We live in a time when it’s common to watch live streams of friends’ adventures during travels, and our mobile phones have exponentially more processing power than the computers that, until recently, sent people into space. It’s often said that we live in a technologically advanced society and era, but have we fully embraced digital transformation and leveraged the benefits of technology? What is the situation with companies as key players in the economy, and how much progress can they achieve through digital transformation?

Most companies do not invest in digitization out of desire and a vision for their business but out of necessity. The investment is often expensive and initially risky, but it becomes necessary if the company has not gradually invested in new technology over the years.

 

 

Without transforming the core of business – the value system, people, processes, and technology – every digital transformation will be limited to short-term improvements. However, such an investment should not represent a short-term solution but a long-term investment that ensures prosperity.

Digital transformation requires significant and bold decisions to establish a new business model, not just to improve operations. Knowing how to face such decisions, set priorities, and implement them is often what makes the difference between successful and unsuccessful transformation.

There is no universal formula for successful digital transformation because, like people, all companies are different, with their specificities and areas where they can gain a comparative advantage.

Is having a profile on social media and an email contact on the website enough? The answer is – of course not; it involves a much larger integration of available technological solutions, as well as a change in thinking about the company’s business and opportunities in all areas. It is also unrealistic to expect that by purchasing a lot of IT equipment and furnishing the office without a clear vision, you will succeed in digital transformation.

Developing a strategy for a successful transformation is a challenge for all companies, as well as for countries, so it should not be taken lightly. A significant obstacle is the fear of change, especially among the generation that did not grow up with technology, and it poses a considerable challenge for them.

In general, people are not inclined to change or leave their comfort zones, so resistance from staff is something to consider, even in companies closely following new trends.

Common obstacles also include a lack of financial resources and a shortage of skilled personnel to implement changes. The person responsible for change needs to take all these factors into account when developing a strategy for each company.

The accessibility of technology has opened up complete possibilities for remote work, and there are many cases from various industries where it no longer matters where you come from. Also, there is a greater emphasis on quality business because it is more challenging to hide “bad” companies and/or their actions.

We can only assess successful digital integration when companies integrate digital technology into all areas of their business and thinking and when that technological progress provides better service to end-users.

“A wise man learns more from his enemies than a fool from his friends.” (Publilius Syrus) Companies like Kodak, Blockbuster, Yahoo completely ignored the inevitable digital transformation, leading to the downfall of these companies.

A good example is Airbnb and Uber; they offered market needs in a way that suits both service providers and users. Their business is entirely digital, and the popularity they gained in a short time speaks volumes about the success of the implementation.

The biggest problem is that many companies still postpone decisions related to the introduction of new technology, but digital transformation today is no longer a matter of choice – it is inevitable, necessary, and unavoidable.

What does digital transformation look like?

Every company has specific needs and challenges in the process of digital transformation, but there are general factors that need to be addressed in most modern organizations.

The most common areas where digital transformation is introduced include:

1. Customer Experience
2. Acceleration of Business Processes
3. Leadership and Working Conditions
4. Facilitating tasks traditionally dominated by humans
5. Introduction of new technologically advanced devices

 

 

Digital transformation doesn’t just concern IT departments but extends to all employees, from the top of the hierarchy to the bottom. For this reason, digital transformation is primarily about employees, not just devices as many might think.

If all of this has discouraged you and your company seems to operate in the Stone Age, don’t worry. One of the biggest misconceptions about digital transformation is that your competition is light-years ahead, and you can no longer catch up.

Every reorganization is challenging, and all entrepreneurs have the opportunity to do something positive that will give them an advantage over their previous operations.

To begin with, it is essential to involve all key decision-makers, those who will drive other employees and ensure the implementation of the strategy works.

After that, goals need to be transformed into digital processes. For example, if you focus on online sales, it is crucial to work on the design of the website, making it look less like an old-fashioned catalog and more like a modern web store.

After researching the needs of the target customers, connect all the obtained results and develop how they fit into every segment of the business as a whole.

Lastly, but most importantly, it is necessary to stay in tune with trends. Constantly measuring the effectiveness of implementing all processes is the only way to know that your strategy is truly yielding results.

NOS LLC for business consulting can assist you in the digital transformation of your business, achieving multiple benefits for your company through the following main steps:

1. Assessment and diagnosis of the current state in the company
2. Recording the ways of performing tasks (according to steps in a specific program or in general) according to job positions and/or departments
3. Creating a process book according to job positions and/or departments
4. Proposal for digital business transformation (preparation, mediation, and support during and after the implementation of new software solutions)
5. Based on accepted proposals, supplementing the created documentation and/or negotiating further projects
6. Digital transformation involves systematic changes in all aspects of business: new investments in people, technology, business models, and processes aimed at creating new value for customers and employees and more efficient competition in the digital economy.

People are the drivers of change and the key to every transformation. That’s why the focus of digital transformation is on employees. The goal is to provide employees with new knowledge, skills, and competencies so that, as a team, they can compete more successfully in an extremely dynamic digital market.

In the process of digital transformation, the goal is to enable users/customers to search for what they want, whenever and however they want it. The development of new technologies, software, and applications has allowed companies to connect with customers at different levels, from providing information about purchases, assisting in decision-making and the purchasing process to exchanging information about satisfaction. Therefore, digital transformation represents a change in all forms of business and processes in which employees interact with customers.

 

 

For some companies, creating a website, opening digital communication channels, and hiring a few digital experts are sufficient, while others need to introduce much more complex processes and hire a larger number of experts at different levels of business. Each company is individual, so the developmental path of digital transformation for each company is different.

Digital transformation is the successful integration of technology into everyday business. It is not just a ‘dead letter on paper’ or in this case in the ‘clouds,’ but a fundamental change in business, bringing about immediate changes and those visible in the future.

With the introduction of new technologies, the approach to business changes for obvious reasons – what we once did by hand on paper is now entered via computers. While we used to do calculations and estimates ourselves, these same computers have taken over that task.

It is impossible to avoid technology, but there is no reason to do so because, with proper use, we can achieve what we considered an impossible mission just a few years ago.

Cloud computing, artificial intelligence, and the Internet are just part of what falls under the processes of digital transformation, but that is far from everything. In order for your company to successfully transition into the digital age, it is necessary to start by adapting the way of thinking about business and decide to take some risks.

One of the most important reasons for digital transformation is the speed of business. Although various economic sectors have different concepts of speed, e.g., the speed of feedback to the end user or the speed of product development, digital business transformation ultimately needs to transform existing processes and accelerate processes throughout the entire company.

Every customer undoubtedly appreciates receiving content or information they are interested in or need in a short period. Ultimately, their decision to choose a product or service will depend on whether their ‘digital journey’ is paved with obstacles or flows smoothly and pleasantly.

Most companies that have successfully accelerated processes through digitization are now market leaders and continuously invest in employees and the latest technology to maintain their position.

With a range of benefits that digital transformation brings, the most important reason for most is survival in the market.