Understanding the effects of Digital Transformation.
What is Digitalisation?
Digitalisation is very much the buzz word right now, but what exactly does it mean for your business? It’s defined as the process of moving to a new business model that uses digital technologies to generate new revenue and opportunities which, in turn, deliver greater value.
Dispelling the Digitalisation Myth
Digitalisation isn’t just about moving to electronic records from paper or having a slick company website. While there is an element of automating processes and facilitating efficient sharing of information, it’s about more than just technology – it’s an alteration in business culture.
For some, the prospect of change can be daunting. To be successful, it definitely requires staff to be adaptable and receptive to the change, which is one of the biggest challenges to success. The leadership team is critical to this; if the change is communicated correctly, it will be filtered down the hierarchy and embraced across the whole company.
But why are people doing this?
The driving force for digitalization is that a digitalised business model gives your organisation the ability to gain competitive advantage through new channels, engaging with your customers and making your brand connection more tangible than ever.
In an increasingly digitalised world, customers expect to be continually engaged through high quality, simple digital channels. If you can’t fulfil this demand you are leaving opportunities for firms with superior digital capabilities to come in and steal your market share.
Improved customer experience is just one of a handful of benefits gained from digitalisation. Providing the transition from traditional business methods to automated processes is effective, you can also reduce operational costs and offer more competitive prices whilst maintaining your margin.
Shift Towards Digitalisation
By 2020 it is expected that 75% of businesses will have, or will be preparing for digital transformation. Three in ten business leaders are already embracing the process of moving online and now consider their organisation as a ‘digital business.’
The changing landscape is likely to necessitate an alteration in the overall business strategy and specifically the type of skills within the company. A recent study by Gartner found that by 2018, businesses will require 500% more staff members with digital expertise. It may also require an appointment of a Chief Digital Officer to recognise and co-ordinate activities that correlate with evolving customer journeys and to oversee the transition of internal processes.
Smart Tips Approach
Digitalisation and the capabilities it can bring are quickly being considered as a key element to business success. But how can Smart Tips help you?
We are well versed in helping organisations across a range of sectors become digitalised. Using our agile approach, we’ll work collaboratively to prioritise actions that provide rapid value to your business. What we offer is much more than just a quick-fix. We’ll give you support and coaching that ensures you are left with a sustainable legacy for your new, more efficient business model that ultimately provides a better experience for your customers.