Get your business ready for the digital age

Digital transformation is the talk of the town the last couple of years. With the business climate change, established companies are figuring out how to transform the way they engage with partners, customers, clients and operate their resources to compete with the new startups born in the digital age. And digital transformation consultants are here to help them.

• 55% of start-ups have already implemented digital transformation strategy, while only 37% of traditional enterprises have.

Take a second look at your business and make sure your company checks out all the digital boxes.

What is a digital business

Today the time is as good as ever for established corporations to transform. Business rules have changed, and in order to stay competitive and thrive in the digital age, companies need to readjust.

But becoming a digital business is not merely about adopting the latest technologies. Going digital requires both implementation of technologies and structural changes, as well as a shift in a company’s mindset.

Why are businesses experiencing digital transformation

• 27% of executives look at digital transformation as a matter of survival

With the present market competition, there’re two possible scenarios:

• either businesses acknowledge the new status quo and lead the digital transformation race in their sector
• or concede that fresh startups are innovation leaders and their days of glory are in the past.

Lessons from the best: digital transformation examples

Digital transformation is equally applicable to all industries. It doesn\’t matter if your business is big or small, there're a couple of lessons you can learn from industry’s leaders:

• Be a trendsetter, not a follower 

  Even if yours is an established business in an industry that on the surface doesn’t have a room for innovation, stay sharp. Britannica was in the encyclopedia publishing business. But it didn’t stand on their way to transforming their business completely and leading the online learning industry. They didn’t just digitize their encyclopedia but started designing lesson plans and other teaching tools. So, what started as less profitable venture eventually added up. By going digital Britannica was able to reach millions of customers compared to thousands that their printed version was attracting.

• Adapt to the needs of your customers

  Times change and with it the needs of your customers change as well. And as a business that wants to be relevant at all times, the best thing you can do is listen to what your customers are trying to tell you, unlike Kodak did. Kodak failed to transform on all fronts: in terms of innovating their products, the way they build a campaign for their customers or their work. The problem with Kodak was not that they failed to go digital, their problem was in not being able to adapt to the digital age and the new needs of their customers.

• Embrace the new world

  If something is not working, don’t persist stubbornly, find new ways to engage clients with latest technologies. Learn from the H&M’s mistakes that went on with their business strategy, failing to see that opening a new physical store is not a universal answer to every problem. Be flexible to the ever-changing world around.

• Traditional workplaces are changing too

  Employees are no longer office-bound. Flexible workplaces are on the rise, work and important information can be accessed from any place and any device, making the employees more mobile. And what’s even more important to understand, if you want to be a modern employer and attract top-notch human resources, these changes are expected of you.

• Look for a competent partner

  IT issues and lack of internal resources are among the top blockers of a digital workplace. Hiring new staff might take up too much time and resources. In most cases, it is more sensible to go for a technical partner that will bring their expertise.

If you’re interested in digital transformation and want to find out more what it means to become a digital business, as well as read about every digital transformation example mentioned above, download our e-book or contact us for digital transformation consulting!