10 benefits of Digital Transformation acceleration
Surely you know what digital transformation is and why your business cannot do without it. You are aware that going digital is a total must in today’s world if you want to maintain a competitive edge in the market. The thing is, the circumstances are changing so rapidly, and so are the technologies, that a gradual, slow-paced transformation process is just not enough.
What is a Digital Acceleration Strategy?
So, what exactly is digital acceleration? What does ‘accelerated’ mean in this case? How does it differ from digital transformation as we know it? And why does it need a strategy?
Acceleration refers to speeding up the digital transformation process, but as you may expect, there’s more to that than just putting your foot down on the motorway towards the digital mindset.
The main difference is that by adopting a digital acceleration strategy, you will no longer focus on your final destination of complete digital transformation.
Rather than that, you acknowledge that this is a never-ending and constantly-quickening process, and you decide to follow it in all the aspects of business management, regularly upgrading and updating on the way.
What is more, as a survey by PwC reveals, 80% of customers list speed and convenience as some of the key components of a positive customer experience.
How does a Digital Acceleration service help you?
Like with most changes and digitalisation in an organisation, you need to build a proper strategy.
Although the accelerated implementation of digital transformation might seem rather vague and messy at first sight, a well-prepared accelerated service will help you keep pace with the current shifting market demands.
The complex and continuous digital change requires the adoption of a carefully crafted business strategy of digital acceleration, which covers your business models, data management, products, services, and technologies, as well as digital marketing.
A solid digital acceleration service relies mainly on data analytics, risk management, the cloud computing, AI and ML tools, and Human-Center Design. Based on your business objectives, a digital acceleration strategy provides you with a customised schedule for your desired business value.
Working with an external team of experienced tech and product design specialists, you will be able to define your business vision as well as identify the needs of your audience.
Together, you will reshape and break this continued workflow into smaller, manageable, and feasible steps.
Among other things, we can help you with:
and address your individual needs in a variety of different sectors!
The benefits of a Digital Transformation plan
Fostering a culture of digital innovation and growth
Digital acceleration is meant to speed up your digital processes and increase the reaction time to leverage the latest technologies.
However, when done blindly and without a plan, it will simply be ineffective or lead to mistakes that companies tend to make during Digital Transformation.
By adopting a digital transformation strategy focused on speed and continuity, you can introduce changes both quickly and methodically, dividing them into stages and modifying them according to the market needs and data based insights.
In this strategic process, it’s crucial to prioritise scalable digital solutions and cross-departmental collaboration, ensuring that digital initiatives are not siloed but integrated across the entire organisation.
Additionally, regular training and upskilling programs are vital to equip the workforce with the necessary skills to effectively embrace and drive the digital transformation journey.
Data-Driven insights for informed strategies
With a digital transformation service, you rely on an experienced and qualified team and a digitised process management based on data.
Digital acceleration facilitates integrating information and automating data collecting and analysing procedures. This will help you make faster and better decisions that fuel your business and push it forward to evolve and embrace change.
Building on this, the insights gleaned from data allow companies to spot new trends and understand customer preferences more accurately, giving them a competitive edge.
Also, by using these insights, businesses can offer more personalised experiences, strengthening customer satisfaction and loyalty by catering to individual needs.
Operational efficiency boost
Digital transformation initiatives not only streamline your existing operations but also open up opportunities for innovation, allowing your business to experiment with new ideas without the risk of starting entirely from zero.
Plus, it helps in quickly identifying and addressing any inefficiencies, leading to improved productivity and cost reduction.
A well-thought-out digital acceleration strategy enables your company to make the best use of the processes and infrastructures you already have, simply adjusting them to the current market requirements. And if you don’t know how to do it, you can always get help from digital transformation consultant.
Leveraging digital technologies for cost efficiency
By strategising your digital acceleration, you can also reduce internal costs.
This is actually a result of all the previous benefits – with fast and organised growth, better and more agile decision-making, and optimised resources, you secure financial savings for your company.
These savings can then be reinvested into further technological advancements, creating a cycle of continuous improvement and innovation within your organisation.
