A recent Gartner CIO survey found that 67 percent of organizations that began a technology strategy designed to transform the businesses have abandoned the strategy because of organizational chaos. The completion of digital transformation strategies, however, is critical to keeping a business competitive. Radical integration of evolving digital technology across departments can enable businesses to solve problems more easily and deliver more value to customers.
A fundamental business problem is how to give quality service or make quality products profitably. Technology, especially automation, can help solve this problem by saving time and money. Routine tasks can be automated, allowing workers to spend time on tasks that require human intelligence. This also often improves the accuracy of data entry. In factory or warehouse situations, robots can often do the work of three people and do not require as much heat or cooling as humans do. Robots also can be used for more dangerous tasks, keeping workers safe and preventing lost work time due to injury. Automation also can decrease cycle time and cost per piece.
Cost savings also can be gained through automation of administrative functions, such as accounting and employee training. Savings are also gained through the shrinking of your company’s environmental footprint because automation uses less scrap and energy.
Businesses that use evolving technologies innovate more quickly. This enables businesses to bring products or solutions to market more quickly, which is key to gaining market share and increased revenue. Sixty-eight percent of businesses list increased agility as one of the top three reasons they undertake digital transformation.
Companies can often solve talent shortage problems by recruiting throughout a wider geographic area and by being open to employees working from home. New technology makes this a more attractive business option. It allows field employees to access the environment just as if they were in the office. It also can prioritize daily tasks, saving time, and ensuring that remote employees work in line with corporate priorities. Secure data access, such as virtual private networks, “read” time stamps and locked PDFs, alleviate many previously-held security concerns.
Technology can add value by improving customer relationships and service. Data analytics software can analyze customer interests and help suggest new products or services custom-tailored for each customer. It also can help businesses more effectively target their marketing, which saves money and adds value to each marketing dollar spent. New technology also can automate followup emails and personalize and track every message, as well as store and communicate customer contact and preference information across the entire sales team. It can increase the likelihood of closing a sale.
Technology also can provide more opportunities for the customer to interact with the business. This means the customers can interact whenever and through whatever medium they choose. This results in happier customers and potentially more sales.
Companies that are among the 33 percent of companies that complete their digital projects undertake many of the following actions:
Companies that integrate evolving technologies can save money, improve their talent pool, become more agile, and increase sales and customer satisfaction.