‘Digital Transformation’ was one of the CMO and CTO buzz topics of 2015 and into 2016. It’s a difficult concept to define but this article aims to explain what the concept means to Revium.
What is Digital Transformation?
Digital Transformation is about making a significant change in the way an organisation uses technology to redefine the way they do business. It’s not just switching pen and paper for a tablet, the transformation goes much deeper, examining down to foundational aspects of operations and which technologies can enhance them. These changes can mean focusing on adopting technology for the first time to unlock a new area of business or, redefining an outdated technology driven process for significant improvement.
A quote from the MIT Sloan Management Review:
“The use of technology to radically improve performance or reach of enterprises — is a hot topic for companies across the globe. Executives in all industries are using digital advances such as analytics, mobility, social media and smart embedded devices as well as improving their use of traditional technologies such as ERP to change customer relationships, internal processes and value propositions. Other executives, seeing how fast digital technology disrupted media industries in the past decade, know they need to pay attention to changes in their industries now.”
Some of the main reasons behind the focus on Digital Transformation over the past couple of years are:
- Customer expectations are much higher than they were 5 years ago. We’ve been through a mobile revolution and the bar has been set sky high for service delivery.
- Cloud based technology has reached a level of maturity and sophistication that provides a compelling argument that it’s time to re-think core systems and new ways of delivering services.
- The internet has been around for 20 years and most enterprises have had at least a couple of major evolutions of using technology to run their business. Through trial and error, we have become better at the process of selecting technology and defining success.
Digital Transformation Checklist
When organisations commence a long transformative journey there are plenty of aspects to consider. Before committing to a particular path here is a short checklist to consider
- Build Analytics capability to inform decision making during the Transformation Process. Data is critical to making long term decisions
- Invest time in understanding the digital landscape in your industry and wider
- Analyse current digital process within the business and know your current situation
Pitfalls & Road blocks:
- Strong leadership is required to avoid organisational road blocks, make sure you have the right team in place
- Unpicking bad technology choices can be costly, do your homework and get good advice
- Choosing the right partner is critical to success. Develop a solid brief before going to market
Outcomes & Goals:
- Use technology to enhance the in-person sales experience, not just to make employee’s jobs easier
- Improving customer retention through post-sales services is critical and can increase your customer’s Life Time Value (LTV)
- Solutions that focus on scalability of operations should take priority over ‘bells and whistles’
Industry bodies and Professional Organisations
Professional Organisations are now realising they can deliver and manage the bulk of their services through an online portal. Being able to manage education services, Career Professional Development (CPD) and access to member benefits are now the expectation for professional organisations.
The retail sales experience
With many incumbent ‘bricks and mortar’ retailers falling by the wayside in the new digital economy, the remaining players and new comers are looking to new technology and automated sales funnels to transform their business. The emerging industry of marketing automation platforms are able to bridge the gap between online and offline activity and efficiently nurture leads through to conversion at scale.
Utility and Service Retailers
Attracting customers can be the easy part, retaining them and building the customer base of a national or regional services retailer is much more challenging for big players. Customers expect to be able to view usage, pay bills and manage their account online, particularly on mobile. This expectation is only going to increase as we transition to a paperless society. Australia Post significantly increasing the rate for delivering physical mail only accelerates the need for change within these organisations.
Revium has been assisting enterprises make significant transitions since our inception in 2008. The strength of our organisation has always been designing and building complex solutions combined with elegant and intuitive user experiences. This skillset makes Revium uniquely positioned to assist customers with high reward transformations.
Revium are on-hand to assist your organisation, whether its consultation, advice or implementation. We’re in the business of helping you succeed and building long term relationships that will see you through to your next transformation, whenever that may be.