Digital technologies - social, mobile, analytical and cloud – consistently impacts organizations and everything involving human activity. To thrive in the digital world, companies must integrate these digital technologies and their capabilities to transform processes, engage talent and drive new competitive business models.
Digital transformation has become an increasingly recurrent term for organizations and is no longer just a strategic issue. It is a new reality imposed. The pressure caused by the pandemic accelerated the digital revolution we were witnessing, originating a transformation in just a few months that would usually take years.
Interestingly, a study developed by Forbes (100 Stats On Digital Transformation And Customer Experience) indicated already, in 2019, that 70% of companies had a technology development strategy, or were developing one.
These numbers were further strengthened during the pandemic. According to a PwC survey (Global Digital Trust Insights 2021), 40% of managers reported stepping up the pace of digitalization in their companies by putting new strategies in place. It should also be noted that 21% are modifying their business models and redefining their operations. 18% are looking to enter new markets and/or sectors of activity.
The digital transformation of the business differs from company to company, but the gains of this revolution are transversal. Let's take a look at some of the most important benefits:
Increased Innovation and Agility
To achieve continued success in a world that is constantly changing due to technological advances, you need to be open to experimenting with some of the emerging technologies. Digital transformation, including growth through new digital products and services, only happens if there is organizational agility. In other words, the ability to react quickly and effectively to what is happening in the market, while continuing to drive innovation throughout the business. It is important to emphasize that innovation and agility are not automatically guaranteed by simply adopting new technology. A culture of innovation and collaboration needs to be created so that new ideas are tried and tested.
Easier collaboration between Departments
The flow of information born from digitalization facilitates communication between departments, allowing the involvement and collaboration of employees from different areas of the company in projects and decision-making. In addition, it gives businesses an overall view of the different entities of the organization. This enables more profitable global management. The fact that information is immediately accessible from anywhere, at any time, facilitates the work between different teams.
Increased capacity to use data
Digital transformation builds a data-driven decision-making culture collected by technology tools. The improvement in analytical systems results in a deepening of data understanding. This strengthens informed decision-making, key recommendations and rapid responsiveness. By having a clearer interpretation of data, we can better understand our users and audience, feeding that information into more developed business strategies. In short, increasing the quality and quantity of data collection and interpretation strengthens all aspects of the business.
Creating a Better Organizational Culture
Having an organizational culture helps employees match expectations and support relevant digital changes. Thus, employees consistently improve their skill base, providing a culture that rewards innovation. Digital transformation is strongly linked to cultural transformation. They are two sides of the same coin, depending on each other to grow and survive. So, for a business to be successful in the future, the company must adopt and implement an ever-changing company culture.
New business opportunities/improved customer engagement
New digital systems enable the production of new products and/or services that were previously not viable for the company, thus creating new sources of revenue. In addition, the speed with which new services are launched has increased. Through the quality use of data (big data) and artificial intelligence, companies can experiment, anticipate trends and predict which new proposals will be well accepted by the market. The bet is to be able to create and offer products and services adapted to the preferences and unique needs of each client. It should also be noted that these new technologies can help companies become more environmentally friendly, creating products that are more ecological and less harmful to our ecosystem.
We can conclude that the digital transformation we were already witnessing was accelerated by the emergence of the pandemic, bringing with it a set of new challenges and opportunities. We must leverage the opportunities by responding effectively to technological, social, economic and human challenges.
grupoGBI's role is to support and contribute to transforming our client’s businesses, improving the experience of consumers (cx) and employees (ex), through innovation in information technology, providing creative, intelligent, sustainable, secure and responsible solutions.
We exist to be a vehicle of innovation and transformation of lives and businesses. Offering a portfolio of solutions based on emerging technologies and consulting, development and support services for these technologies. We innovate daily in optmizing systems, maximizing their performance and efficiency in an environment of digital collaboration.
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