How do you make your company embrace the digital age? Nowadays, such is a key component of success in business. Below, we’ll give you some tips on doing so.
What drives business success, nowadays? Is it the ability to innovate constantly? Is it flexibility, to adapt to a fast-paced environment? The answer, as usual, is not clear. Successful entrepreneurship is a mix of different factors. Yet, some components are critical for every business today. Amongst these, being digitally fit stands prominently.
Transforming a company digitally can pay off seriously. According to Deloitte, half of digitally apt companies have higher net profit margins than the industry average. It is not clear how this revenue is produced. It might stem from communication efficiency, or relying on less human resources. Either way, it’s clearly there. Knowing that digital transitions are accelerating, this importance will only grow.
Having a company embrace the digital age brings several benefits. The first is perhaps a bigger online presence. This radically increases company visibility (social media, online stores, etc…), directly impacting its sales. Improving decision-making is the second. Developing a digital presence is, usually, associated to data management. As it’s known, data is information. Of course, this makes it easier to predict outcomes of decisions. It can shed light on customer behavior, or employee efficiency. The third is improved teamwork, and communication.
What should companies do, to start a digital transformation? Three things seem useful. The first is having a digital leader. Transformations, in any company, rely strongly on leaders. Without such support they stall, and people forget about it.
The second is having in mind employee experience. It is essential that workers love, and know how to use technology. Indeed, they will be experiencing the transformation first-hand. If they don’t support it, changes won’t be adopted. The third is business culture. It is critical that a digital culture is promoted, and cherished.
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