How To Win This Digital Transformation Race
Why do you Need to Stay on Top of the Game?
Every day we hear from clients: “Our priority is the digital transformation of our business” Why do you need to implement digital transformation in your business? The answer is simple: Digital technologies help deliver more value to customers, giving a competitive edge.
What drives companies to embrace technological change? Mainly, it is the fear of missing out on opportunities to grow or being surpassed by competitors. In this post you’ll learn:
- An overview of digital transformation
- Components of a successful digital transformation process
- 4 Tips to start the digital transformation process in your company
- Use Cases and Examples
What Is Digital Transformation?
The term digital transformation refers to integrating digital technology into all areas of business. Transforming processes through technology aims to change how the company delivers value to customers. It also means a cultural change for the organisation, implying leaving set business processes in favour of more effective practices.
Because every company is different, the digital transformation process is not one-size-fits-all. Digital transformation can involve business processes, business models, domain, and organisational transformation.
Some companies focus only on the transformation of processes. These risks their failure because of incomplete transformation processes. Also, addressing the digital transformation in all aspects means involving management and staff from all the organisation’s areas. Here are the four types of digital transformation:
There are a lot of technologies geared to transforming business processes. Data analytics, APIs, Artificial Intelligence, Machine Learning, help organisations automate and streamline processes. Incorporating technology helps your company automate repetitive tasks, lower costs, and increases the value you give to your customers. Process transformation spans across departments. For instance, accounting and legal processes automation, or automating sales and marketing funnels. We see companies implementing business process automation and robotic process automation in the Australian market with success, as we explain in our blog.
That implies transforming the fundamental blocks of the distribution of value in the industry. Disruptive technologies tend to transform business models. Examples of this type of transformation are how Netflix reinvented video distribution or Uber reinvented the taxi industry. Other industries, for instance, the customer support industry and insurance are using technology to reinvent customer service.
This area, albeit not so popular, offers a great opportunity to launch value. An example of this is Amazon Web Services. Amazon expanded from retail to cloud computing services. They achieved leadership in the field through the combination of strong digital capabilities and a successful business model.
That involves redefining the organisational mindsets. An example is the adoption of agile workflows, decentralising decision-making and changing the way the organisation works. Shifting to a data-driven model, for instance, by adding digital technologies that collect and analyse data allows you to make better business decisions.
Digital Transformation in Australia
Although it started slow, now the digital transformation is gaining track for Australian companies. The Digital Transformation Office reports that 47% of the companies report competition as a key driver for digital development. Below are some examples of companies that incorporated technology to improve their services:
The company improved the online grocery shopping process and basket sales by tying analytics to product marketing. Data analytics helped the chain predict customer intent, enabling them to target promotions and new products. They revamped their online sales process through process automation, increasing sales, and serving customers better.
The land developer developed an app to allow prospective buyers to see potential communities in Virtual Reality. That enhances the customer experience, as buyers can experience the features of the future community, including parks, waterways and sports precincts.
Spotify partnered with AAMI to deliver alerts of driving hazards during the Labour Day Long Weekend. The insurer improved its customer service by adding a public safety app. Thus driving customer interaction and brand recognition.
4 Tips to Start Digital Transformation in Your Company
Once you decided to incorporate digital processes in your company, where should you start? Having a technology partner that can evaluate and guide you around. In their report, “Digital Transformation: Your First 100 Days”, Forrester brings tips to start a digital transformation process in 100 days. Here are some highlights:
1. Get C-level management onboard
You need management to buy-in on the transformation project for it to be successful. Most digital transformation processes bring on consulting staff to help to implement the changes. Without the support of a CEO or CIO, it will be difficult to make improvements.
2. Use short-term milestones to reap small wins
You want to avoid the dreaded “Well, this is not working” from middle and higher management in your organisation. To build momentum, show results early. You can achieve this by building Minimum Viable Products, testing the success of the project in the early stages.
3. Drive collaboration with technology teams
Have your systems working in a way that is easy for any staff member to collaborate with technology teams. For this, it is important to avoid treating the digital transformation as a tech project. Instead, involve the entire organisation, train staff on the new infrastructure early on.
4. Hire people that can help you get there
Digital transformation requires hiring the right people. That goes beyond hiring for your IT staff. We see it every other day with clients that come to us after having failures from the wrong stuff or consultants.
The right IT consulting company is the one that works with you in a partnership to achieve your business goals through technology.
How Ample Tech partners with Your Company to Achieve Digital Transformation
At Ample Tech Australia, we help companies to achieve growth through digital transformation in the following sectors:
- Ecommerce and retail
- Banking and financial organisation
- Supply chain
- Hospitality management
- Health care
We specialise in the following digital transformation services:
- Concept formation
- App development and design
- Requirements gathering and analysis
- UX/UI design and development
Drive growth through innovation with Ample Tech Digital Transformation
Ample Tech Founder and CEO