Businesses considering digital transformation can gain significant performance improvements as long as they choose technologies and approaches that align with business goals. We are in a digital age: every company is now technology-based, relying on technology for a vast proportion of operations. Organisations are faced with all kinds of new expectations surrounding data, video, and voice. Competitive advantage now depends on how businesses use digital infrastructure and the massive amounts of data flowing across it.
Consequently, most organisations are undertaking digital transformation in some form. Many are going beyond simple automation tools and cost-saving measures to revolutionise their business models and discover new growth opportunities. Industry analysts project digital technology spend will surpass AU$966 billion before end of this decade.
Invest in technology that provides the biggest impact
Given the vast array of technologies available to empower business transformation, it’s especially important for decision-makers to focus investments on areas that will have the biggest impact. With limited capital resources, businesses can usually only accomplish a portion of IT requirements in-house. Freeing internal resources to accelerate innovation can open new avenues for advanced initiatives like cloud, big data, and managed services solutions.
Organisations can reduce IT complexity and drive real-time scalability, reduce capital costs and improve time-to-market. A focus on advanced data and analytics also puts organisations fully in charge of optimising operations and improving overall customer experiences. Within the next few years, leading companies in the global economy will run their businesses on IT infrastructure that extends beyond the 4 walls of an organisation.
Business leaders are taking an active role in choosing solutions, which necessitates better engagement paths for developing and delivering cloud initiatives with non-IT executives. However, interactions shouldn’t be geared towards basic education but towards building new capabilities and new advantages through interconnected technology systems.
Digital transformation requires correct implementation
While there are clear advantages to adopting digital technology, it will only deliver a return on investment if it is implemented correctly and serves a purpose. For example, by outsourcing some infrastructure needs, businesses can free up resources to focus on creating new kinds of value for customers, and make it easier for employees to work efficiently.
Any organisation undergoing digital transformation also needs to ensure it is a company-wide adoption. If employees are unaware of how new processes work, or not given correct training to understand new systems, then the digital technology will not be used to its full potential and could become a financial burden.
Digital transformation takes many forms and the best programs are tailored to the needs of an individual organisation. They empower individuals to think in new ways about business models, process improvements, and how to translate basic customer needs like service, confidence, and satisfaction into a new era.
