Digital transformation is a reality that companies must face today. Undertaking it is a long-term process. The barriers for those companies that have focused their investment in innovation in the short term to overcome the current crisis are greater than those that have invested their efforts looking further ahead.
In this situation, the development of good strategies for digital transformation is essential. The coming years will play a key role in the lives of millions of companies that will have to optimise their operations with digital transformation as the basis for their economic recovery.
The COVID-19 crisis has pushed companies into digital transformation
The COVID-19 crisis has made the need for companies to carry out their digital transformation a priority that they cannot ignore. In this new scenario, it is estimated that investments focused on digital transformation will see an increase in the coming years.
The importance of an adequate and efficient digital transformation is key for the economic development of companies. The paradigm that companies are going to face is totally different from what we could find in the recent past. By 2023, it is estimated that half of all companies will generate more than 40% of their revenues from digital products and services and that 90% of companies will prioritise investments in digital tools.
The cornerstone of this change that companies will experience is the reorganisation of the business units to streamline them, one of the most important digital transformation processes. The basis of this consists of stable, modular businesses; moving between various business axes for better stability.
The use of all available information through tools based on Big Data to guarantee total access for organisations must be contemplated in a digital transformation plan. This is the way to be able to react in an agile and intelligent way to react to situations such as those generated by COVID-19.
Actionable intelligence: the new normal for digital transformation
Digital transformation is a paradigm shift for companies. It is not just about integrating new digital strategies and technologies, it goes beyond that. It involves a change of culture within the company in its relations with consumers. It is a new way of generating value for consumers and of methodology in the development of actions in your business.
Prioritising data and digital technologies in business opens up innovative revenue channels and more competitive (governed) business operations. But it is not a simple process. To get to the point where a company can plan, develop and execute its decision making based on data analysis and interpretation (e.g., data analytics), it needs to be able to use data to make informed decisions.data driven), a digital transformation strategy must be implemented.
In order to achieve a digital transformation The priority should be placed on achieving excellence in end-to-end data management, adapting to the objectives, individual challenges of each organisation, its customers, its ecosystems, and its optimisation and innovation goals.
The digital transformation strategy is built around the need to close the gaps between today's data-driven objectives and processes and the business objectives and processes envisaged for the future.
Investing in digitally transforming your business pays off for you competitive advantages in both the short and long term. These are the most important:
- It promotes a culture of innovation in the company.
- Improve the efficiency of processes in organisations.
- It contributes to fostering collaborative work and internal communication.
- It provides rapid responsiveness in a changing environment.
- It offers new business opportunities through data analysis.
- Improve the customer experience and their relationship with the brand.
The digital transformation can no longer be considered an option. Today, companies need to renew themselves by adapting to digitalisation if they want to remain competitive.
Trends for digital transformation in business
- Data Management.
- Business Intelligence.
- Big Data.
- Advanced Analytics (AI).
- Cloud & Devops.
- Front & Back Development.
- UX/UI design.
- BPA (Business Process Automation).
- Internet of Things.
Taking the plunge and investing in the digital transformation of your company is not an option, it is a reality. In today's fast-changing world, the digitisation becomes a vital necessity for the survival of your business in the market. Evolving and adapting is the only way out.
But taking the plunge means taking it in the right way so that you don't take one leap forward and two leaps back. As a starting point, they need to analyse which aspects need to be digitised and which ones have the highest priority within the company.
At Bosonit we help companies to develop their digitalisation processes, finding their niche or opportunity that makes them different from others. It will depend, among other factors, on the area in which your company operates, to know which digital transformation processes should be followed.
Staying stuck in the past is not an option if you want your business to grow and compete in the midst of the technological evolution in which we are immersed. We must all be involved and willing to embrace digitalisation.