10 benefits of digital transformation for your business
When you are faced with daily pressures, it can be all too tempting to put digitalization on the back burner. The consequences of putting off until tomorrow will create an inertia that you may come to regret. Find out more about the benefits of integrating digital technology into all areas of your business, and why you should do it now.
What is digital transformation and why is it important?
More than just a 21st-century buzzword, digital transformation is a far-reaching global process with real-life effects on individual businesses and the market in general. It refers to the ways organizations integrate digital technology into all their segments, processes and activities, often changing the essence of how they operate and how they connect with customers.
Digitalization has been critical to the continued success of so many businesses, with countless examples of digital transformations demonstrating immediate increases in efficiency, productivity, ROI and competitive advantage. But despite all these clear benefits of digital transformation, there are still businesses that have yet to commit — possibly because they are fearful of the unknown or have started and stopped mid-way, therefore not reaping the full benefits.
And in a world where competition only gets stronger and stronger, staying still comes at too high a price. The more static you are, the further you fall behind and the harder it becomes to catch up with your market rivals when you are eventually forced to try. This is especially the case if they did the opposite and embraced digital transformation opportunities as soon as they were able to.
Here is a list of impressive benefits to illustrate why digital transformation is so important, and remind you why you definitely should not put it on the back burner.
10 Benefits of Digital Transformation
1. Safer data lifecycle management
Collecting data is often presented as the end goal, when it is in fact the opposite — a means to extract meaningful information from that data to help shape your future decisions, reach more clients, increase efficiency and maximize profits.
And with increased sensitivity to data privacy, any business that collects customer information needs to rethink how it stores, analyzes, and shares that data. When you are developing or rethinking your tech stack, make sure that sensitive data is properly protected with modern encryption, particularly in SaaS platforms.
2. Optimized resource management
Digital transformation has enabled companies to succeed in developing modern IT architectures that consolidate all resources into one integrated, optimized toolkit. By using end-to-end digital business technologies, organizations can eliminate unnecessary apps, tools, software and databases, thereby saving a significant amount of money.
This especially applies to ‘as-a-service’ platforms such as the Omnizon EDI iPaaS, which streamlines your business processes by securely integrating different applications and systems, while also giving you the flexibility for continuing with independent in-house development.
3. Data-driven customer insights
More often than not, poor business decisions are a result of insufficient knowledge or misconstrued insight into what the market (and your customer) needs. Learn from past experiences and eliminate the chances of failure by making strategic decisions based on real, data-driven insight. How? By using modern data optimization and business intelligence tools, which do an amazing job of translating heaps of raw data into valuable information that in turn enhances the knowledge base that can help take your business to the next level.
4. Enhanced customer experience
An ever-growing market means new competitors are constantly emerging, expanding the range of customer journeys offered to a potential client. In order to stay competitive, you need to tackle that challenge by continually enhancing your service according to the needs of the customer.
Thankfully, the ability to identify those needs and remain one step ahead is now possible with predictive forecasting and analytics, which help you plan the improvements necessary to achieve a smooth, intuitive customer experience.
5. Digital company culture
Modern software solutions can be utilized to improve talent acquisition, but also retention. By using technology to make a job more intuitive and efficient, you give employees the tools they need to provide a more valuable output in a de-stressed environment.
Digital tools greatly facilitate cooperation between team members, making it possible to collaborate on projects seamlessly, with fewer negative consequences arising from the challenges faced by timing delays or different staff locations. Finally, the more comprehensively you commit to the digital shift in your organization, the bigger the pull for employees to upskill and gain digital finesse.
6. Increased revenue
Self-reports from company executives worldwide show that increased profitability and market share follow directly from digitalization transformation. And no wonder, since one of the main benefits of digital platforms is the minimization of overall costs — by automating tasks, streamlining operations and improving resource management. That, combined with better time to market and faster innovation, is a sure way of increasing profits.
7. Increased agility
2020 brought great turmoil to businesses around the globe, and those who quickly managed to adapt to new circumstances were the ones that came out on top. Being agile and prepared for anything is one direct result of maximally exploiting digital business technologies — using them for faster innovation and improved speed-to-market.
8. Improved productivity
Adopting the latest technology to automate manual tasks and streamline workflow has a direct effect on productivity. A system designed to help people work smarter and not harder, enables your team to leave tiresome, manual but necessary activities to our system and allow them to focus fully on the work that really drives your business.
9. Greater innovation
Innovation is a sure-fire way of staying relevant and ahead of competitors, and one of the biggest benefits of digital transformation is that it creates new and exciting possibilities for developing products and services. You might associate innovation with startups, but this also applies to legacy brands and market leaders — there are always ways to innovate or identify new revenue streams.
10. Increased Transparency
Digital platforms enable businesses to have a single source of truth with easy, yet secure access, which is vital in providing transparency across teams and functions. This keeps everyone in the loop and allows better, faster decision-making.
How Omnizon powers Digital Transformation
These amazing benefits of digital transformation are the reason why successful companies decide to dedicate time and resources to digitize their operations. However, you need an experienced and reliable partner to help you make the digital switch quickly and efficiently, which is exactly what Omnizon does for all its customers.
Our range of services are focused on integrating processes, applications and data, helping you streamline workflows, replace traditional paperwork, save money and boost productivity.
We have two structured, all-encompassing solutions: Omnizon Extended EDI Managed Services and the Omnizon iPaaS EDI platform. Both bring significant value to your business and your team, but cater to different needs:
a) Extended EDI managed services
Extended EDI managed services build on conventional electronic data interchange to provide a completely seamless, digitized workflow. They provide 100% EDI integration, even for customers without EDI technologies, which accelerates business operations and improves efficiency. They eliminate human error and speed up your data processing without having to invest significant time and resources — because once you are set up, you leave the management of these services to us.
b) Integration Platform as a Service (iPaaS)
However, if you have an in-house systems management function and want a flexible option that leaves you with more ‘hands-on’ control, iPaaS is the choice for you. It enables you to securely integrate all the applications and systems that you are using, eliminating the need to manually synchronize and update data stored on different platforms.
Both solutions help you optimize your business performance, automate day-to-day operations and save money and time, which should be the end goal (and result) of a true digital transformation process.
If you are not sure which solution is right for you, let us talk you through it to help you decide what is best for your business.
Let’s take on this process together, contact us and start your digital transformation journey today.
Let’s work together
Together we’ll figure out which services can best boost your business.
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