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All around the world, organizations have been in a continuous digital transformation. When the Coronavirus pandemic hit, businesses of all sizes went into survival mode. Processes were overhauled, paperwork stopped, and workers shifted to remote working. While the previous year was confusing, this year has been a year of implementation.
This year, companies have executed new processes, systems, and tools. Besides, it is very clear that businesses cannot go back to the way they were before the pandemic. However, places of work, tools, and customer expectations and behaviors have changed.
This said, digitizing your business will put you ahead of your competition. Besides, in the era of robot vacuums, supermarket delivery, autonomous cars, and e-signatures, it is high time you take your business to the 21st century.
What does digitizing a business mean?
In a world where technology has been given a lot of focus, the demand for businesses to digitize has increased tremendously. Therefore, what does digitizing a business mean? Typically, it means integrating technology into your organization’s operations and processes to enhance its efficiency and customer experiences, and increase sales.
This can be done by shifting to eCommerce, developing a mobile application for your business, or offering mobile payments methods, among more. The main goal of digitizing a business is to keep up with the fast-changing world economy by simplifying operations, cutting business costs, and giving your customers ways to access your business.
This said, the method you choose to digitize your business will greatly depend on your business type and needs.
Better ways to digitize your business
Research and plan
What do you need from the technology you want to incorporate into your business? You must answer this question before implementing the tools and software you want in your daily operations. Keep in mind that digitizing a business is supposed to help it grow and not hold it back. So, before making any changes to your business, take a step back and ask yourself how digitization and its process might prevent your company from participating in unproductive protocols and programs. Also, it is crucial to take your time; remember that digitizing your business should demonstrate its benefits, not the weaknesses.
Democratize Artificial Intelligence
Today, Machine Learning (ML) and Artificial Intelligence (AI) are the new impressions when it comes to office finance. However, many organizations find it difficult to implement and adequately scale ML and AI solutions to accomplish their business goals.
This is mainly because they are not democratizing them across their business. Artificial intelligence (AI) is not just a data science tool. So, to get the most value from it, you must make it accessible for all your workers in various lines of business with different experience levels.
Besides, the process of AI democratization has the ability to speed up your digital transformation.
Consolidate your data
Nowadays, data is easily available; however, it has also become very messy. And with numerous tools operating across teams and departments, it is no surprise that businesses get confused with their data. With no structure to regulate data flow or centralize its collection, your teams will not be able to see the full picture.
This can result in hazardous data silos that can negatively impact your company’s productivity, creativeness, and accuracy. Manual data entry is mostly used to gather data, wasting time and sometimes creating mistakes. Therefore, when you introduce one source of accurate data, your teams will be more productive, and it will also ensure that your data is accurate and free from manual data entry errors.
Use cloud-based technology
The cloud is everywhere, and you cannot find a digitized business without cloud-based technology. Also, the majority of the workloads today will be in the cloud within the next four to five years.
Therefore, you must upgrade your old IT infrastructure and incorporate new technology that enhances your business by automating and speeding it up. The cloud-based solution you will choose will depend on the service you provide and must complement the services your customers get.
Refocus on cybersecurity
Whether marketing analysis, customer information, economic figures, or anything, every company revolves around data. Also, the many data breaches and cyber-attacks have made many businesses concerned about their cybersecurity. And if your company data is compromised in any way, it can only spell a catastrophe. Therefore, you must ensure that your business’s security practices are up to speed with digital transformation.
Start by educating your employees about all the likely cyber threats, use a strong password, and have a strong firewall. No more second-guessing; it is time to incorporate machine learning, artificial intelligence, and the cloud into your security solutions.
Add user journey
User journey might sound like a big deal, but it doesn’t have to be that way. This means the step a buyer makes when interacting with your business before taking any further action like buying or signing up for something.
The best way to incorporate user journey is to get your business online. You will need a website and a strong social media presence. This is mainly because most buyers today want to see you online, check out if you are their best solution, and, more importantly, interact with your product name.
Besides, long gone are the days when you would anticipate a buyer quickly deciding on your products. Everything relies on your user journey and how you portray yourself online.
Use mobile payment
You cannot beat the convenience of mobile payment capacities, and the good news is that there are many ways of incorporating it into your business. Also, mobile payments eliminate the need for your customers to carry credit cards and cash, meaning they are secure. Mobile payments are also convenient and can increase your sales while at the same time can grow your business.
Summing Up
Digitalization is an excellent strategy for businesses that want to deliver a more tailored and enhanced customer experience. Also, digitalization will make your business more productive, add a boost in sales, and can increase customer satisfaction, but only if you do it the right way.
While it is not easy to choose a technology and use it, you can start by establishing clear goals to define your company’s digital strategy. Then, improve your employee’s mindset and keep up with the latest digital transformation trends.