If we look around, we see the world’s beauty; we see skyscrapers, massive dams, airplanes, etc. However, there was no concept of such advancements only a few decades ago. The world has changed greatly because human beings consider changing a constant variable.
Human beings have changed a lot over the past hundred years; the way of living, thinking, and ideas have changed. Especially the way they share their thoughts or do business.
We started doing business with the barter system, and now our economies completely depend on businesses. However, people have forgotten that change is the only constant variable, and only through change can they stay relevant and unbeaten. Digital Tranformation is the only change that can keep a business relevant and alive in this period.
What Is Digital Transformation?
Digital transformation is the process of bringing digital technologies to form new or modify the existing business. The redevelopment of the business according to digital technologies in the digital age is called Digital Transformation.
Digital Transformation is the remaking or redevelopment of a business. Digital transformation affects the whole business. It updates the business’s technology and makes it the most relevant with time. These changes are prominent with technology b it also focuses on improvements and advancement of techniques, functionalities, and management.
According to Jhon T. Chambers, the former executive of Cisco, At least 40% of businesses will die in the next ten years if they don’t figure out how to change their entire company to accommodate new technologies.
Many companies are trying to transform their business digitally. However, they fail because they don’t know how to execute it properly. Digital transformation has several steps, including assessing the company’s capabilities, getting the right buy-in, bringing the right skills to the right place, and preparing the business’s most suitable action plan.
MMCGBL is one of the leading agencies, with over 150+ experts who have gotten their expertise working in the field for decades. MMCGBL has more than 300 clients and 25 years of extensive experience, with over 200+ award-winning projects. We realize the importance of technology and advancements and make sure we build a digital experience to strengthen your business.
Digital Transformation Benefits
According to George Westerman (Principal Research Scientist, MIT), When digital transformation is done right, it’s like a caterpillar turning into a butterfly. Still, when done wrong, all you get is fast moving. If done correctly, digital transformation can benefit you and make the business grow massively. Following are the major benefits of digital transformation.
Data Collection Optimization
Data is the most crucial thing for a business. Almost all enterprises collect loads of customer data, but there is no point in collecting data if it can not be used properly. Digital Transformation creates a system for collecting relevant data for the business and then optimizing it for the company’s enhancement.
Data collection is a very important part of any business; more important is how the data is collected, stored, and analyzed. These are the founding steps of creating an effective business plan that benefits the overall transformation and development of the company.
Enhanced Resource Management
Digital tranformation is not only for the functional unit or the information department. Instead, it is for all the departments. From marketing to sales and HR, all elements of the company are focused.
Digital Transformation makes the information and resource tools stronger. It ensures no vendor overlap. It optimizes resource use and provides the fewest issues. Digital Transformation can integrate applications, databases, and software into a central repository for business intelligence.
Customer Insights
Data is the only way to unlock customer insights. The more you understand your customer and their needs, the more you can create a customer-centric strategy. There are many ways of collecting data. You can collect unstructured or structured data through different social media insights that can help your business grow.
Data enables you to get to know more about your customers. It allows you to create strategies that provide the most suitable, relevant, and agile content with a personalized touch. These things can help you become unique among the competitors and eventually improve your business.
Increased Agility
Digital transformation is the ideal way to ensure your business won’t get obsolete in the future. If done correctly, the business becomes agile, and the future becomes secure.
The business can increase its agility with digital transformation; this will improve its speed to market and adopt continuous Improvement (CI) strategies.
Improve Productivity and Profits
Employes are the warriors for any company they fight and the company. But it is important to understand how to maximize employees’ capabilities. Digital Transformation creates pathways that make it easier for employees to follow. It also creates a streamlined workflow which improves the productivity of employees. The ideal way to empower your team members is by automating the manual tasks and integrating the data throughout the organization.
Organized workflow for the employees improves their productivity, eventually leading to more profit for the company. It is by far considered that companies that undergo digital transformation improve efficiency and probability.
Many surveys confirm that 80% of the companies that have completed the digital tranformation report increased profits; 85% say that they have increased their market share. Moreover, on average, leaders expect 23% higher revenue growth than competitors.
What Makes Integration So Important In Digital Transformation?
Since COVID, digitalization has become a goal for organizations. But just adopting software solutions into business workflow won’t lead to digital tranformation. Software tools won’t be effective unless an end-to-end integration is operated in isolation, and also, an environment is created where humans and technology interact freely, preventing workflow automation.
Data Isolation
A few common errors found in almost all companies include the isolation of data generated by one department to its circle. This is the root of all, as data can be used repeatedly and by each department. Many companies do this because they prioritize different departments of an organization, leading out-of-focus initiatives, overstretched resources, and subpar results.
Data integration comes as a savior in such situations. Integration plays the most crucial role in digital transformation. It removes all the data isolation, providing one single platform where all departments can exchange their data. It is important that the whole company comes under one roof and work collaboratively to achieve the goal of digital tranformation.
