The Three Most Important Strategies Digital Transformation Will Do For Your Business
The phrase “digital transformation” gets tossed around a lot these days. But it’s more than a catchphrase. It’s a powerful concept that can work wonders for any company in any state or industry. Read on to get to know what a digital transformation is and its three main benefits.
What is Digital Transformation?
Digital transformation means integrating technology into all aspects of your business, be it customer service, marketing, sales, HR, financial management, or what have you. IT tech has advanced at a rapid pace over the last few years, offering business owners from all industries a wide range of products, services, and amenities that can have a dramatic, positive impact on any company.
It’s important to note, however, that digital transformation doesn’t just mean spending more time working on a computer. It’s about finding the most effective digital tools for your company and putting them to work for you. What’s more, it’s an ongoing process as your industry changes, and digital hardware and software are created or updated to address new needs.
The Three Most Important Benefits of a Digital Transformation
A digital transformation will undoubtedly be a lot of work for your company. You’ll need to identify the best tools for your business, purchase them, install them, and teach your employees how to use them. Even so, the benefits of a digital transformation far outweigh the hard work and initial learning curve. Consider the following advantages of embracing digital transformation now:
- Boosting Employee Engagement. Recent statistics show that disengaged employees cost the United States economy more than $600 billion every single year. If you’re don’t want your company to be part of that statistic, digital tools can make a huge difference by enabling workers to access data and communicate with each other with ease. For instance, Molly Moon’s in Seattle discovered that setting up an online collaboration platform for employees not only boosted employee engagement but also helped workers become more efficient than before.
- Staying Ahead of the Competition. As failed companies such as Blockbuster have found, staying in step with technology can be a matter of life and death for a business. However, that doesn’t mean that all business owners understand the importance of staying abreast of current technology developments that could impact their industry. An IDG white paper found that while nearly 90% of organizations plan to adopt a digital-first business strategy, only 44% actually do so. Joining the ranks of the 44% could put you ahead of competitors, enabling you to gain market share by providing faster, cheaper, and more efficient assistance than other businesses in your industry.
- Increasing Profits. Some experts estimate that businesses that adopt digital strategies such as making data-based decisions and training employees to use new technologies can boost revenues by 23%. At the same time, an MIT study discovered that companies that implement a digital transformation are 26% more profitable than businesses in the same industry that fail to use technology to its full potential.
Getting Started with a Digital Transformation
Technology Advisory Group is an IT managed service that specializes in offering custom IT consulting to meet your exact needs. Our team works with you to identify needed technology upgrades, recommend specific IT hardware and software, upgrade your technology, and train your employees to use your new digital tools with ease. What’s more, we pay close attention to your budgetary constraints to ensure your digital upgrades are not only efficient but also affordable for your business. Get in touch with us at your convenience to start the process of moving your business into the future and ensuring your long-term success.