Why is Digital Transformation important for Business to be competitive?
‘COVID-19 crisis has brought about years of change in the way companies in all sectors and regions do business’(Mckinsey[1]). Many businesses have had to innovate new capabilities for their remote operations accelerating Digital Transformation. ‘History has shown that companies that take a strategic future-focused investment approach during times of unrest were better placed when the global economy rebounded’ (KPMG[2]). Businesses that are not taking advantage of the benefits of digital transformation will be left behind.
What should Businesses do?
Delight Customers & Expand Customer Reach: Delight customers and expand customer reach with self-service portals #Salesforce), and mobile apps (#Applications Development) delivering greater customer experience.
Adopt Cloud First Strategy: Move to a cloud-based CRM platform (#Salesforce), automate sales & marketing and empower remote / field services staff. Moving your IT Application workloads to Cloud (#Cloud Services) reduces IT operational costs.
Enhance Security and Regulatory Compliance: Implement identity and access management biometric solutions using AI (#digital Identity) and multi-factor authentication enabling frictionless digital onboarding to improve security and regulatory compliance.
Automate Workflows & Workforce: Increase staff productivity and operational efficiencies through Workflow Automation (#automation) and Remote Process Automation (#UI Path).
Take advantage of better Insights & Governance: Take advantage of comprehensive range of fully integrated actionable business, financial, and assurance insights for better governance (#Snowflake).
How to get started?
Digital Transformation is a complex undertaking. For ‘digital transformation on the right course, a company must place it at the core of its agenda’ (McKinsey[3]).
For the success of organisation’s digital journey it is important to secure sponsorship from senior management and stakeholders across the Business and to develop a digital strategy with clarity on value drivers and value streams.
While it is essential to have a comprehensive approach to drive digital transformation, it is important to deliver quick wins with lesser complex projects to keep the momentum and nurture the digital adoption within the organisation.
The organisation’s ability to automate internal operations, adopt new technologies, new ways of working, new Business Models and form strategic partnerships to scale up in delivering Business outcomes are the key factors in guaranteeing successful transformation. The result of successful digital transformation is the cultural change across the organisation driving organisational growth through better customer experience and lower operational costs.
How can we (#Opasa) help you succeed in Digital Transformation?
Our area of expertise is in digital transformation. We can make fundamental changes to how your business operates to deliver efficiencies, grow customer base and reduce operational costs making a significant savings to your bottom line. Innovation is the new necessity. As experts we take responsibility to work with you to develop and deliver IT ecosystem that is practical and simple to accelerate your business growth.
[1] https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/how-covid-19-has-pushed-companies-over-the-technology-tipping-point-and-transformed-business-forever
[2] https://home.kpmg/au/en/home/insights/2020/05/covid-19-cio-insights-accelerating-digital-transformation.html
[3] https://www.mckinsey.com/industries/financial-services/our-insights/a-roadmap-for-a-digital-transformation