Upgrading your services
This is one of the main goals and benefits of a digital acceleration strategy. All the automation tools and new systems you employ will allow your company to offer innovative products and modern solutions whose development will now take weeks rather than months.
This not only keeps your services at the forefront of industry standards but also allows for the exploration of new markets and customer segments, expanding your business reach.
In other words, it enables future digital growth of your business.
Competitive advantage
Again, all of the above business benefits lead to this one: accelerated digital transformation is absolutely necessary to remain competitive and avoid falling behind your competition.
In a 2021 survey by HBR, 86% of business executives across different functions said that their organisation had accelerated its digital transformation efforts during the pandemic.
Out of these, 91% plan to maintain the heightened pace of digital transformation. Embracing this rapid pace of digital change keeps you in the game, ready to capitalise on new opportunities as they arise in the ever-evolving business world. You don’t want to be left behind!
See what advantages digital transformation can give you:
Digital transformation in finance: what you have to know now
Insurance digital transformation: (r)evolution in the industry
Increased efficiency
An acceleration strategy for your business helps you optimise existing resources, make the right data-informed decisions, and develop digitally in a fast-paced and, at the same time, organised way.
All these transformations will result in better productivity and operational performance of your company, which, in turn, translates into higher profits. Efficiency gains also allow for reinvestment into research and development, opening doors to new product lines and innovative service offerings.
And don’t miss out on another trending opportunity: accelerating Digital Transformation through the Cloud.
Scalability and agility
An effective digital transformation strategies are scalable. In fact, scalability is at the same its crucial trait and main purpose.
It’s meant to increase your adaptability to changing circumstances and environments so that you can adjust your solutions and technologies in a flexible way, also thanks to automating repetitive processes.
Think of all the opportunities that scalability can bring to your digital acceleration strategy, allowing you to innovate entire organisation, discover new revenue streams and adapt more effectively to new technologies.
But to keep things under control, check 3 ways to measure the success of your digital transformation.
Resilience
According to TechTarget definition, business resilience is “the ability an organisation has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people, assets and overall brand equity.”
By having a digital strategy in place, your company will be equipped with the necessary tools and flexibility to not only recover from setbacks but also to take advantage of them as opportunities for growth and innovation.
Moreover, it fosters a proactive mindset throughout the organization, enabling your team to anticipate and prepare for future challenges more effectively.
This is exactly what a digital strategy accomplishes: it prepares your business for the future and enhances your digital maturity.
Improved security and compliance
Digital acceleration offers safety in conditions which are far from safe. With a customised digital strategy, secure the fluent functioning of your business as well as guarantee the security of your data and resources.
For example, according to the State of the CIO Study 2022, 76% of CIOs anticipate to increase their involvement in security.
Taking this action ensures that as your business grows and evolves, it remains compliant with ever-changing industry regulations and standards, safeguarding against potential legal and financial risks.
How Digital Transformation benefits can elevate customer engagement?
Digital transformation has revolutionized client engagement by offering personalized services and real-time interaction.
For instance, customers can now connect with companies through social media integration and mobile apps, anytime and anywhere, and receive immediate assistance and support.
Data analytics also allows businesses to personalise their products and advertisements to each customer, enhancing the relevance and engagement of every connection.
Customers are more likely to be satisfied with this method, which, in turn, enhances the possibility of referrals and repeat purchases.
In addition, digital platforms have the ability to automate common inquiries, allowing human agents to focus on more intricate matters. This ultimately improves the overall level of customer support.
Also, don’t forget about ESG and Digital Transformation in business – nowadays an ethical investment must take a joint perspective on ESG and Digital Transformation integration.
Take a look at our list if you would like to know 10 examples of companies that have benefited from digital transformation.
Embracing advantages of Digital Acceleration: a leap towards prosperous future
Studies show that over 80% of companies perceive accelerating their digital transformation as a strategic necessity. C-level executives need to take the data into account to deliver value to customers and the company.
The business outcomes that digital acceleration can bring are probably countless – we have just enumerated the major benefits.
Wait no more and hit the road to drive the organisation smoothly alongside this winding path of accelerated digital business growth!
