It’s likely that, as a business owner, you’ve heard the term “digital transformation.” So, what exactly does it mean?
Digital transformation is the change associated with using new technologies to enhance and innovate the ways you do business. 72% of SMB decision-makers say that technology solutions help them significantly improve business outcomes and/or run the business better. Thus, more and more SMBs are incorporating technology into their everyday processes to boost productivity, increase results and optimize resources. Ultimately, they’re also leveraging the power of these new technologies to stay relevant and competitive.
Companies that are ready to digitally transform their business should first create a strategy for success before diving head first into big change. This means outlining a plan for the why, what, how, and when of achieving transformation objectives. If you’re looking to reap the full benefits of digital transformation in your company, it’s a good idea to create your own game plan.
Here’s our recommended approach to starting on the right path:
1. Why: Assess Business Goals
First thing’s first. You’ve got to determine why it’s time to make the shift and what you want to achieve through digital transformation. Ask yourself: what are the business goals we want to achieve better or faster with new technology? Where do we see ourselves in six months? A year? Five years? Once you know the objectives you want to work toward, you can figure out how to achieve them.
2. What: Determine What to Enhance
Create a prioritized list of operational problems you’d like to solve, technologies you’d like to update, and processes you’d like to automate. Decide how, specifically, you’d like to improve. A good way to do this is by looking at the information available regarding various technologies and processes (for example). Find out what works for businesses like yours, and compare what you find with your current operations. This will tell you exactly what parts of your business could benefit most from a technology update or change.
3. How: Research the Options
There are a variety of technologies out there designed to transform the way you work. Not all of them are going to work for company’s needs. That’s okay. Put in the time exploring different options, comparing their offerings to what your goals are. How can they help you reach them – be realistic about which ones make sense for your organization? Doing this will help you decide what combination of technology solutions is the best fit for your business.
4. When: Create a Timeline
Once you decide the technologies your business needs to grow, change and improve processes, you should decide on an implementation timeline. You may not have the funds and time to do the entire transformation at once. So, it’s critical to plan out when each of the key steps should happen. This allows you to properly allocate resources to make sure the transformation happen according to your vision.
It’s also important that all C-level positions and managers in your company are aware of, if not involved in, the implementation timeline. They will be important to lend support for and even drive the transformation process, not to mention help resolve any challenges that come up.
At Process Fusion, we specialize in developing technologies that help you process faster and share more securely. If you are looking for experts to help you digitally transform your business, please reach out. We would love to discuss your company’s goals and work with you to create a digital transformation strategy that helps your business move forward in the right direction.