Digital Transformation is a Business Imperative - Why?

Digital transformation is the latest buzzword in the corporate world. But it’s much more than just a trend. Though it’s open to various interpretations, it can be defined as the transformation in business activities brought about by the implementation of digital technologies. In short, it’s redefining the way business is done in a digital age. Here’s why it has become imperative for companies to embrace it.

1. Remain relevant in these changing times

Businesses must evolve with time to remain relevant. The changes introduced by digital technology are very extensive, and companies have to adapt to them to stay in the competition. Particularly in today’s world where new tech-savvy competitors disrupt the industry every few years, enterprises have to learn how to merge digital technology with their business strategy to survive.

2. To Become more profitable

Digital tools like big data and analytics, cloud computing, and social media are transforming the way businesses are run. Organisations that have embraced digital transformation have seen better profits than their competitors. According to the MIT Center for Digital Business, companies that have implemented digital transformation are 26 percent more profitable than their counterparts in the industry.

3. Make business more efficient

Every company wants its employees to work faster and smarter. Digital tools can help them do that. They can create a more streamlined work environment that will boost collaboration, communication, and productivity. Moreover, by removing manual processes with digital technology, businesses can make their processes highly efficient.

4. Deliver better customer support

From shopping online to making digital payments, customers have adopted digital practices. To reach out to them, companies have to undergo digital transformation too. Using the digital channels and tools preferred by customers to engage with them can go a long way in boosting consumer satisfaction and loyalty. Many companies have already started using digital technology to handle customer service and are delivering efficient support, much to their customers’ delight.

Digital transformation is not a choice, but a priority for companies in today’s business world. However, it’s important to note that there is no one-size-fits-all model. Different organisations need different kinds of strategies. 3i Infotech can help you create your company’s digital transformation plan to make your business grow.