A lot has been spoken about ‘Digital Transformation’ since the past year. In 2018, a number of businesses have jumped into the digital transformation bandwagon. But what exactly is this term about?
Digital transformation refers to the integration of digital technology in all the areas of business and fundamentally changing how you operate and deliver value to customers. It also brings about a cultural change which requires organizations to continually seek innovation and experiment. Due to a number of advantages, digital transformation is now becoming a must-have strategy for all businesses, because it relocates technology as the main driver for business rather than just being a supportive element.
If you are a local business owner in Muskogee, then here are 5 reasons why digital transformation should be on top of your to-do list.
1. Digital transformation helps in meeting customer expectations.
The customer-oriented digital transformation may bring a positive effect on revenue as well as profit in your business. It may widen the outreach of your brand and quality of the information which you share in terms of volume, customisation, and interactivity. According to a recent study, the trade-off between scale and intimacy towards the customer is no longer considered as viable. Taking a quick scan through the market can demonstrate that the technology-oriented companies are gradually consuming the market share and leaving the competitors behind.
2. Digital transformation is a great marketing tool.
Customers can now avail services from a wider range of innovative businesses and technology-oriented start-ups. They also now expect businesses to invest and advertise in innovative ways of advertisements and offer better services. Digital transformation thus becomes the best example to innovate and come up with new services every time.
3. There are no more resource constraints.
Digital transformation enables the businesses to convert into cloud-based enterprises and get rid of the hassles of resource constraints and reduce the capital expenditure on technology. So gone are the days when you need to maintain a server room in the company headquarters or buy hardware. You can now do business in a hassle-free manner without any resource restraints.
4. Helps you in building the right data captures.
Many companies struggle to understand the value of data which is assimilated about their customers or internal processes. However, with digital transformation, this task is becoming easier. The reasons behind this are; firstly, the data is becoming a profit center rather than the cost center and it is becoming easier for the businesses to reduce the guesswork and gather the correct data using capture tools in their processes and channels.
5. Digital transformation helps in lessening the cost and bring in instant upgradability.
Digital transformation permits businesses to reduce operational costs and improve their profitability. By migrating the data to the cloud, businesses can now decrease their total cost of ownership by about 70 per cent and host their applications on premises. Furthermore, businesses can divert funds for technology CAPEX to more important needs.
Also, one of the most crucial and supreme advantages of the cloud is the ability to manage the changes in demand through Elastic Computing. When you utilise new technologies like chatbots, the capacity demand of your website increases substantially. But at the same time, chatbots can enable you to have a virtually unlimited number of service staff without hiring extra manpower.
In a nutshell, the constantly expanding digital transformation is continually evolving and can affect businesses according to the industries in which they operate. SPARK Services thus encourages all the local businesses in Muskogee to utilize digital transformation to experience substantial advantages in business. Simply call us to explore how we can help you in this journey!