Many business owners are confused by the term “digital transformation”. Most ignore the process and never integrate it into their business model and as a result, they are losing money, resources and time.
Too many business owners think that digital transformation is the same as building a better website. While improving your website is definitely beneficial, it isn’t digital transformation! A beautiful, engaging and fully functioning website is the RESULT of digital transformation.
We are here to put an end to this misunderstanding and explain why YMTech believes digital transformation is something every business should consider, no matter how small or big their operation is.
Are you ready to make radical changes and start growing your business today?
Let’s do it with YMTech!
Digital transformation is the process of changing how your company operates, so you THRIVE in the digital era! It’s about integrating digital technology into all areas of your business, changing how you operate and how you deliver value to your customers using safe, reliable technologies. By identifying processes that can be fully automated, you can finally start growing your business and increasing your income, while the technologies take care of everything else.
While it is clear what “transformation” means, everyone has a different understanding of the word “digital”. One business owner may think it’s about going entirely paperless; for another, artificial intelligence or data analytics may come to mind. This here is the main problem. Even the word itself means many things to many people.
Digital transformation usually starts with a problem statement, a clear opportunity or a goal. The focus may be on project management, improving your team’s performance, increasing productivity or elevating profitability. It can also be an aspirational statement or a desire to be the absolute best company to do business with. Inside a digital transformation, you may discover tools such as data analytics, technologies and software.
One of the most fundamental elements of a digital transformation is moving to cloud services. 90% of companies are now doing business in the cloud. As more data is moved to the cloud, much of what is being done is to replicate existing services into a digital format. Moving data to the cloud lowers operational costs. And as you significantly reduce software and hardware costs you give your team the time and energy to focus on more important tasks. It affects every level of an organisation by bringing together data, so teams can work together more effectively. That’s why it’s so valuable for business: it fully changes the way an organisation operates.
Here are 5 benefits of digital transformation for almost every business:
1. Data collection
Most businesses are gathering a lot of data on their customers. However, the real benefit doesn’t lie in the collection, it is when we optimize this data so the business can move forward. Digital transformation creates a system for gathering the right data and incorporating it fully into operations creating high level business intelligence.
It also integrates company information and resources into a suite of tools that sits together in the one overarching program. It unites every area of a business and can lead to increased levels of process innovation and efficiency.
2. Data-driven insights
Another benefit that every business can enjoy is data-driven insights. What can be more beneficial for a business than really knowing your customer and their needs? Using structured data such as personal customer information and unstructured data such as social media metrics, you can influence the growth of a business significantly. When you know your client, you know exactly how they benefit from your product or service, therefore igniting growth in your business.
3. Increased profits
80% of organisations with completed digital transformation have experienced increased profits and on average, leaders expect 23% higher revenue growth than competitors. The reason is that digital transformation improves efficiency and profitability. It gives you and your team the freedom to focus your time on tasks that generate income while trusting in technology to take care of the rest.
4. Improved productivity
Having the right tech tools integrated into your operation can streamline workflow and improve productivity. Automating manual tasks and integrating data throughout an entire organisation empowers a team to work more efficiently.
5. Improved customer experience
Customer service can improve significantly. In our era, customers place high importance on simplicity. Offering digital tools to your customers will make their lives easier and their interaction with your company easier. Therefore, you have a higher chance of securing a customer that will bring lifetime value to your business.
The main point to remember is that digital transformation is not going anywhere. It is here to stay and the sooner you embrace it, the sooner you will grow, develop and outgrow your competitors.
The year 2020 has been incredible proof of the efficiency and effectiveness of digital transformation. When offline industries were forced to close their doors, online businesses thrived like never before! Demand for online consultations, shopping, booking systems and learning resources are now at an all-time high because they are convenient, quick and easy to access and use. Their operation and success also isn’t influenced by external factors, such as a pandemic.
At YMTech, we want you to be the first business in your field to experience the power of digital transformation. We are extremely passionate and highly skilled in this arena. We know how it’s done!
Whether your business needs assistance in IT training, consultation or implementation of cloud technologies, YMTech is fully equipped to help! With more than 10 years’ experience and very strong partner relationships with leading IT services, we are here to prove that you can be more productive, earn more money and grow your business by transforming your structure and processes within your team.
As technical and advanced as it may sound, our unique and highly effective approach makes this process as smooth as possible!
Contact us today to get started!
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