With each passing day, technology is continually improving, and business are adapting to meet the needs of our ever-changing world. The message of digital transformation is coming very loud and very clear from every possible media outlet; articles, blogs, case studies, panel discussions – you name it. It’s become vital for nearly every business to adapt some type of digital transformation to remain competitive or even relevant in today’s market.
However, the true meaning of digital transformation hasn’t been made very clear. The most common questions we get asked are: Is it a popular way of saying moving to the cloud? Do I need to hire someone for this job? What parts of my business need to change? What about my current business processes?
Luckily for you, the ACC team is here to walk you through the digital transformation processes and give you some useful tips along the way.
Tip: Do your research before starting your digital transformation journey.
Believe it or not, digital transformation has nothing to do with creating new technology. Digital transformation is the response or actions that a business takes as they adopt and overcome technological advances. Formally, digital transformation has been described by CIO.com as the “application of digital capabilities, products, and assets to improve efficiency, enhance customer value, mange risk, and uncover new monetization opportunities”. The effects of digital transformation can be viewed across the board: the way employees work, how daily business processes work, and how data is collected and analyzed.
A business may take on digital transformation for numerous reasons; increase conversions, improve customer satisfaction, or gain a competitive edge. But nine times out of ten, a business will conform to digital transformation for survival purposes. In today’s ever-changing market, it’s become crucial for businesses to adapt quickly to supply chain disruptions, time to market pressures, and rapidly changing customer expectations.
As we’re all aware, recent world events (COVID-19) have brought countless changes to nearly every business. In a study performed by McKinsey Global Survey, companies have accelerated the digitization of their customer and supply-chain interactions and of their internal operations by three to four years. And the share of digital or digitally enabled products in their portfolios has accelerated by a shocking seven years.
In response to the pandemic, the majority of our workforce is still working remotely, and the mindset of digital technology has gone from “nice to have” to “the only way work gets done”. Businesses have adopted automation tools for resilience reasons, chatbots to further the reach of customer support, and drastic clearing of redundant or conflicting methods.
As we now know, digital transformation is about shedding outdated processes and legacy systems and embracing new technology and innovation. If businesses want to remain competitive, they must evolve with the rapid pace of digital change to increase efficiency. For many, this means adopting new processes across the entire business. Automation technology has been helping many gain speed and reduce hidden technical debts.
The simple answer is yes. ERP News explains the role of an ERP software in an organization’s digital transformation as this: “ERP has a major impact on digital transformation. It has the capability of bringing revolutionary changes in various processes of modern business”.
Digital transformation is all about improving your organizational processes to give customers, vendors, and stakeholder the ultimate experience when interacting with your business, right? Well, an ERP solution enables this by integrating all aspects of your daily business processes, leading to greater efficiency, speed, and customer satisfaction. To learn more about the benefits of ERP, read the following blogs: 10 Benefits of ERP for Manufacturing, ERP for Small Businesses, 8 Benefits of ERP for Distribution, and 5 Signs your Business needs ERP.
Digital transformation is a massive undertaking and when done correctly, it will produce a business that is more aligned with customer demands and resilient in the fast-moving digital future. The goals you set and the technology you use will determine what your digital transformation will look like. Regardless of your choices, be sure to properly plan and follow-through with your plans.
Tip: Digital transformation isn’t a destination. It’s an on-going journey.
Begin your journey to a more resilient and competitive business by contacting the ACC team today! ACC Software Solutions is here to walk you through every step of your digital transformation.
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