitive tasks. This will allow humans to do the higher-value work.
- Addition Of Emerging Technologies- Many emerging technologies like AI, blockchain, Augmented reality and virtual reality are very beneficial to any business that incorporates them. Again, it all depends on your business as to how you will incorporate these technologies into your digital business.
- Business Tools- There are many digital business tools for business that an organisation should use to manage their business digitally and to the full capabilities.
Example Of Digital Transformation
There are many examples of digital transformation but today we will focus on two examples that are the most famous.
- Netflix- Who hasn’t heard of Netflix? But do you know that Netflix used to be a DVD rental company? Yes, Netflix used to rent DVDs but due to the willingness to take risks and through digital transformation, Netflix was able to create one of the most successful online streaming services.
- Dominos- Another super popular brand is Dominoes, which started as a basic pizzeria almost 60 years ago. In spite of this, Dominoes was able to successfully transform itself into a digital business. It incorporated things like a live pizza tracker and a thorough app that makes it easy for customers to order pizza.
Benefits Of Digital Transformation
The single most important benefit of digital transformation is that it allows your organisation to thrive in this digital age and helps it make your business successful. Here are a few benefits of digital transformation that will inspire you to incorporate it into your business.
- Increased Efficiency- Implementation of technologies like AI and RPA or robotic process automation means that the task in hand will be completed in less time with minimal errors and faster than a human person can do.
- Improved Customer Interaction- Digital transformation also allows you to interact with your customers better than before. Implementation of AI in customer interaction will result in fast and accurate conversations from your side which will make customer interaction far better.
- Enhanced Ability To Innovate– Digital transformation allows humans and machines to work simultaneously which encourages innovation while limiting the risk involved.
For a business, it’s very important to stay relevant and incorporate technologies to turn their business into a digital business which in turn creates more opportunity, and eventually results in growth. Digital transformation has many benefits and we have listed some of them above and we hope that this blog was helpful and informative.