Data Migration
The best feature of integration is that it forms an organization-wide environment where all the systems are connected, and even new systems can be added. Moreover, it removes the systems that have become obsolete without even compromising the data stability or security.
Transfer of data becomes a hassle without integrated software infrastructures. Many companies even lose millions of dollars because of data duplication caused by manual data entry.
Data Synchronizing
Data integration keeps synchronizing the updated data in real-time across all the systems, removing the need for manual data entry and cases of redundancy and improving overall productivity.
The best part of Data integration is that it makes the data accessible to all departments, which makes all the departments aware of everything, resulting in better coordination among all departments.
Data Accessibility
One crucial issue that integration has solved for digital transformation is that it has made a centralized dashboard for decision makers to leverage data generated by every touchpoint of the workflow. Before this dashboard was created and provided by integration, many important data would go ignored. Due to the easy accessibility of the data, the business strategies and actions plan have been made much better and more sustainable, resulting in more revenue and less operational costs.
New Technologies And Updates
Upgrading existing technologies with new technology is very important for digital transformation. But it becomes quite difficult as new technology frequency is very frequent. Also, it becomes costly and time-consuming for the organization to keep upgrading the existing technology. Integration has helped in digital transformation and upgrading the organizations’ legacy systems. Integration has provided a centralized platform through which old and new designs can exchange data. At the same time, organizations can reduce costs and keep using their legacy software infrastructure while adding new functionalities.
Hence, it is crystal clear how integration is a secret ingredient in building an organization’s digital transformation. Integration helps in the early steps as well as throughout the transformation.
Best Examples of Digital Transformation
Asian Paints Ltd.
Asian Paints Ltd is one of the best examples available in the paint industry. Asian paints started as a small company and provider of coatings in 13 regions of India. Still, with sheer dedication and determination, they have now become the provider of coatings, painting services, design services, and home renovations in 17 countries.
The company did not use something out of the box. Instead, they kept a very simple yet effective approach in their transformation. Enterprise Resource Planning (ERP) software powered the transformation of Asian Paints. They supported them through software, call centers, mobile phones, tablets, analytics, machine learning, and autonomous manufacturing. However, the thing that gave them a proper win was the leadership that gave the company a huge boost and constantly gave them the assurance and energy that made them achieve the goal of their digital transformation.
IKEA- Make Your Own Furniture
IKEA is the furniture industry’s king and the most prominent example of digital transformation. IKEA has made it well-known that an effective strategy where the goal is oriented towards the consumers will be highly appreciated.
IKEA focuses on transforming so that it becomes easier for people to choose their favorite piece of furniture.
In 2017, TaskRabbit was acquired by the company and made a few changes. TaskRabbit is a website that helps you assemble and deliver the furniture purchased at IKEA. Due to this website, people who couldn’t manage to get their tasks on their own can now get them done on time.
Moreover, IKEA introduced an AR in its application, making it easier for the customers to choose furniture and virtually furnish it in the apartment; this gives them a wholesome experience. These things have made IKEA.
Final Words
Digital Transformation is the best way to ensure a business’s existence in the future. Since COVID, almost all companies are trying to digitalize themselves. However, it is not as easy as they look at the price, not the journey. Many companies just jump into it without actually planning it, but we have many examples of ideal digital transformation.
Integration is the secret ingredient for digital transformation. Integration assists digital transformation through bringing data from data isolation, enhancement in data migration, data synchronizing, and data accessibility. Digital tranformation cannot be done without integration. It is the secret ingredient along with the most important ingredient as well.
MMCGBL is one of the leading agencies that provide digital transformation services. We deliver outstanding results, which our 200+ award-winning projects can conclude. We are the pioneer in digital transformation solutions. Our competitive market pricing and dedicated team have helped us stay relevant in the market for more than ten years.
MMCGBL is a digitized first and specialist digital transformation consultant. We can help you explore the new horizons of your business with our expert opinion and understanding of the market.
Digital Transformation Secret FAQs:
Why is Digital Transformation Important?
Businesses today urgently need a change in data collection and organizing, done in a timely, accurate, and meaningful way. Business today depends on the data and, more importantly, relevant data. Any shortcoming in data collection or organizing may result in a major loss for the company. Hence, Digital tranformation is crucial because it enhances and optimizes how data is collected, stored, and utilized.
What Are the benefits of Digital Transformation?
Digital tranformation is the need of the hour; hence it has many benefits like:
- Improves Data Accessibility and Reliability
- Improves Customer relations
- Improves reporting and analytics
- Increase productivity
- Improves agility
- Improves Cost and Risk
- Improves Revenue
Will Digital Transformation and Technology replace the employees?
No, digital transformation intends to enhance overall productivity and performance. Technology can not replace humans’ ability to think creatively, critically, strategically, and collaboratively.
