In a landscape of uncertainty and rapid change, companies must adapt very quickly. Without a doubt, businesses that can move forward with digital transformation at a fast pace -but also reliably- will be able to gain a key competitive advantage in the market.
Regardless of what industry your business belongs to, digital transformation can optimize processes, reduce costs, and improve customer experience. Therefore, it is important to advance this process at a good pace to achieve new business opportunities, adapt to customer needs, and thrive in a year of economic challenges.
Therefore, our team has developed a 10-step plan to accelerate digital transformation processes. Let’s go!
10 Steps to Accelerate Digital Transformation:
Here are the best practices that will let you accelerate digital transformation in your organization:
1. Define the problem you’re trying to solve
For digital transformation to be effective, the process must be aligned with the company’s business objectives. If your goal is to increase sales, you should first think through each step of the process strategically. It is critical to define the KPIs to ensure that everyone and everything involved is on the same page to achieve the goals that have been set.
It is also important to keep in mind the obstacles we will face, such as the skill gap, the IT resources available, and the cultural legacy of the company.
2. Have the customer in mind
If your company works with customers, one of the main objectives will be related to increasing the customer base and providing them with a better service or product.
Digitalization provides businesses with excellent tools to analyze customer consumption patterns and even satisfaction levels. Therefore, it is a great opportunity to take the leap and give customers what they are looking for through data analysis and the application of AI.
In the case of financial services, for example, companies can give customers more control over their experiences as the trend among users is self-service and contactless experiences.
3. Make sure everyone is on board
One of the elements that can cause delays in the process is resistance to change. For many employees, it can be difficult to deal with many changes at the same time, so they can become demotivated or frustrated at times. Remember that while some processes can be automated, others will continue to be performed by people. Therefore, you need to make sure everyone is in the same boat.
According to Oracle CEO Safra Catz, “The hard thing about these transformations isn’t the technology. It’s the sociology.” Teams need to be prepared for change so that they are not caught by surprise and the adverse effects are worse. People should be provided with all possible tools so that they can increase their knowledge and skills needed to use technological solutions.
It is also important to get feedback from employees about workflow hurdles, broken processes, and information gaps. Allowing employees to be part of the strategic part will increase the chances of success of the digital transformation.
4. Hire the right talent
To drive digital transformation it is important to have the right talent, as skill gap is one of the main barriers to innovation and transformation.
Having experienced and technically savvy professionals will make it possible to get the most out of technologies and to do so in a safe and agile way.
5. Improve your decision-making by using data
Data analysis eased by digitization involves a series of tools to use the data generated to develop insights that improve business decision-making.
They also provide predictive capabilities based on customer consumption patterns. For example, in the case of online stores, the clicks made by the customer allow suggesting related products that are usually consumed together.
With the large volumes of information that can be obtained from web traffic or social media, it is possible to optimize the customer experience and gain an important advantage.
6. Incorporate automation (but consider where)
Many repetitive processes and tasks can be automated to avoid human errors and reduce the time involved, empowered by AI. However, it should be clear that some complex tasks still need to be performed by people as they can limit innovation capabilities.
Automation, through different ERP or CRM platforms, allows for synchronization of all customer or company data to achieve comprehensive management, improve decision-making, streamline sales processes, better understand consumption habits, and reduce human errors.
7. Think about the technology that best fits
It would be a mistake to start the digital transformation process without considering the technologies that would best fit your organization’s needs.
A good practice is to hire a Nearshore service provider that offers expertise in the technology stack to get the best results from the implementation of technology solutions.
8. Don’t neglect security
The integrity of sensitive data of companies, but also of customers, is undoubtedly one of the challenges for 2023. It is important to invest in cybersecurity specialists to prevent and avoid possible attacks and their consequences for the business.
9. Develop a digital transformation governance system
The digital transformation must have an adequate governance model that strikes a balance between the company’s values and the innovative technologies that allow the best possible decisions to be made.
10. Hire digitalization specialists
Hiring an outsourcing vendor can be a competitive advantage because they have experience helping organizations accelerate digital transformation processes while reducing costs in the technology budget.
What were the factors that made the difference in accelerating digital transformation in 2022?
According to a report by McKinsey, companies that achieved a successful digital transformation have taken these aspects into account:
- More risky strategies: They use digital technology to achieve strategic differentiation based on customer engagement and innovation, rather than cost efficiency.
- Development of proprietary assets: They prioritize in-house software development over off-the-shelf software.
- Focus on improving the integration of people with technology: They are not only concerned about technology but also about how employees and executives incorporate it into their daily lives.
Why Nearshoring can help!
Hiring a nearshore partner is a smart move, as you will be able to accelerate digital transformation processes with confidence by having the help of specialists in digitizing companies and preparing them to make a leap in productivity and improvements in customer service.
It will also allow you to have the best developers for the technologies you select for your organization, in the shortest possible time.
By being able to hire talents and consultants from regions of the world with less expensive salaries, you will be able to get great talents (in untapped markets), while you can optimize your technology budget. Especially in comparison to what is spent on hiring programmers for in-house projects.
During 2023, modernization will be one of the challenges for companies, and doing it at a considerable pace can be the difference between leading the market or being left behind. Moreover, in a year of economic instability, it is important not to compromise the organization’s finances by overspending, or even making the wrong decisions that can lead to extra expenses and disappointing results.
Therefore, if you are looking to accelerate digital transformation, with confidence and at a reasonable cost, it is a great alternative to consider hiring a nearshore provider. At Inclusion Cloud, we have +16 years of experience helping companies reach the next level and achieve digital innovation.