Between 2020 and 2023, direct investments into digital transformation are projected to reach a total of 6.8 trillion U.S. dollars (Statista – Digital Transformation’s market size). Originally, the spending on the technologies and services that enable digital transformation worldwide for 2023 alone was expected to amount to 2.3 trillion U.S. dollars. The expected amount of spending indicates that digital is the new-age currency, and with the widespread adoption of digital technology, all businesses are heading toward digital transformation services.
But what are the ideal requirements, strategies, and services for a successful digital transformation? Let’s find out!
“Digital Transformation (DT or DX) is the adoption of digital technology to transform services or businesses, through replacing non-digital or manual processes with digital processes or replacing older digital technology with newer digital technology. Digital solutions may enable – in addition to efficiency via automation – new types of innovation and creativity, rather than simply enhancing and supporting traditional methods.
One aspect of digital transformation is the concept of ‘going paperless’ or reaching a ‘digital business maturity’ affecting both individual businesses and whole segments of society, such as government, mass communications, art, health care, and science.” – Wikipedia
To make it more precise: Digital Transformation (DX) means integrating new and improved technologies into all areas of a business in order to fundamentally change processes, customer experience, and value. It is the force which drives businesses forward into discovering new possibilities and opportunities. Your customers have gone digital, so your business processes need to be in synchronization with their needs, convenience, and expectations.
For most companies, digital transformation services are probably too complex & time-consuming to handle alone. That is why around 88% rely on third-party providers to make the transition for them. Despite having to rely on digital transformation services companies, lots of organizations still make their tech-savvy transformations more seamlessly and rapidly than ever. Here are the top 05 benefits & reasons why any companies would choose digital transformation services:
Benefits of Digital Transformation: Why go Digital?
Being able to optimize business technology and operations around digital technology means that businesses could save cost-per-transaction and, as a result, increase sales potential. New technologies also create possibilities that can help a company acquire, retain, and assist customers while simultaneously reducing marketing, development, maintenance expense. The SAP Center for Business Insights and Oxford Economics has reported that:
Having the right tech tools or tech partners that work together with your businesses can streamline workflow and improve productivity. Automating many manual tasks and integrating data throughout the organization empowers team members to work more efficiently. A previous article from Savvycom has already discussed on how digital transformation services can help your business cut costs.
The introduction of cost-effective, customer-focused digital tasks streamlines business workflows and eliminates the overhead associated with previous outdated solutions in your businesses. Digitalization gives companies the ability to combine data from all customer interactions and formerly unstructured sources into a useful, actionable format to optimize customer experiences and expenses.
Data has always been the key for any marketing department or business analysis to unlocking customer insights. By better understanding your customer and their needs, you can create a business & marketing strategy that is even more customer-centric. Using both structured data (personal customer information) and unstructured data, such as social media metrics, these insights can help leverage business growth.
Data also enables strategies to provide more relevant, personalized, and agile content.
With the rise of mobile and technology advancements, we’ve seen customer expectations change now and then. The modern customer expects simplicity, yet it still has to match their needs and demands. What would happen if you can’t provide the simplicity they expect? Or what would happen when businesses provide an outdated experience? Then they will likely move on to the next best thing. An article on Forbes reported that 92% of business leaders are developing digital transformation strategies to enhance the consumer experience.
According to McKinsey, the success factors in customer experience in the transformation process are:
Improving the customer experience is one of the big goals of digital transformation. Offering digital tools to your customers will make their lives easier. It makes your business more attractive to potential customers. But, most importantly, it keeps you relevant. Businesses that offer a clunky, outdated experience will have trouble competing with those that stay up to date with modern technology.
Any company that stays ahead of the digital revolution will earn much more authority, trust and respect from customers.
As new technology continues to surge up, the demand for specialized skills will grow in number. To name a few that the future of digital business is looking to be heavily built upon:
One of the newest innovations, which Microsoft recently teased, was Microsoft Mesh: a new technology that enables presence and shared experiences anywhere – on any device – through mixed reality applications. Altimeter’s report concluded that 31% of companies lack digital talent and experience among their workforce and leadership. This situation is inhibited by fear of change; many companies view digital transformation as a huge cost rather than a smart investment in the long term. So they are unwilling to make a change.
By braving the challenge to make a radical change, businesses allow their employees to develop skills for the future and equip their business with either in-house or outsourced knowledge to sustain annual growth and have a competitive edge in the digital age.
COVID-19 gave the business world a surprise agility & durability test. Many were left scrambling; many had to down-size. All of these happen because those businesses didn’t have appropirate tools/processes in place to adapt quickly. According to Statista, as of January 2021, the number of employees being laid off by tech startups amounted to 86,892 worldwide
For other businesses, the move to remote work was relatively seamless. Since they already had the digital tools and processes needed to work from anywhere. By eliminating the dependence on slow legacy IT systems, digitally transformed businesses make themselves more responsive and are quick to adapt to the current market trends and demands.
