Having a presence on digital media like web and mobile has become a need of the hour for all the business. Many Organizations, big or small are engaged in Digital transformations. To reach the prospective customers and to meet their increasing expectations, organizations are fast accepting the changes and are shifting form the traditional analogue to digital model of business. Digital transformation in common man’s terms involves integrating digital technology into almost all the areas of business processes, activities, data storage, virtual reality and models, which in turn results in delivering value to the customers.
Why should companies think of Digital Transformation?
- Transform or perish, digital transformation has now become the only way of survival for many organizations.
- According to research reports by Forrester, in the near future, half of the revenue of the Companies would be driven through digital portals
- To gain competitive edge over counterparts,
- To increase profitability of businesses
- To meet customer’s expectations and increase customers experience with the organization.
- Businesses need to evolve and adopt the changes with a rapid pace
What is Digital transformation?
Digital transformation strategies revolve around development of people agility, people orientation, customer-centric approach, streamlining business processes, increase efficiency and effectivity of processes, leverage opportunities for business growth. Changing consumer demand, changing technology and changing competition are the three key drivers of transformation.
Digital Transformation involves technological evolutions and innovations ranging from cloud computing, Big data, analytics, artificial intelligence, and internet of things. Inclusion of these IT based technologies like Internet of Things, Big Data, could – based technologies, machine learning and many more to add value to businesses in the form of economies in cost, time, effort and delivery.
Industries effected by Digital Transformation
Digital Transformation is not effective in various industries and sectors including Retail, Manufacturing, Government, Public Sector, Banking, Insurance, Healthcare, Supply chain & Logistics, Business process outsourcing (BPO), to name a few.
Digital transformation involves transforming Business activities, processes, models, asset management, culture and approaches towards stakeholders. entire process of digital transformation is very challenging and sensitive for the Companies, as it involves a plethora of activities and a focus on multiple processes. We, at Crafsol, work closely with our clients and craft end to end digital transformation strategies for our clients. We consult them and craft a tailor made digital initiatives for our clients to ensure success, growth and profitability of the businesses.