Why Are Businesses Experiencing Digital Transformation?
What is Digital Transformation?
Digital transformation is defined as the integration of technological appliances and devices in almost every functional area of any given business or company. As the definition shows, it’s not just a theoretical change but rather a very practical and innovative one. Therefore, its effects include and impact more than just the operations of the business. In fact, it also helps revolutionize the overall development and management of the company as well.
How Does it Impact Businesses?
Every aspect of a business is affected by digital transformation. From the traditional use of hardcopy records to the additional labour required for security checks, everything changes. The operations department witness revolutionary changes, due to digital transformation, in its speed and efficiency as well. Tasks that required manual data entry and a person working full-time to fill in the data every day can now be done in a matter of seconds.
One can understand how digital transformation helps by referring to the fact that almost $1.97 trillion USD will have been spent by 2022. This is the amount businesses and companies are spending to enable themselves to operate and function digitally.
Why Is It Necessary?
To put things in perspective, let’s consider an example of two warehouses.
Warehouse ‘A’ has an automated mechanism for loading and unloading inventories. It also has an updated inventory data management system as well as security measures in place. Moreover, with the help of these innovations, the staff is better able to tackle customer queries and provide better support.
On the other hand, warehouse ‘B’ that relies completely on manual labour has to deal with a lot. The staff, no matter how many people are employed, are going to face problems and errors during loading and unloading stocks. Inventory management done on hardcopies will require time and storage, not to mention the possibility and probability of bookkeeping errors. At the end of the day, the staff is going to be out of breath, patience, and be too exhausted to deal with customer queries and complaints.
Benefits of Digital Transformation
As the above example illustrates, digital transformation is key to improving the performance and development of any business. When we apply the same revolutionary improvements in a marketing agency, we get a dynamic model of the perfect business that can promote other businesses worldwide.
Earlier, everything had to be done on the ground, like making and distributing pamphlets, employing door-to-door salesmen and spokespersons for different events and gatherings. However, companies can now have the service of digital marketing in Dubai to spread the word digitally. Not only will it be done in a matter of seconds, but it will also reach out to audiences around the whole world. In addition to this, you’ll also be able to specify and narrow down the potential customers that you want to attract.
The most important aspect of digital transformation other than global outreach is cost reduction. Thousands of companies have experienced how digital innovations have lessened the investment costs they needed to function properly. Where they once had to employ people and purchase stationery items to keep records or perform any task, they now just need a computer.
Teams of people who were required to take care of inventory are now replaced by a single person on a screen. In fact, efficient and hard-working CEOs are able to take care of everything other than the operations on their own. That includes managing accounts, finances, customer engagement, business outreach, etc.
It’s clear that technology promises efficiency and productivity on a whole new level. You can achieve a multitude in terms of tasks and operations in a single go. In fact, you can do things even on the go. This saves time, money, and delivers quick results that are reliable as well. You won’t need whole departments that are dedicated to analyzing something in a week. Now, it takes a simple software around 2 minutes to do everything and provide you with a well-detailed report.
Similarly, financial management is easier than it ever was before. Instead of taking heaps of cash with you to secure a deal, you just have to open an application on your phone, and voila! Whether you’re transferring cash to the person next to you or someone who’s sitting beyond the continent. The process will remain the same and the results will be much quicker than before.
The game now revolves around who can deliver the best customer experience. Big brands, companies, and even grocery stores are now competing to see who can attract the most audience. Since almost anyone can now go for advertising, the competition is now targeting user and customer experience. This has revolutionized the market and paved the way for improvement with respect to the needs of the customers.
Regardless of what you choose, digital transformation has become the need of the world and every industry. You have the choice of either hiring companies like Zigel to help or going at it yourself. Lacking behind will only result in losses and little to no development. So, stay ahead of the game because the world has just picked up the pace.