Companies are increasingly reliant on the digital side of their work. This includes having an effective website that displays what a company does, using the right hardware and software within the company to keep employees effective and managing data properly in order to make the most of the information age.
However, when these systems and processes become outdated, companies can find themselves in need of a digital transformation strategy to keep up. Learn more about what a digital transformation is, why they are so important and how to effectively create a digital transformation strategy.
What is a Digital Transformation?
Digital transformation is the process of changing the systems and services that a company uses in order to facilitate further growth. It’s an extremely comprehensive process that looks at all of the technology a company uses, rather than dealing with the organisation in a modular way. Whilst creating a digital transformation strategy happens all at once, it can involve planning actions that are years away, such as procuring new products and services to replace existing ones as they degrade.
What makes a Digital Transformation Strategy Important?
There are a few things that make a digital transformation strategy one of the most important things a company will go through in its development. Some of the main factors making digital transformation strategies essential include:
Remaining Compliant
Data security is an increasingly important part of public life, with jurisdictions around the world legislating to provide people with extensive data rights. Effective storage and processing of data is a part of this compliance, with significant penalties for anyone that fails to do so.
By upgrading your technology and processes you guarantee that you work within the most recent guidance and legal frameworks, limiting the potential for financial penalties or worse and helping you to be more confident handling customer information.
Working Competitively
The digital domain has plenty of advantages available for companies looking to get a competitive edge, from customer demographic data that helps with marketing to a design agency using faster computers to keep their staff working quickly.
Better digital infrastructure enables faster and more effective work rather than hampering it, with digital transformation keeping a team working as effectively as possible. Businesses that work without interruption earn more revenue, and a digital transformation opens the door to these opportunities.
Customer Satisfaction
Not only does a company work better internally because of a digital transformation, but customers also reap the benefits. These improvements include having a better quality product, faster turnaround times and more time and capacity for resolving customer issues.
As a result, customer satisfaction increases significantly, with companies building a better reputation which in turn helps with new customer acquisition and existing customer retention. A digital transformation strategy isn’t just about how a business works, but how people better perceive the business.
You can learn more about the benefits of digital transformation in our article 6 Ways Digital Transformation Can Boost Your Business.
How to Create and Implement a Digital Transformation Strategy
Companies follow a series of clear steps in their digital transformation strategies which ensure that businesses are heading in the right direction when they go through their evolutions. Some of the main steps in a digital transformation strategy include:
Assess Your Company’s Needs
Start by looking at your company’s digital behaviour and provisions and considering where the gaps in your technology are. As businesses evolve and grow they start to introduce new technologies organically, but this can lead to an uneven application of systems that leave gaps you might not be aware of.
A digital transformation strategy is your opportunity to resolve this, so do a thorough audit of where members of staff believe there are issues with the company’s digital systems and note down all of the areas for improvement. Assessing properly at the start can guide your work throughout the rest of the process.
Research Thoroughly
Make sure that you research all of your options as thoroughly as possible. There are dozens of different options for each service you require in the workplace, with all of the alternatives having unique price points, features and strengths and weaknesses compared to each other.
Researching in detail means that you completely understand your options, picking the one that suits your company’s requirements best without the risk of investing time and money in a solution that doesn’t work. In most cases, companies consult with experts outside the business to build a bespoke solution that works properly for them.
Be Attentive
Pay attention from the very start of implementing your digital strategy up to the end of the process. Being attentive means that you apply all of the solutions in the right way, taking your time to do everything properly and eliminating any risks that you might face.
If you have little experience of digital solutions, using a service such as an IT Managed Service Provider (MSP) can offer all the support that you need to install and use your new solutions effectively.
Digital Transformation Challenges
There are plenty of challenges to be aware of when working on a digital transformation strategy, the first of which is the issue of uncertainty. As someone that isn’t overly familiar with technology, you’re not going to be completely sure of what the best solutions for you to have may be.
This can lead to strategising taking longer than expected, or investment in products that are far from ideal for the company. Counter this by working with experts such as an MSP, who will support you in making the right technical decisions for the business.
Another challenge that management teams face is that of evolving tech. If you create a two-year plan to develop the way a company works online, the technology that you plan on using will change in price and adjust its features in that time.
When planning longer-term strategies, be aware that there are always fluctuations in the market and prepare to work with these by introducing more flexibility to the strategy. You can adapt to changes on the go and make sure that you’re not caught out by outdated strategising. It’s also always prudent to stay on top of current and future digital transformation trends.
Why choose Eventura for your digital transformation journey?
Eventura have been helping businesses in their digital transformation journey for two decades. From the implementation of industry-leading ERP solutions such as Sage 200 and NetSuite, to helping them move their entire operations to the cloud and away from costly and restrictive on-premise solutions.
As well as being NetSuite Solution Providers, Sage 200 Partners and Microsoft Gold Partners, we also offer a wide range of managed IT services, meaning we can take your business as a whole and help it achieve digital transformation.
If you would like to speak to one of our experts, you can request a free call back here.
