A common term now is ‘Digital Transformation’.
What does it mean?
Why is it important?
Should I start transforming my business to become more digital?
This article will discuss the basics of Digital Transformation to help you understand it more. Now, let’s get into the meaning of this phrase.
What is Digital Transformation?
Let’s start with the definition. Shmarzo defines digital transformation as the “application of digital capabilities to processes, products, and assets to improve efficiency, enhance customer value, manage risk, and uncover new monetisation opportunities.”
In simpler terms, it’s the process of bringing businesses into the digital age. It’s 2020, so if your business doesn’t meet the current demand for technology or integration of technology, you are behind.
Why is Digital Transformation important?
It isn’t important, it’s essential. Technologies are needed to keep businesses alive and thrive. Especially in 2020. There are countless reasons as to why it is important, but here are a few examples.
Security
A major priority for any business. Security is a significant player in digital transformation. Being able to protect your business from attacks makes your business look and perform stronger.
Having the right security strategy and technology will help secure your business, customers and other important information.
Process Automation
Another great reason for digital transformation is the convenience of automating your business processes. As artificial intelligence (AI), internet of things (IoT) and big data improve every year, your business can take advantage of the benefits of business automation.
Customer support has really taken hold of the process automation with chatbot automatic responses.
Business & Employee Efficiency
Enterprise applications and CRMs are improving businesses in so many ways. These sorts of software help gather information, manage processes and improve productivity. Being able to learn from a company’s statistical data will help narrow down any problems and find a solution.
Lean Process Development is also a necessity for digital transformation in 2020. This “is a concept that emphasizes optimizing efficiency and minimizing waste in the development of software”. These applications are able to eliminate any unnecessary activities within a business to result in a reduction in costs.
2020 has made remote-friendly apps a must. Working from home has been a trending topic this year and some businesses need to take the leap of digital transformation and integrate applications that allowed their business to run in and out of the office.
The e-Commerce Spike
Many physical stores were forced to close due to the pandemic in 2020. Owners had to find new ways to keep their business afloat. “The eCommerce industry is growing 23% year-over-year.” Selling online enables customers to access stores at any time allowing the business to keep running.
Digital Transformation x Fonseka Innovations
As developers and technology strategists, Fonseka Innovations can help businesses take the leap of digital transformation. Whether your business needs a new enterprise application, custom application, website or online store, we can help.
Just head to our contact form and tell us how we can help improve your business with technology. Get in touch!