It was found out that 97% of IT decision-makers use a combination of new technologies to modernize legacy processes and identify as well as implement new business model innovation technologies, a recent survey by MuleSoft has revealed. Information Technology has impacted business growth of companies. The concept of digital transformation or business process automation has gained immense buzz across the industry. But what does it truly mean? How much affect digital transformation hacks can exert over businesses and what boost hey can cause in productivity?
In essence, digital transformation means integrating digital technology into all areas of your company’s business. This means you change the way you operate and deliver value to customers. It’s not just an operational change, it’s the change of your company’s mindset to challenge the status quo, experiment and be comfortable to even face failure in the process.
In today’s rapid ever-growing industry, certain digital transformation trends are always going to dictate how businesses prevail in 2020 and the coming decade. An experienced Information Technology Services firm can help companies in achieving business growth through the automation of business processes. The important digital transformation hacks for business success include the following.
- User Experience
- Data Analytics
- Digital Conversations
Let’s explore the these result oriented digital transformation hacks that are a sure way of business progress and can cause industry disruption.
In today’s age, it’s all about customer experience. Consumers are getting more and more demanding with immediate access to products and services data online, social media platform and tailored solutions to match their business needs.
You must be aware of the quote “Content is King” that was coined by Bill Gates, co-founder of Microsoft. It has essentially become “Customer is King” in today’s consumer-centered digitized solutions.
Consequently, consumers use multiple channels for “gratification” of their needs. Such omni-channel customers spend 10% more online than single-channel customers with 74% of consumers carrying out with the assumption that their demands will be met by the companies.
The reason connected experience matters is because it means removing the roadblocks in the customer’s way by making everything accessible as per the demands.
In a recent survey, it was found that two thirds of a company’s competitive edge come from its customer experience. This implies that the impetus behind the make or a break of any business is through its outlook on how its customers are treated. Nowadays, the digital trust is built through social chatbots that are widely used in interacting with customers on websites and social media platforms.
These chatbots are not just there to help customer explore and engage but they play a vital part in completing transactions on the websites. AI has remarkably evolved overtime where even customers have become familiarized with chatbots that know serve as a friendly front for the businesses. Take the example of Siri or Google Assistant on your phone. Although we realize that they are not human, but their characteristics and responses are so life-like and appealing that we continue our interaction without feeling otherwise.
As a result, chatbots help boost a brand’s image – showcase products based on a user’s preference and all that by serving thousands of customers at the same time. Businesses are able to save money, time and effort by having a robust built-in chatbot that works round-the-clock without any breakdown in services at all times.
2020 will see not only chatbots but also physical robots especially in hospitality and medical areas for higher output for companies as these will be the key players for digital transformation strategies.
Business Growth is dependent on analyzing consumer data. In fact, companies that are not relying on data analytics won’t be able to survive in the business for another couple of years. Data without any manipulation is just raw – the evolution of data into valuable information for insights is the key to success for companies in 2020.
It has been deduced that by year 2022, intelligent systems will be driving the customer interactions which makes it important to account for data and identify problems, opportunities and solutions through sophisticated analytics tools.
We are already at the brink of Cloud Computing technologies that have taken the world over by storm. When so much emphasis is being laid on data storage, the next turn is towards smart insights that can help business leverage upon making custom products, solutions and services that serve customers ultimately towards higher ROI for businesses.
Nowadays, all major IT giants including Microsoft, Google, IBM, Oracle etc. are heading towards real-time data processing software solutions for higher analytics which will be one of the main objectives for digital transformation in 2020 and beyond.
In 2019, majority of businesses were backing blockchain but year 2020 has unfolded with CryptoCurrencies gaining more popularity. Especially, after AWS democratizing blockchain technology with their subscription based blockchain-as-a-service platform.
The impact of this breakthrough has been tremendous when already 86% of companies believe that Cloud Technologies is critical to Digital Business Transformation. A lot of other companies are following Amazon Web Services with new trends that will emerge in food safety, intellectual property, royalties, and real estate/asset management.
Business process automation has become an absolute necessity for companies these days. As a result, businesses are looking for instant and high-speed connectivity to ensure smooth running of processes in the system. Many of the companies want to automate basic operations such as employee attendance, leave management systems etc. with 5G technology in 2020, mobile networks will become faster and more reliable for users to carry out basic operations seamlessly.
Some of the biggest names in telecommunications such as Qualcomm, AT&T, Verizon, Nokia, Ericsson and Huawei will be entering the 5G zone which means users of these Telco companies will be benefiting from this technology which will further shape our perception about what is fast, instant and reliable service provided to the users.
70% of digital transformation hacks fail because of the resistant attitude from employees within organizations. As mentioned previously, digital transformation is not just a technological movement; it is a cultural embrace that shapes up how the organization perceives technology. In the era of rapid development, there is very little time for an organization to respond and react to newer developments in technology.
The high pace of growth hacking demands for companies to adapt to newer digital transformation strategies and embark on ways to boost performance and efficiency in their existing processes. There are various areas that can be included in digital transformation within the company such as business process management, enterprise data management, enterprise content management, forms management, e-signature, knowledge management etc.
As part of a digital transformation goal, it is important to first capture the business requirement and then evaluate the ways it can be digitized to ensure harmony within the process as well as the organizational goals. Once, that is achieved then the company can move in a positive direction by getting a higher ROI.
Do you need the digital transformation hacks to boost your business for the unparalleled growth? Be in contact with Techliance today to get a much-required upgrade in the business operations. Streamline your business processes for up-scaling the business and sustained progress.