An article by Vinod Nair, Global VP of Sales and General Manager at Noventiq India.
‘Digital transformation’ has become part of the business lexicon – a catch-all term for the journey which every organisation, regardless of size or sector, must take towards operating effectively and securely in today’s increasingly digital world. You may already be familiar with some of the steps in this journey – establishing and developing digital infrastructure, enhancing processes with a spawling array of next-gen solutions and services, and attempting to secure your organisation and its digital assets from external threats.
We tend to view digitaltransformation as being closely associated with technology, which, in the case of the current generation of IT solutions, means the integration of technologies like AI, ML, Automation, DataAnalytics, and IoT into the day-to-day functions of a business with a view to improving the way it works. However, digital transformation is also, at its very core, centred around humans, too. And, here’s the thing – for a company to say that it is truly enabling digital transformation, the synergy between humans and technology must work seamlessly hand-in-hand to achieve business goals. That’s no mean feat, but it’s a challenge worth taking on. The opportunities which next-generation solutions and services offer businesses represent something of a game-changer for companies across industry verticals. So, what do those organisations that approach their digital transformation with imagination, flair, and attention to detail stand to gain?
Secure data = secure reputation
It wasn’t so long ago that the majority of information out there was siloed away as physical documents in filing cabinets, unable to be processed or made available to use in any meaningful way. Today, we are waking up to the idea that in terms of understanding the way our business, teams, customers, and the wider market works – data is gold. However, some organisations, SMBs in particular, are only just waking up to the realisation that it’s their responsibility to ensure that this data is stored securely. Failure to do so can result in customers perceiving the breach of data security as equivalent to a breach of the trust they placed in the organisation.
AI + data = smarter decision-making
Most organisations are entrusted with data of some sort by their customers, but many are yet to take steps to utilise that data in a meaningful way to improve the way they operate. This presents a huge opportunity to gain a first-mover advantage by leveraging digital tools to gain insights into how our customers and employees think and how to improve their experience. While the art of data analysis has traditionally been the preserve of larger companies, the latest tools simplify this process and put the power squarely in the hands of SMBs to unlock the full potential of their digital assets. Deploying AI solutions to work with data presents any organisation with myriad opportunities to analyse the effectiveness of everything from processes to messaging, model the outcomes of changes, and make their decision-making processes faster, smarter, and better-informed.
Investing in secure collaborative tools = happy hybrid teams
Many organisations, especially those involved in creative industries, have found it hard to walk the WFH tightrope following the pandemic. However, the good news is that we’ve come a long way with the platforms available for collaborating on creative tasks, (securely) sharing data, and – for managers – mastering the tools required to keep processes moving along. Advances in mobile internet and business applications have also made it possible for employees to maintain constant connectivity, facilitating better collaboration between teams and between customers and organisations.
Way back when business processes were exclusively carried out manually, offline and with little to no tech involved, humans were exposed to the relentless tedium of performing repeated, monotonous tasks. Now that most critical business functions can be digitised, companies are able to streamline their processes and increase overall operational efficiency. Digitising processes can also improve customer experience by reducing human errors, and improving overall efficiency. A 2021 survey by McKinsey revealed that 75% of transformation initiatives yield cost reductions and improve the employee experience. When done well, automating processes means happier teams and improved customer experience.
Digital transformation is the future, and it’s already here. Its impact on businesses is far greater than we may realise in our everyday lives. While we’ve touched on the most important aspects in this article, digital transformation’s impact stretches far further. It is an inherently people-focused process and demands that organisations rewrite their playbooks to keep up with a fast-evolving business landscape.
Thank you to The Times Of India for publishing the article in their portal Here.