To be or not to be digital?

The society has entered the digital revolution era and nowadays it seems almost impossible to imagine a person, living without digital technologies (Internet, various gadgets and services). And the faster these technologies are developing, the faster our reality is changing.

In the epoch of such dynamic changes any business can’t work based on the old models - it has to change, otherwise there is a risk of getting left behind the competitors or disappear at all. Therefore sooner or later companies will have to accept new rules for the game and get the knowledge of digitalization.

What is digitalization?

Digitalization is a deep business transformation, based on the use of digital technologies to enhance business processes, boost company productivity and improve the experience of communication with the customers. In most cases digitalization aims to cater the needs of consumers, and those needs are being transformed together with the development of technologies, in particular we are talking about creating of comfortable and efficient interaction between the customer and the company. Digitalization has also other goals:

• Upgrading of the product (or service): its quality, attractability, user-friendliness, delivery, etc.;
• Automation of manufacturing and other internal processes of a company;
• Simplification of internal and external communication;

In few years digital transformation will become essential for business, therefore company CEOs should seriously think of going digital right now.

What advantages can digitalization bring to a business?

Besides the fact, that digitalization keeps the business going, it has a range of advantages:

• High competitive ability;
• Cost saving (when applied competently)
• Simplifying of data handling
• Formation of positive company image
• Improvement of customer loyalty to your brand

Does every company need digitalization?

Using of modern digital technologies is to a certain degree necessary to any kind of business. The minimum you need is a website and accounts in social networks. To become closer to your customers you will probably need to develop a mobile application or a chatbot and use other promotion channels, which will really help to break the new ground. But regarding more significant digital transformation, in this case it should also concern deep business processes, such as manufacturing, personnel management, internal communication. Realization of this kind of transformation requires work with serious energy consumption, based on Big data, cloud and mobile services, agile development. Therefore digitalization is to the full extent important for medium and large business. Small business can be confined to the use of a few digital tools

How to carry out digital transformation of your business?

It may sound disappointing but nobody can provide a step-by-step guide on how to perform transition to digitalization. The management of a company should take the responsibility for this matter, because it is important to know all inner business processes in order to set the appropriate goals and work out a promising digital strategy. You also have to be prepared to mistakes and the so called “wrong turns”, but those problems shouldn’t scare you, as sooner or later you will have to transit to digitalization and this seems to be inevitable.

Basically digitalization is implemented in 3 stages:

1. Company analysis, setting of goals and strategy development

At first it is necessary to carry out the analysis of all business processes and strategic assets of the company: to determine the level of efficiency in all work sections, internal and external communications and think of the ways, how to improve it with the help of digital technologies. It is required to set a clear goal on this particular stage and develop a model strategy to reach it. Probably you will have to call on the assistance of professionals in order to minimize the risks. But development of the strategy does not mean that you will have to change the whole business, your main aim is to simplify business processes.

2. Introduction of digital technologies

When you determine a clear scenario, find professionals, ready to help you to bring it to life and choose required digital tools, you can start. You will need enough time for the implementation of new technologies - testing, correction of technical mistakes, training of your personnel/clients to work with services and etc. But in a short time, you will see the results.

3. Analysis of the results

It is important to analyze the efficiency after the implementation of each digital decision in order to make sure that it brings additional profits or other benefits to the company without any compromises to the budget. If not, it is recommended to reconsider your approach implementation of a particular digital technology or abandon it at all and substitute by another one.

The future is starting now.

The truth is that the future started yesterday and your competitors knew about it and already made steps for their transition to digitalization. That is why “now” is the right time to step on the path to digitalization and proceed to the new level.