The Business Outcomes of Tech-Enabled Digital Transformation
By Karl Hilzinger, Digital Marketer at ProSolutions Integration
It has never been a better time for companies to embrace digital transformation. However, for businesses to survive the extreme economic conditions caused by COVID-19, and thrive after the pandemic has passed, they need to be flexible, imaginative and manage the innovation process well.
There is increasing pressure to adopt mature digital solutions that help drive competitiveness and meet the demands of a rapidly evolving digital economy. As a result of the increased use of technology within work, play, and staying connected, new digital habits have emerged. Yet, with many countries struggling to recover, this is the perfect time to reset, pivot, and think big to redefine your business operations and meet new digital expectations. This article explores the top business outcomes of a digital transformation strategy and the technology enabling it.
Let top business outcomes guide your digital transformation strategy:
Improving efficiency is one of the most important benefits of implementing a digital transformation strategy into your business operations. Streamlining your business processes can save your organization time, money, and resources. This is evident in how your employees communicate between departments, the continuous flow of data across the organization, and the seamless transition from phase to phase during the customer’s lifetime.
Businesses have the opportunity to become world-class through digital transformation while at the same time redefining what it means to be world-class. Several leading-edge technologies are presented for accelerating digital transformation, including process automation, cognitive automation, integration and intelligent data capture. By using these technologies, organizations can significantly improve efficiency and productivity.
Reduced operational costs
Operational cost reduction is one of the key drivers for digital transformation. In business, the goal is to maximize profit at the lowest possible cost, and the use of sustainable technologies can help you get there.
Automating mundane processes using digital tools is widely adopted by enterprises. However, for a business to survive, it constantly needs to focus on lowering operational costs; that’s when automation tools come into action. They simplify workloads and mundane tasks and increase productivity by bringing efficient process management into the workplace.
Digitization of documents allows for cost and time savings while enhancing the accuracy of data capture. In addition, digitizing documents makes it easier to automate processes.
Cloud hosting and migration as of 2022 is on the rise, with over 50% of corporate and public data stored in the cloud. This shows that companies are increasingly shifting their resources to cloud environments to provide businesses with the agility needed in today’s digital climate. In addition, cloud hosting centralizes the entire business from one touchpoint so that information is accessible to everyone saving time and money.
Business process optimization is increasing organizational efficiency by improving processes such as redundancies, streamlining workflows, improving communication and forecasting changes. Optimized processes ultimately lead to optimized business goals.
Maximizing revenue growth
Increasing revenue is easier when costs are minimized. And better financial performance is associated with greater digital maturity.
The key to driving a business forward is finding flaws in current business processes and recognizing opportunities. With transparent data across different aspects of the business, employees and management can identify patterns, evaluate trends, and capitalize on data-driven opportunities to improve their practices and drive revenue.
How ProSol enables digital transformation:
Utilizing the i-Con Integration Platform, ProSol provides automation of business processes and the integration of legacy systems to help you realize your digital transformation strategy.
Communication can be facilitated through i-Con’s centralized console. Documents can be created, notifications can be received, and communication between applications can take place. i-Con is exceptionally quick to implement since all the components required for integrating modern and legacy applications are already built. Through the use of a component-based architecture, we are able to provide a rapid and cost-effective way to implement fully integrated data systems.
Every aspect of the business is affected by digital transformation. Transformations that are more effective result in long-term profitability and sustainability for companies.
The digital, global, and hyper-connected world in which we live is characterized by constant change on a social and technological level. New players, off-site mobility, and continuous communications have a pivotal role to play. Modern technology has made it impossible to ignore digital transformation; it requires companies to push themselves outside of their comfort zones, reinvent themselves, and compete in the era of technology.
Enable digital transformation in your business with ProSol and the i-Con Integration Platform, where smart business becomes possible.