Digitalisation Strategy and Business Transformation
Digitalisation of operations have been going on for years. Companies are always looking for ways to become more efficient and, hence, incorporation of technologies and automation of different organizational functions have been a part of a company’s strategy. Covid-19 not only accelerated this digital transformation but also highlighted the importance of adapting quickly to dramatic changes, including disruptions to supply chains, time-to-market pressures, and rapidly changing customer expectations.
It won’t be wrong to say that one of the main reasons for recent upsurge in digital transformation is basic economic survival. Companies were not fully prepared for this change. Especially, what will be the effect of digitalization of operations and processes on employees and overall organizational culture were not explored thoroughly. Digitalization was not strategized, and digitalization readiness was not assessed, as the focus was to survive in the short term in a controlled environment.
For new startups, it is important to ensure they meet the criteria of digital readiness to achieve best results. For companies who managed to digitalise haphazardly, now is the time to internalise this digital transformation for organization-wide acceptance. At Haimar we can help in assessing and enabling companies to get ready for this transformation. We can also help companies in developing strategies to make this transformation a part of overall strategy so that digitalization benefits can be acquired.
What is digital transformation?
It is a process of utilising modern technologies to create new - or modify existing - business processes, operations, culture, and customer experiences.
Reimagining of business with digital tools to remain competitive.
Incorporation of new technologies and to re-examine how they carry out business pre-covid restrictions.
Why transform?
To improve performance.
To keep up with competitors and to meet changing market requirements.
To transformation traditional roles like sales, marketing, and customer service, and is primarily concerned with how organizations think about, and engage with, customers.
To greatly increase customer experience.
To Diversify into industries that were never before possible.
Types and levels of digital transformation
Companies have or should transform their PROCESSES, operations, and relationships management. It includes modernization of organization’s processes, integration of new technologies, and better incorporate core systems.
Many companies are pursuing digital technologies in order to transform their traditional BUSINESS MODELS. New technologies can redefine products and services, blur industry boundaries, and foster opportunities for non-traditional competitors. This form of transformation offers incredible opportunities for businesses to create new value focusing on CONCENTRATION, DIVERSIFICATION, and GROWTH strategies using existing capabilities and transfer of competitive advantage in other industries.
Transformation of ORGANIZATIONAL CULTURE and dominant logic. If an organization fails to align its digital transformation efforts with its internal values and behaviours it can have a knock-on effect on an organization’s culture.
Benefits of digital transformation
It lowers operational costs by improving efficiency.
It increases accuracy by becoming more effective.
It improves speed of delivery of products and services to customers and getting feedback from them.
Digital transformation does not end with the implementation of new technology. Organizations should think beyond technology to embrace true digital transformation. It is only with a complete overhaul of an organization that businesses can realize the benefits of digitization: enhance operations, create collaboration opportunities, expand their service offerings, and revolutionize their approach to the customer experience.
We can help you in your business transformation by conducting post industry 4.0 analysis:
starting from assessing or making your company transformation ready
upgrading systems and processes in align with latest industry trends
implementation of those systems
If you’re ready to start your business transformation, let us know today, and together we can decide which approach is right for your business. Contact us at info@haimar.co.uk for further details on how can we help.
