Digital transformation for your company – three golden rules
Businesses undertaking digitalization projects in order to improve business procedures often spend all of their energy thinking about cloud infrastructure. However, digitalization is an extensive change and the cloud is only one part of it. To maintain visibility during this complicated process, businesses should follow these three golden rules when undertaking digital transformation.
Be aware of the challenges you will face
Digitalization is about more than adapting the cloud infrastructure or creating social media profiles – it is a constant process. For this process to be a smooth one, you must integrate innovative technology, but this tech is just a means to an end. Getting better, faster and smarter should be the goal, but this must be realized in all procedures for businesses to really see the full benefits of digitalization. This includes external factors such as customer communication as well as operative business processes or the daily work life of the employees.
Develop a strategy
Once you’re aware of the challenges, you must look closely at your business and analyse where the improvements need to be made. Which processes are already digitalized and which ones have potential for change? This analysis will be the foundation on which you build the plans for your individual departments and the rest of your business model. Another important consideration is the cost-benefit analysis. Not every technology will be beneficial for your business, so you need to be careful when choosing the right building blocks for your digitalization initiative. Often organizational costs are higher than acquiring the respective technology. For example, you could introduce a digital document management in order to speed up your administration processes.
Plan with your company’s future in mind
If you want your company to be successful over a long period of time, you should be up-to-date with digital trends in your market. However, these trends can sometimes be a double-edged sword. On the one hand these developments have the potential to improve your business model and therefor give you a competitive edge. On the other hand not every new digital trend will be beneficial for your products in particular. This makes it more important than ever to keep on top of these trends. By being aware of new innovations in the market, you are always prepared and ready to react to them, and decide whether they’re the right tools for you – ultimately allowing you to keep pace with your competitors.
This advice might seem easy in theory, but to be successfully implemented they need time, human resources and knowledge – which can be particularly difficult for small and medium-sized businesses, whose capacities are tighter than their larger competitors. However, if you want to stay in the race, you need to invest and embrace digitalization to maintain a competitive edge.