How digital transformation can impact business growth?

DIGITAL TRANSFORMATION: A KEY DRIVER FOR BUSINESS GROWTH

?Digital transformation is adopting modern technologies across business systems and processes to pursue fundamental change. Following the pandemic, which has since accelerated the rate of tech adoption, it’s no secret what digital transformation can do to drive business value and keep your business ahead of the curve.

It is tempting to take the easy road by sticking with the status quo or rather, the traditional way of doing business. However, while the latter is true, it presents a much more significant challenge in contrast to having a digital presence.

?What are the benefits?

There are benefits that are associated with digital transformation should you wish for your business to maintain its relevance in the digital economy. Here are some to consider;

?Enhanced customer experience:?Technology is redefining the quality and delivery of customer experience today following the emergence of modern technologies such as Artificial Intelligence (AI), digital analytics, and automation, amongst others.

?For example, a business can use digital analytics to determine and understand market trends and customer preferences, while automation is a great way to improve the efficiency of a company’s operations. ?Therefore, businesses must incorporate customer-centric approaches to improve customer journeys and keep them returning.

?Improved efficiency:?Digital transformation is key in scaling down a good chunk of manual tasks which would have otherwise compromised on time and money meant for more value-adding tasks such as product development and strategy alignment. Some of these tasks include customer service requests and data entry which can and more efficiently be handled by alternatives such as automation.?

Customer loyalty/retention:?Behind every returning customer is a great service review. Every successful business strategy should have technology at its core, a sure-fire sign for excellent service delivery manifested through improved operational efficiency.

?Increased revenue:?Online sales platforms are a great way to generate more income/revenue streams, especially through e-commerce which allows for a wider market reach.

Enhanced agility:?A business must be flexible enough to adapt to market changes. Digital transformation is that driver that enables businesses to become agile and more adaptable to change, especially if it allows them to respond quicker in developing new products and services.

?To sum it up, a well-thought-out digital transformation strategy will set you and your business apart, keeping you well ahead of your competition while transforming your business for the better.