The emergence of new technology and re-engineered processes has created a ripple effect that is changing where and how we work. With disruptors continuing to introduce new products and services, and new industries appearing seemingly overnight, there is a burgeoning sense of urgency for organisations to transform or else, risk losing their competitive advantage.
There are many factors contributing to the need for digital transformation within an organisation, with varying results and benefits. Hamilton Forth’s Angela McCann considers three key drivers of digital transformation.
Given the pace of change brought about by digital advances, organisations must succeed at digital transformation in order to survive.
Digital transformation not only improves outdated and inefficient processes, but also boosts innovation by creating opportunities for product and service offerings that were not available before. Big data, AI, and automation are all examples of digital tools that help companies understand their industry, customers, and competitors better than ever before.
However, to successfully use these tools successful digital transformation is a must. This starts with building a culture in which people use digital tools to make better decisions and work more productively. When employees shift their attitudes and behaviours in support of digital transformation, they are more likely to use digital tools in an optimal way, thus helping the company achieve a better return on their investment in new technology.
Today’s customers have come to expect 24/7 availability and personalised experiences that empower them to make the best purchase decisions. By enabling the effective use of digital technology through digital transformation, it possible to understand and improve the customer experience.
Once everyone in the organisation understands their role in improving the customer experience, and are given the digital tools required, they will be more likely to leverage these tools to offer the personalised experience the customer expects.
Talent Attraction and Retention
Digital transformation is a requirement for organisations that want to attract and retain the best talent. To be successful, organisations must provide development opportunities through training and coaching that help employees adopt a digital mindset and improve their digital skills. Research suggests that employees are already eager to increase their digital knowledge. When individuals possess the necessary skills to help them succeed in the digital world, they’re better equipped to give their best effort and achieve results.
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