In the post-pandemic world, digital transformation has become more relevant than ever. Shifting global attitudes and a widespread transition to remote working have meant companies need to leverage new technology to adapt to the fluidity of the modern business world and the modern workforce. For many companies undergoing a digital transformation, business process outsourcing (BPO) providers can help drive additional success.
Digital transformation is the process of integrating digital technologies into various areas of a business to modernize, optimize, and streamline key business processes. This can alter the way a business operates and delivers value to customers. The digital transformation journey can often include major shifts in culture, processes, and technology.
Digital technologies have emerged as the most fundamental tools for the survival of businesses in the fiercely-competitive modern marketplace. Implementation of modern technologies helps achieve the most desirable business objectives. However, the adoption of innovations to facilitate digital transformation also brings cybersecurity challenges too.
What does a movie about baseball have to do with digital transformation strategy? If you’ve ever seen the film, Money Ball, it’s the story of Billy Beane, the general manager of the Oakland A‘s baseball team, who’s charged with a Herculean task—building a winning baseball team on a shoestring budget. But since he’s pretty good at math, he pioneers the field of sabermetrics—the empirical analysis of baseball stats to find players with untapped potential.
The term ’digital transformation‘ is a lot like love. It means different things depending on who you ask. IBM, a long-standing technology leader, offers this mouthful: “us AI, automation, hybrid cloud and other digital technologies to leverage data and drive intelligent workflows, faster and smarter decision-making, and real-time response to market disruptions.” Still kind of nebulous, huh?
The ways in which most businesses now operate and interact with customers is drastically different from what they were a few years ago. For example, customers can research their options, learn about other brands, and make purchases all from the comfort of their own homes. And though this has meant a lot of change and adjustment for businesses, many of those changes have been for the better. This is because digital transformation and customer experience influence each other.
More and more, organizations are shifting towards the digital workplace, embracing all the advantages that a full digital transformation affords. Customers are also moving away from traditional brick-and-mortar businesses, expecting online interfaces for interacting with companies. It's become abundantly clear that a digital transformation is not just about gaining a competitive edge, but about survival.
Regardless of the type of business you're talking about, organizations invest in digital transformation for a myriad of different reasons. Some turn to the power of modern technology to improve efficiency - empowering employees to communicate from department to department easier than ever before. Others want to guarantee that data can flow freely across the enterprise, making sure that the critical information that people need to do their jobs is always in the right hands.
Deploying new technology can improve productivity and dramatically reduce waste, but may introduce hidden costs as well.
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