Everyone of us have heard this word “Digital Transformation” in news, blogs, articles and interviews. However, this is not just a fancy word that made business leader crazy but it is a revolutionary trend impacting many organizations globally in positive ways if implemented correctly.
Definition of digital transformation by Gartner: Digital business transformation is the process of exploiting digital technologies and supporting capabilities to create a robust new digital business model.
There are many organizations who have already implemented Digital Transformation and experiencing a growth and positive changes in their organization. However, there are many companies which still wish to implement digital transformation. Research says that by 2019 there are 89% of enterprises have plans to adopt digital transformation.
Let’s see what are the absolute benefits of digital transformation that business can expect:
1. Improved Efficiency:
There are hundreds of business processes and procedures are making day to day life of employee boring and resultant to that efficiency gets compromised. However, the digital era has reduced the human intervention and automated the repetitive boring business processes. Automation eliminate human intervention and chances of human error got reduce which eventually improve efficiency.
2. Improved Customer Experience:
Everyone knows Customer is a King and customer experience is most important for any organization. Using smart chatbots and AI & ML algorithms, organizations now getting available 24 x 7 for their customers and providing delightful customer support.
3. Better Decision Making:
In today’s competitive world data has become the most valuable asset for any organization. Businesses are collecting data of their customers, potential customers, competitors and feedback of their products and services from various sources. However, technology has converted data into valuable piece of information. Which enables businesses to predict customer behavior, buying capability, trends and makes it easy to take decision about production, marketing strategy and planning of a new product & service launch.
4. Reduced Cost:
Transformation focuses on optimizing the technology used and the business operation. While many organizations are using machine learning algorithm for defect detection in production and some are having power packed asset management tools which predicts assets health, when next inspection/servicing required and what will be the lifespan of the assets. Which will save a whole lot of cost for the organization.
5. Increase Profitability:
Profits is the major motivation for any organization. It boost the moral of the management and other stakeholders. Once digital transformation is implemented correctly it brings positivity in every department and business process and eventually make the whole organization more profitable.
Digital transformation has made organization more transparent and efficient. It provides more opportunities to enhance the customer satisfaction and build great working environment for all the departments working together. Useful information and automated process encourage every member of organization work towards the common organization goal and eventually organization experience exponential growth.
We hope this article helped you to identify the major benefits of digital transformation. If you like this article, then please share your views in the comments below. In case you have any query then please write me on email@example.com I will definitely try to help you with the best of my knowledge.