Implementing technology in business is causing business models to make changes. The rhythm of this change, however, depends on every enterprise. Some of these firms have yet to embark on their Digital Transformation journey that could be key to their future survival. The success of these initiatives lies in the ability to adapt to a world so rapidly-changing as ours. This context undoubtedly requires investment in enterprise technology. It goes through its adaptation based on the needs of an organization and should focus on results, innovation, and continuous improvement.
Innovation, coupled with a digital business transformation strategy, leads to improved business performance. The impact lies in the ability to embrace the digital transformation to speed up tasks, processes, skills, and models. The digital transformation business process capitalizes on the changes, impact, and opportunities stemming from these technologies for organizations strategically.
Technology’s importance is indisputable if your company’s goal is to be successful in the future. However, change management is a pending task for many organizations in Spain. According to statistics from the Instituto Nacional de Estadística (INE) in the study, Digitization in the Spanish Enterprise from UGT , there was a 25% decrease in organizations’ information technology (IT) spending in 2019 compared to the previous year.
For those organizations that have yet to start a digital transformation strategy, the consequences can be dire. Now more than ever, investing in technology is imperative. If your enterprise is one of them, it’s time to get started by using a 360° strategy that incorporates technological innovation, user behavior to adapt your digital customer experience , the involvement of all stakeholders, and defining a plan along with external factors.
Business benefits of the Digital Transformation
The Digital Transformation does not only involve technological innovations and the business disruption they cause but also how organizations adopt and use these tech innovations . That causes questions to arise about how much value they bring to an organization and the ease or difficulty it takes to incorporate them into their business processes.
For its evaluation, consumer behavior and technology’s demands come into play. It requires more exceptional technological capabilities along with the dream of it being easy-to-use. Organizations also have to simultaneously consider external influences, like regulations, economic change, or competition in the market. With all of this, we can infer that technology’s influence on enterprises plays an impact on critical metrics like profitability, customer satisfaction, and adaptation to market speed.
Phases of the Digital Transformation in enterprises
The prior reflections make us realize we need to adapt to this new framework where digitization regulates consumer behavior since we assume small, medium, or large business transformation lowers costs and increases competitiveness. Examples of digital business transformation show that this process translates into implementing universal digitization in three phases:
Phase 1: Change management
Every stakeholder should be aware of the change they’re about to face. You may need a third-party vendor to help implement and foster the new technological solutions and make their integration successful. They may require new jobs, especially in upper levels of the org chart, that specialize in managing these tools.
Phase 2: Defining the organization’s Digital Transformation strategy
How can we deploy and measure the efficacy of these new tools? We’ll need to rely on Marketing Automation tools and the functionality and opportunities they author, especially in their ability to automate many processes. The timing savings can let you spend more time on other tasks such as measurement and analysis that help foresee new opportunities or threats for your enterprise.
Phase 3: Integrating technology in corporations and its evolution
The combination of strategies and channels is critical for the Digital Transformation process. As a result, the service the company provides should be omnichannel. It entails a process in continuous evolution where third-party alliances can lead to advances in digitization.
We should understand the Digital Transformation as a revolution and not a change, although every industry has a different adaptation process. Technological changes will go along with designing workflows, supports, communications, and the other areas of an enterprise.
In the context of digital business transformation, business functions, such as processes, activities, assets, and models, are all interconnected. Digital Transformation is the remaining challenge in change management. The impacts have not solely been in industrial structures and strategic positioning, but the organization as a whole. Business leaders should continuously be on the alert in their organizations to guarantee this change can unlock improved productivity and a significant competitive advantage stemming from an exceptional customer experience.
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