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The Digital Opportunity: Is Your Business Taking It?

Virtually every business today relies on some form of digital technology to serve their customers, in their efforts to provide as much value as possible, as efficiently as possible. Tech plays a big role in how profitable, scalable, efficient, competitive and resilient a business is. Another thing is also true; every business has a gap between what technology is doing for them to achieve their goals, and what it could do for them.  

This blog offers food for thought about the fruitful role that digital transformation can play for businesses, including ones like yours! A business may be ‘digital’ in the sense that it operates computers, software, and uses the internet to get things done, but there are also more layers of efficiency, integrability, scalability and efficiency that businesses can tap into with technology.  

We will introduce the digital opportunity that your business can access, why it can be a game-changer, and give you examples of how a business can bring the benefits that it offers into fruition. In our next piece, we give practical guidance for getting started with digital transformation.  

What Is Digital Transformation?  

We can understand this oft used and perhaps vague term by referring to its goals. Digital transformation has the aim of making a business more integrated, efficient, agile and customer centric. Technology is used to bring business processes and tools together into a wider whole, one that is more than the sum of its parts.  

Digital transformation does not have to mean diving into building elaborate unified data analytics platforms. It can also look like automating business processes, using a bookkeeping software that integrates with your banking provider, or adopting integrated workplace solutions such as Microsoft 365 that bring together different functions and capabilities, like meeting scheduling, document editing, and workflow management. 

What can Digital Transformation Do for my Business?  

Digital transformation enables businesses to become more competitive and deliver more value using less time and resources. In other words, it unlocks opportunities for profitable and scalable growth.  

Here are the benefits and capabilities that digital transformation can bring to your business:  

  • Efficiency: Technology can magnify the efficiency of your business. For example, by automating tasks and workflows, as well as integrating them together more seamlessly, it takes less time and resources to complete them.  
  • More value: Digital transformation can enrich the delivery of value to clients and customers in a range of ways; perhaps time-savings from more efficient technology can go to nurturing customer relationships, another example is implementing a new software that unlocks new capabilities that improve your end-product for customers.  
  • Scalability: The more integrated, flexible and automated your technology is, the easier it becomes to scale it alongside the growth of your business.  
  • More opportunities: New technology unlocks opportunities to create new products, commerce channels and business models. For example, a traditional retail store can embrace e-commerce platforms, which in turn, can connect with other digital solutions such as CRM (Customer Relationship Management) and accounting software.  
  • Greater agility and resilience: Technology is enabling greater flexibility for businesses. For example, a business using Microsoft 365 or Google Workspace will be able to operate remotely, while a business using a cloud hosting provider will be able to side-step the risks, inflexibilities and costs of keeping their hosting in the office with on-premises servers.  
  • Cost-Efficiency: Many of today’s leading digital technologies such as virtualisation, VoIP, and cloud-hosted software require much less upfront investments, have flexible subscription-based pricing, and in the case of cloud-hosting, deliver flexible, scalable resources via ‘pay-per-use’ pricing models. 

Examples of Digital Transformation 

We like to see digital transformation as an accessible and achievable part of running a business, it is one that is becoming increasingly essential today. Here are some examples that can give inspiration to your business:  

Using Cloud-Based Software 

Cloud-based software can be used via a device with an internet connection. Because the software connects to data stored in real-time, it unlocks new opportunities such as live document editing and collaboration. Cloud-based software is a lot more integrable together; using APIs (Application Programming Interfaces) you can connect workflows that span different departments, such as marketing, sales, operations, customer service and finance. Cloud-based software can expand seamlessly with your business and allows you to add new users at the click of a button.  

As a result, it becomes much easier to complete workflows and collaborate, find and use data from different sources, and to grow and integrate your business together.  

Business Process Automation (BPA) 

As the name suggests, this involves using technology to automate tasks. Tools for business process automation include specialised software, as well as in-built tools on platforms such as Microsoft 365, such as Power Automate. 

Applying BPA magnifies efficiency and frees up time for your team to do more creative and valuable tasks that require human input. Both the speed and accuracy of BPA, as well as this freed time can enrich the delivery of value to customers, by improving the efficiency and quality of service elements that are integral to the customer experience. 

BPA can look like automating invoice processing and client onboarding processes, or areas such as customer service, using chatbots that can answer common questions. In the next piece, we will delve into how to get started with BPA.  

Migrating Hosting to the Cloud 

A business can migrate its on-premises hosting of its data and services to a secure and flexible cloud hosting solution in a data centre. By doing this, a business can pay for exactly what it uses, scale its hosting in real time with its computing needs, and save money on the maintenance it would otherwise pay for on-premises servers.   

Final Thoughts 

Digital transformation is an opportunity for businesses to sharpen their competitive edge in today’s technology-driven world. By continuing to evolve the digital technology that your business uses, you can magnify efficiency, improve productivity, deliver more value, and expend less time and fewer resources. In our next piece, we delve into the practicalities of getting started with implementing digital transformation initiatives in your business. Stay tuned to find out how to access these benefits!  

Netplatforms: Transforming Businesses with Technology 

Is your IT not delivering the best for your business? Struggling to find and implement technology that empowers your business’s success and growth? Netplatforms can help. We’re IT support providers that go beyond expectations. We not only help businesses to create efficient, reliable and secure IT environments with our expertise and proactive support, we also help them to access new tools and technologies that help them to achieve market success. Want to see what transformative IT support can do for your business? Get in touch today! We’ll be glad to hear from you, listen to your challenges, and provide actionable insights and guidance for your business.