Written on 26th May 2021 - 4 minutes

ARTICLE | Uncover what the buzzword ‘Digital Transformation’ means

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Digital Transformation (DT) is something that all organisations and businesses have had to consider, especially due to COVID-19 creating a situation where remote working has become the ‘norm’ for many organisations.

The tech and software industries are coming to the fore with new ideas and innovations to help businesses thrive, with more people looking to make sure they are at the forefront of the digital curve. So how do you decode and break down what Digital Transformation actually means, well here’s a big clue, it doesn’t necessarily mean investing in the latest shiny software. Here’s how to transform your business through successful transformation that is in line with your goals, vision and business.

What is Digital Transformation in a nutshell? 

Digital Transformation

In short, Digital Transformation is connecting and (where appropriate) enhancing your technology suite and enabling innovation and integration. This includes unlocking opportunities/improving efficiency and revenues by optimising existing tech into all areas of a business. This fundamentally changes how a business can operate and function. Digital Transformation looks different for every company, so it is very hard to pinpoint a one-size-fits all approach. Using modern or enhanced digital technologies to improve your business for some can mean moving to a cloud-based system or it can involve creating a small, streamlined approach to systems that are already done by hand to speed up the processing time. One example could be a small-scale company looking to speed up manual stock-taking or a large-scale business implementing a CRM system, such as Dynamics 365 to bring all areas of the business together.

Where do I start?

Digital Transformation - Infographic

 

We recommend defining your ‘why’ as a business or doing a SWOT analysis, this will enable you to look for the best way forward to implementing digital change.

Another good way to start is to look at your processes and asking yourself questions such as:

  • Can these be adapted to enhance speed and delivery?
  • How are each of the functions performing?
  • Do I have a single view of my customer?
  • Can systems be improved to enhance the customer’s journey?

This focus on your “why” and asking questions about your processes and how they fit with the values and aspirations of your business.

You may want to  increase revenues through improving customer experience or drive efficiency through increasing productivity. Going back to the fundamental questions, will ensure that you gain a clear view on the way you want to utilise digital technologies to enable your organisation to survive and thrive. This level of thinking ensures that you don’t end up with all the latest tech and no idea how to really leverage it, as you’ll be using the assets you have and enhancing them to get what you truly need.

Customers now want everything at their fingertips, and it is important to make sure your systems are in line with what your target audience are looking for and most importantly, the changes are achievable. The pandemic has forced companies to embrace a more digitally orientated way of working and trading more than ever before (or at least quicker that planned).

The response to the pandemic has shown how specific challenges and demands have improved customer experience and integration. There are plenty of things to question and develop to make sure that your business can take advantage of the streamlining and growth possibilities presented by digital.

Why is it necessary? 

  • It can genuinely bring competitive advantage or at the very least keep you up to date with your peers.
  • You can operate more efficiently with everyone looking at the same information from any location.
  • You can ensure you collect and analyse the data that really matters to your business in a joined up cohesive way.
  • You can deliver a better customer journey and experience to encourage repeat business and referrals.

Challenges to Digital Transformation

  • You may lack the  technical skills inhouse, or the ability to extract them long enough from the day-to-day business demands.
  • You may have budget constraints, especially after a challenging year behind you.
  • You may be nervous of outsourcing as it is hard to assess the depth of skills they have and whether they have all that you need. Sometimes it’s hard to get past the marketing fluff to find the truth.
  • You may have a culture resistant to change and happy with “the way they have always done it”, in which case you need to design a transformation that is gradual and sympathetic to that.

Here are three examples of how Software Solved have supported organisations to successfully deliver incremental digital transformation (click the links to find out more)

Digital transformation done well brings a lot of positives to an organisation, to its staff and to its customers. They key takeaway is that it doesn’t need to be “big bang”, a programme of smaller incremental changes towards your vision will keep you current, help manage budgets and maintain the flexibility to adapt your business in a nimble way while moving towards your future vision.

At Software Solved, we work closely with all of our clients using our 22years experience to deliver pragmatic, achievable digital change with the right advice and tech to help you achieve your vision for your business. Find out more about how we can assist you in transforming your systems, from System Health checks to implement a functioning strategy that fits within the evolving digital world.

This article was written by  Lindsay Lucas

As a the Managing Director of Software Solved, Lindsay Lucas provides insights on insurance software solutions and technologies for a range of industries.

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