Can you afford to start a digital business transformation? A better question might be: Can you afford not to?
Optimizing your operations for success in the digital economy in order to achieve organizational goals can seem like a daunting process. There are many myths and misconceptions about business process improvement. However, many of these are inaccurate. Regardless of industry or line of business, digital transformations can reduce inefficiencies, increase productivity, and lead to many other significant benefits for any organization.
To prove this point, here are five myths about digital transformations debunked.
Myth #1: It’s too expensive:
According to the International Data Corporation’s Worldwide Digital Transformation Spending Guide, investments in digital transformation technologies will reach $2.1 trillion in the next three years. With so many investments being made, it’s obvious that the economic landscape is making major shifts. So while there may be money spent upfront, consider how much profit you could be losing to competitors in the long run. Spending a little money now on improved customer service can save you more in the future.
Myth #2: We already have processes that work:
Things may seem to be running well, but as the saying goes, “There’s always room for improvement.” However you measure success, you can turn an idea for increased productivity and profit into reality with tools like cloud computing, workflow automation, online marketing, and many others. You don’t know what you’re missing out on until you take a closer look.
Myth #3: Keeping up with ever-evolving technology is too time consuming:
Technology is constantly changing and new solutions are entering the market every day. Staying current with the latest trends while handling a bevy of other responsibilities can be overwhelming. That’s why bringing in a trusted partner who specializes in emerging technologies is a solid strategy. A business transformation consultant can examine your current workflow and provide expert recommendations for which cutting-edge technologies will provide a lasting solution for your organization.
Myth #4: I don’t have the IT resources:
Sure, you may not have the resources now, but with a little work you could be better leveraged for increased success. This is another area where a digital business transformation consultant can help. Whether it’s recruiting new talent to join your team or restructuring your current employees, a consultant can help you identify ways to utilize resources that you never realized you had access to.
Myth #5: It’s too disruptive:
Perhaps your organization is already in the midst of a large company-wide initiative that’s on top of everyone’s mind, and you think now may not be the best time to consider starting a digital transformation. But the sooner you integrate a digital business strategy into your current plans, the better off you’ll be. With the right strategy, a digital transformation can not only work with your current initiatives it can enhance them for lasting success.
Technology solutions are disruptive by nature. But that’s a good thing. Digital transformations disrupt inefficiencies, tired processes, and factors that inhibit growth. With better solutions in place, you can increase sales revenue, create more efficient employees, and improve your customer experiences.
To learn more about how your company can enable a digital transformation, visit visiontreeventures.com.