Digital Transformation is a subject that is already part of the everyday life of many companies, it is undeniable that the pandemic situation we are experiencing has accelerated this urgent adoption of new ways to communicate, work, produce, and reach customers.
The need for constant adaptation of business models has become part of the new normal and should be seen as something natural, companies should consider that being present in digital media is fundamental not only for competitiveness but also for their maintenance and growth in the market.
In the Digital Transformation Growth study conducted by Forbes, about 100 statistics are analyzed that demonstrate the importance of TD, one of the most revealing being that 90% of companies believe that Digital will revolutionize their industry sector. Only 45% of companies are ready for this transformation, and 55% of companies that have not yet undergone the transformation believe they have less than a year to do so.
In another economic study conducted by McKinsey, it was shown that companies with greater digital maturity are the ones that will be more predominant in increasing their results, leading earnings and notoriety in their respective sectors, as well as more likely to retain or attract new "talent" to their teams.
Given this information, companies that have not yet implemented a digital transformation strategy should manage this risk prudently, always evaluating the impact on the company's growth.
Remember that the digital transformation process must be preceded by a change in corporate culture, and must be led by top management and be transversal to the company's culture and values.
In our view, the 4 Pillars of Digital Transformation (DT) in companies should be based on the following vectors:
- Work Location
They are the most valuable asset of any company, and therefore the ones responsible for the success of any transformation that one wishes to undertake. The adequacy of methods and technological advances will not be satisfactorily achieved without taking the human aspect into consideration.
One of the main characteristics of TD is to leverage human qualities such as inspiration, to reduce barriers between company and end customer. Keep in mind that 50% of data analysis projects will involve customer feedback.
The training of employees with tools and knowledge in the IT area, will be a major factor in the success of the Digital Transformation of any company. On the other hand, the role played by the customer has been radically changed by technology, moving from a passive posture to a highly interactive one, influencing brand recognition and position in the market.
In this context there is another concept that is inherent to TD that is Crowdsourcing, which will guide the decision processes based on the knowledge of the data obtained by the collective experience of both employees and customers.
Processes and Technology
The structuring of new processes involves an analysis of the possible impacts of the new technology with a paradigmatic approach, anticipating possible undesirable effects and accelerating the necessary TD to this new market reality.
Optimizing internal processes has never been as important as it is now, because they have to be increasingly agile, innovative, and interactive.
A successful process must unite automation of information organization with a focus on the company's sustainable growth plan, integrated in the company's digital transformation.
For companies that have already embarked on the path of digital transformation, the main benefits are:
- The increase in operational efficiency (40%);
- The fastest market entry (36%);
- The ability to meet customer expectations (35%).
Based on the blog: techedgegroup.com/pt/blog
However, the most important ally of companies in TD is technology, which directly impacts customer relations and the optimization of internal processes.
The so-called "Purchase Journey" is mostly done online through digital media and the relationship with the customer becomes real-time. Therefore, even if the company is not from the technology sector, it has to be present and integrated in the digital environment, in order to meet the expectations of its customers.
Workplaces will also be changed by the digital transformation in companies, as the new decentralized processes will force greater mobility, collaboration, and force companies to strengthen cybersecurity for a greater perimeter of the workplace.
Promoting smart&safe worksapces will be a concern for HR to enhance mobile work fully integrated into a secure platform that allows its employees to work with full protection wherever they are.
Do an independent assessment of your company's security policies before starting the process of digital workplace transformation, as this is the only way to ensure that you are properly prepared for the security challenges you will face in this new reality.
If you enjoyed this article, don't miss next week's chapter 5: Practical Cases - Companies that have already taken the leap into the Future.