The global corporate landscape is going through a radical transformation. Digital transformation (DX) is at the forefront of these changes. In a study published by IDC (International Data Corporation), worldwide spending on DX is expected to $2 trillion by 2022.
Over the coming years, this sector is expected to grow by over 16% per annum. In fact, by 2022, companies are expected to devote 10% of their budgets toward DX.
When it comes to DX, there are two different factors to consider: the technology itself or the people behind the scenes.
The structure and shape of organizations and businesses continue to change daily. New apps and platforms continue to explode into the market as technology advances. Data also continues to grow with many organizations currently in existence based solely on the handling and manipulation of data.
Businesses around the world have come to realize that information matters, but there remains a disconnect. The imbalance between IT systems and the skills needed is only becoming larger. As products and projects become more complex, the shift to digital is going to further impact businesses.
Custom software can help, however. Custom software which is built for a specific purpose offers many advantages.
- As a business owner, you own the technology that effectively automates the operations of your company. As such, this asset increases the value for your company and the unique value for customers.
- Your organization develops a scalable and flexible technology that allows your business to evolve and adjust to the growth of the business.
- The daily business operations in your industry are facilitated to provide functions that increase productivity.
- Your company saves money over time as the software is cost-effective. In the long run, it serves your business significantly without incurring any additional costs.
- Custom software integrates with existing systems, saving you additional funds.
- Custom software is tied into your existing processes. With custom software, you’re not forced to conform to the industry. The processes you’ve developed over the years can be seamlessly mapped.
Companies are more than the product or service they sell. The true heart of any organization is the people within it. This includes the service staff, finance, management and everyone in between.
Many people believe that corporate change only comes from senior leadership. This is not the case though. The HR department plays a huge role in delivering change and keeping pace in the business industry. For instance, the HR department:
- Creates an agile environment to meet the demands of the business.
- Sets goals and maintains the overall performance of employees to maintain a steady path for development.
The workforce team in an organization faces a significant challenge when it comes to digital transformation. The change calls for excellent skillsets in complex problem solving and creativity. When such powers do not exist in the workforce team, it leads to an increase in scarcity of talent.
For an organization to transform its business, it must begin by changing the Human Resource Department which includes its people and its resources. The transformation of this workforce would require effort. New tools would need to be deployed based on an agreed-upon corporate vision. The process of engaging the workforce and encompassing the existing talent management should include:
- Developing, retaining and attracting the right talent in the business
- Ensuring that the HR department supports continuous transformation and change
Benefits of Digital Transformation
Digital transformation has more buzz and potential than just the “digital” aspect. As a company grows to become more IT-intense, it unfolds greater benefits. These benefits enable it to survive in this rapidly changing world of digital technology. Some of these benefits include:
Improved Flexibility and Efficiency
Digital transformation helps organizations change as the market demands change. Implementation of automated workflows in the business also helps to establish business models to enhance efficiency in the industry. That way, the structure can meet the specific demands of customers and provide them with even better results.
Digital Transformation Enhances Transparency
A business established behind a developed IT setting has fewer chances of suffering from loss-related risks. Digital transformation is an agile approach to eliminate mishaps in a company. It automates communication, workflow, and daily updates in an organization.
What’s next? - Reduced risks of failure in the organization. Greater visibility provides additional benefits. This includes:
- Performance monitoring of the team
- Tracking and monitoring of assets
Digital transformation enhances greater collaboration in an organization. This ensures improved teamwork among departments and employees. Other departments can also benefit from this.
Sales and marketing strategies, for example, are influenced by shared information. Management and senior leadership have the right information when making decisions. Accounting and finance can plan out strategies.
Improved Customer Satisfaction
Customers seek what they want, even if it means checking almost everywhere to have their needs met. Embracing a technology that makes their concerns possible would provide them with a sound solution. Digital advancements help you to provide the simplicity that customers want to meet their expectations.
Companies looking to embrace trends in DX know that they need to implement custom software solutions. You need a leading custom software developer to increase your company’s profitability and productivity. Custom software is proven to improve services for businesses. It helps make them more efficient and agile, while also improving communication.
At Konverge, we are well-equipped to meet the needs of your business. Our services range from business analysis, technology consulting, application maintenance, QA, and solution integration. Our teams have built custom software applications for customers around the world.
As an added plus, we also offer UX and UI design services, road-mapping, support, and product envision. Our integrated service lines provide a collaborative approach to mitigate risks and improve efficiency in any type of business. We are an Agile software company and can help your organization achieve the milestones you’ve set. Konverge understands DX and can help you navigate the challenges of the future.