Stay competitive and move your business forward with digital transformation.
IT can transform your business. When you use technology to improve your business, you can serve your customers better, grow your business, increase your profits and stay competitive. Digital transformation is not just fixing small, nagging IT problems. It is using IT to make significant changes to build a long term solution.
Digital transformation can range from simple IT done well to complete technology innovation. There are four main types of digital transformation you could consider for elevating your business.
A Market Breakthrough is offering a new specialist service to the market. For example, cutting through a supply chain or replacing or combining a product. As a result, this will place your business in a new intermediary and above your competitors.
Impress your customers by offering your product to your current customers in a new way. If you deliver your products to your customers at the time and place they want, it sets you apart from your competitors. Furthermore, if you focus on offering a service instead of the price, you’re more likely to stay competitive.
Internally redesign your business processes. New technology allows you to rethink and redesign your business processes to suit your customers better, your team and your profit objectives. For example, AI or automation allows your manual tasks to become automatic. As a result, this will help increase efficiency and help your business stay competitive.
Tame the risk that comes with traditional IT. The new technology provides you with better customer insights, better targeting, real-time risk assessment and automated control. Conversely, a lack of these creates a risk of time and money loss, leading to falling behind your competitors.
Questions to think about
- What does your market need?
- What do your customers care about and value?
- If you started with a blank sheet, how would you do things differently?
- What barriers can you lift to aid transformation?
- Imagine your competitor making this change first; what would you do if they left you behind?