Simply going digital isn’t enough to push a digital strategy. To realize the full potential of digital transformation, a company must create an environment that facilitates digital accessibility and develops disruptive innovation strategies. Here at Savvycom we provide the most end-to-end digital transformation services that will elevate your business to a new height. We enable companies to re-energize their digital center, navigate the next generation with greater trust and speed, and grow next-generation innovation capabilities.
Why Choose Savvycom as Digital Transformation Partnership[wpdatatable id=9]
Our experts examine the company’s technology infrastructure, processes, and structures in order to maximize short-term success while still ensuring long-term sustainability.
Wanna Train | Fitness Platform | Created By Savvycom
Our full suite of UI/UX services helps brands develop impactful, human-centered identities that engage, excite, and establish relationships with their customers. Check out our showcase on Behance.
How do you pick the best forum for creating your app? Our experts have the digital expertise and mentality to take your project to the next level for any form of app creation.
With the help of our engineers, bridge the gap between people and devices, make the most of IoT technology and influencing global transformation.
We’re dedicated to integrating machine learning’s infinite capabilities with your business objectives. Our services blend years of experience to help you develop AI-powered apps.
To make better business decisions, generate new revenue sources, and win a competition, turn the data into useful, actionable insights.
By updating obsolete systems and troubleshooting problems in real-time, envision advanced possibilities with our legacy modernization services.
By aligning creative solutions to your company requirements, our consultants will help you improve your bottom line and processes.
Contact us for a free consultation on Software Development and you will get all of the insights from our professional technical perspectives. Our Developers will advise you on the best approaches to the development process, as well as roughly estimate your project concept cost.
Here at Savvycom, not only do we help you build software applications as a technology partner, but we also help customers solve business problems and increase efficiency through digital transformation. – allow our clients to provide consumers with an extremely enjoyable digital experience using: Automation, Cloud, Connectivity, Informative Info, and Artificial Intelligence are some of the buzzwords these days.[wpdatatable id=8]
We’ll collaborate closely with you to evaluate the current state of your business application portfolio and pick technologies, then re-engineer the solution using Agile to accelerate rollout. All of this is made possible by a strong business IT infrastructure that allows for enterprise scalability, enabling customers to solve business problems quickly and efficiently.
Companies that successfully implement digital transformation grow faster than their competitors. In each specific case, this process will turn out differently. Appropriate solutions in digital transformation technologies are determined based on customer behavior and your businesses. Those solutions are used to optimize operational efficiency, increase work productivity, and create additional value for potential customers.
All these features increase the company’s profitability and investment attractiveness.
Big Data refers to both structured and unstructured large-volume data, as well as the processing methods that allow distributed information analysis. The amount of data obtained exponentially increases when converting to new technical systems. It requires proper processing in order to produce reports that will enable management to make decisions as quickly as possible. In this context, the ability to get reports in real-time and the ability to organize collaboration is an important advantage.
Cloud technologies are capable of changing existing business models fundamentally. Their utilization provides the ability to flexibly use remote resources to store and process data on-demand, reducing hardware and infrastructure costs. This tool ensures efficient work of teams online and allows storing large amounts of data and maintaining their security at the highest level. Another significant benefit of cloud computing is the cost savings for companies. After all, purchasing in-house hardware is more lucrative only for the first few years after purchase.
AI & Machine Learning & Deep Learning Presentation by Nvidia
For years to come, artificial intelligence will be at the forefront of digital transformation, both for small companies and industries in general. This is an excellent method for automating tasks that require complicated decisions. When combined with current computational power and machine learning technologies, this method can provide analytics on a previously unattainable level. AI has been actively implemented in a variety of sectors, including IT, financial services, vehicle manufacturing, and healthcare, due to its rapid growth and the introduction of new areas of its use.
Microsoft Mesh enables presence and shared experiences from anywhere – on any device – through mixed reality applications
Evidently, business owners have grasped the potential of AR because the proportion of commercial expenses related to this area continues to rise. In the automotive, medical, and marketing sectors, this digital transformation technology is already in use. AR is adept at bridging the gap between the physical and digital worlds, elevating the human-machine interface concept to new heights. “AR is an IoT for people,” formulated a successful definition by a top manager of one of the technology companies.
The Internet of Things refers to a network of interconnected devices that are connected to the Internet and capable of transmitting and exchanging data without the need for human intervention. More and more of the objects we use in our daily lives have built-in sensors that exchange data with other devices to provide the best possible user experience. This digital transformation technology is most active in healthcare, as we speak of wearable products, and makes the task of tracking the health of patients simpler.
A easy and inexpensive way to use the capabilities of machine learning, AI, and other technologies is to use various technical solutions based on API and incorporated into the company facilities’ applications. This approach enables businesses to build a full infrastructure for quickly and cost-effectively completing essential business tasks. API is a versatile and efficient method for incorporating multiple components into a single device.
RPA is gaining traction in a variety of industries, especially in manufacturing. Robotics is increasingly being used for tasks other than repetitive routine tasks, such as analytics and decision-making, which were historically the sole domain of humans. RPA plays an important role in digital transformation by increasing tempo, precision, and organizational productivity while freeing up human capital for higher-level tasks.
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