10 benefits of a digital acceleration strategy for your business
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 businesses need right now to keep up, move forward, and stay ahead is an effective digital acceleration strategy.
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 process of digital transformation, but as you may expect, there’s more to that than just putting your foot down on the motorway towards the digital mindset.
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 positive customer experience.
How Does a Digital Acceleration Service Help You?
Like with most changes and processes in an organisation, you need to build a proper strategy. Although 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 processes, products, services, and technologies as well as digital marketing.
A solid digital acceleration service relies mainly on data analytics, risk management, the cloud, AI and ML tools, and UX technologies. 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.
The Benefits of Implementing an Accelerated Transformation Plan
- Fast and organised growth
Digital acceleration is meant to speed up your actions and increase the time of reaction to leverage the latest technologies. However, when done blindly and without a plan, it will simply be ineffective or even detrimental to your business. 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.
- Faster and better decisions
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.
- Optimising your resources
You don’t need to do everything from scratch. 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. So much time saved!
- Optimising your costs
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 in terms of software, people, and revenues.
- 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.
- Competitive advantage
Again, all of the above business outcomes 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. You don’t want to be left behind!
- 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 of these transformations will result in better productivity and operational performance of your company, which, in turn, translate into higher profits.
- Scalability
An effective digital transformation strategy is 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.
- 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.” That’s exactly what a digital strategy ensures: preparing your business for the future and enhancing your digital maturity.
- Improved security
Digital acceleration offers safety in conditions which are far from safe. With a customised digital strategy, secure fluent functioning of your business as well as guarantee the security of your data and resources. For example, according to State of the CIO Study 2022, 76% of CIOs anticipate to increase their involvement in security.
Wrap-up
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!
