Many businesses view digital transformation as a painstaking task best left up to other companies; however, once they understand the many benefits it provides, they will quickly see just how empowering it really is.
In fact, reports show that businesses with digital transformation in place can experience an increase of over $600 million in revenue over the next few years just from investing in modern technology.
Otherwise, it could be costing your business money. In fact, other reports show that Covid-19 alone caused businesses without digital transformation in place to spend years worth of profits in just a few months to make the adoption due to the number of people forced to stay home.
Why It’s Important
Research already showed that digital technology was fast becoming a growing trend due to increased customer expectations. However, the year 2020 really brought home the need for businesses to embrace digital technology for the benefits it offers their operations, as well.
In fact, with the number of remote workers now, businesses are witnessing firsthand the need for various technological advancements, including interactive elements, video, and more.
Meanwhile, as more customers are turning to online and on-demand shopping to meet their needs, businesses are also understanding they require more flexible technology to be able to provide customers with a variety of purchasing options.
But for the many businesses that already grasped the idea of digital technology and made the transformation before it was needed, these times are not as shocking to their operations or budget as they already had the technology in place to meet various marketplace demands, thus saving time and costs on having to make the transformation all at once, so all they have to do is sit back and enjoy their ROI.
Therefore, if these times have taught us anything, it’s the importance of adapting to new IT trends to stay ahead of the curve. And it can be done in stages simply by replacing just one legacy element at a time until your operation is modern.
How Will Digital Technology Continue to Change in 2021
- Virtual Activities
Many businesses are expected to shift their content and events to digital platforms for the cost savings and to also recoup some of the losses they incurred from the sudden drop in their gatherings and events attendance as a result of social distancing.
- Cloud Activity
Research also anticipates that businesses will continue to turn to the cloud for easy, secure file sharing. This way, users can access the files from anywhere, including remote workers, and they can also edit documents for trouble-free collaboration.
- Virtual Reality
Experts also predict an increase in virtual reality and augmented reality use by businesses as a way to create a more personalized experience for customers and to also enable them to provide superior customer service over other businesses during these times.
- Predictive Analytics and Scenario Planning
For companies to stay on top of digital trends, they must be able to anticipate future changes in the market and then determine the best decisions for how they will react to them. Therefore, analysts also expect an increase in businesses using predictive analysis for anticipating future trends that will enable them to be disruptive.
Predictive technology provides businesses with various analytics that enable them to determine their particular needs for enhancing the customer experience.
Some businesses are also investing in scenario planning software to play out various instances, which they then use to help prepare for uncertainties.
In the end, digital transformation is necessary, and it can easily be done with digital transformation services.