An increasing number of businesses decide to undergo digital transformation. The use of artificial intelligence, and machine learning allow companies to automate non-routine tasks, increase their operational efficiency, and use data analytics to make more accurate business decisions, so the juice is certainly worth the squeeze. What are the drivers of digital transformation? Read our article to learn more!
Digital transformation – what is it?
Digital transformation is the process of using digital technologies to create new or improved business processes, products, and services. This can involve anything from automating manual tasks to developing new ways of interacting with customers.
The goal is usually to improve efficiency, effectiveness, and competitiveness of companies.
Why is it worth investing in digital transformation?
There are many reasons why it’s worth taking into account drivers of digital transformation, and investing in it:
- Improved customer experience – one of the key benefits of digital transformation is the ability to provide your customers with a better overall experience. By digitizing processes and customer interactions, you can provide more personalized, efficient, and convenient service.
- Increased efficiency and productivity – key drivers of digital transformation can also help your business become more efficient and productive. By automating processes and eliminating paper-based workflows, you can free up your employees to focus on more value-added tasks.
- Improved decision-making – with access to real-time data and analytics, you can make better-informed decisions about your business. This can help you optimize your processes, and make accurate strategic decisions.
- Greater competitive advantage – drivers of digital transformation can give you a competitive edge over your rivals. By being early adopters of new technologies, you can gain a first-mover advantage and be ahead of the curve.
5 key drivers of digital transformation
Are you wondering what the drivers of digital transformation are? The list includes:
- Customer expectations – in today’s digital world, customers expect companies to provide personalized, convenient, and consistent experience across all channels.
- Employee expectations – in the new normal era, specialists want to be able to work remotely, and quickly access necessary information.
- Competitive pressure – companies that want to stay in the business have to keep up with the competition and differentiate themselves in the marketplace. Investing in digital transformation gives them a chance to gain a competitive advantage over the market rivals.
- New business models – digital technologies give businesses a chance to enter new markets, and implement solutions at a comparably low expense.
- Economic pressure – organizations that want to reduce operational costs and increase efficiency should definitely consider investing in digital transformation.
The Takeaway
Digital transformation is the process of using digital technologies to automate and digitize business operations, capabilities, or models. It can be applied to improve customer experience, create new revenue streams, and optimize internal processes.
The ongoing changes in technology, business models, and customer behavior are only some key drivers of digital transformation. Companies that want to boost their agility, efficiency, and competitiveness should certainly consider implementing modern tools in their daily work.
Are you wondering what the connection is between digital transformation and customer experience? Check out our entry!
