It’s a term you’ve probably heard a lot over the last couple of years.
In fact, according to reports, 85% of enterprise decision makers think that if they don’t make significant progress in their digital transformation strategies in the next 2 years, they’ll fall behind the competition.
Of course, before you can begin implementing digital transformation into your organisation, you need to know what the term “DX” actually stands for.
At Nice Network, we help a lot of customers with different types of digital transformation. That means assisting people in their move to a mobile network, helping them discover the benefits of IoT and more. We’re going to give you your basic introduction to the fundamentals of DX.
What is Digital Transformation?
According to a 2018 report, more than 44% of companies have already started implementing a digital-first approach to their processes and operations.
Essentially, that’s what digital transformation is all about.
The more you learn about digital transformation, the more you discover that it’s just switching old-fashioned and redundant strategies out for newer, more efficient ones. For instance, if you previously used a PSTN for your communications, you might discover that switching to VoIP telecoms helps you to communicate globally without spending as much money.
As simple as it sounds, digital transformation strategies can even start with something as easy as replacing your paper file storage system to a cloud data management strategy.
With digital transformation, you think about your current business processes, in the context of the current digital environment. You discover what kind of tech you can use to make your business more efficient and productive than ever.
Digital Transformation Examples: Embarking on a DX Journey
One of the things that makes it so challenging to define digital transformation is that a DX journey can be different for everyone. If you’re a small business that’s just getting started, you can go digital from day one, setting up connectivity solutions and cloud-based software that reduces your reliance on hardware and traditional legacy equipment.
On the other hand, if you’re a large enterprise that’s been in business for several years, then you’re probably going to need a more advanced transformation strategy.
To give you an example, it wasn’t so long ago that most companies were keeping their records on paper. Whether typed into documents, or in ledgers, business data was a mostly analog concept. If you wanted to share that information, you had to fax or share physical documents.
Eventually, as computing became more mainstream, we discovered that it was much easier to keep and share digital files- particularly with the benefits of the internet to consider. Sharing and finding information became much easier. As time went on, we discovered newer and more exciting ways to deal with that data.
For instance, now we can store vast amounts of information on the cloud. We can even gather information from various sources to inform machine learning and AI resources. The opportunities are endless.
What’s So Good About Digital Transformation?
For some companies, particularly those with legacy backgrounds, digital transformation can be a daunting concept. Bigger brands don’t want to have to worry about switching their business essentials with something new and different. However, the truth is that digital transformation strategies are all about giving your company access to more benefits.
By replacing legacy strategies with digital ideas, we can make typical ways of working more efficient and simpler. Think about how much easier it is to manage your data today than it was in the age of paper filing. Consider customer service, where digitization has made it easier for businesses to access customer records easily and offer more contextual experiences.
As digital technology has continued to evolve, people began to generate new ideas for using that tech in exciting and immersive ways. Today, we have collaborative tools that allow people to connect and work from mobile locations around the world. IoT sensors mean that your machines can connect at a distance and gather useful data for your company.
Digital Transformation and Adding Business Value
Digital transformation is changing the way that business gets done on an astronomical level and creating entirely new classes of companies in the process. Through digital transformation strategies, companies can revisit and reevaluate everything they do.
When you can access all of the data that you need about your customers and market on the cloud, you can make better, more informed business decisions. When you’re able to communicate with your customers in a range of different channels, all around the world, you can enhance customer service.
With IoT, you can even track your services and processes, and make sure that your machinery is always working as it should be.
Is it time to invest in your own digital transformation? Contact Nice Network today to take your first steps into the future.