4 Reasons Why your Business Needs Digital Transformation
When digital transformation is done right, it’s like a caterpillar turning into a butterfly. – George Westerman, Research Scientist (MIT Sloan Initiative on the Digital Economy)
Digital Transformation is a robust inward and outward facing strategy adopted by companies to streamline operations and reduce costs. According to Markets and Markets, a leading market research firm, the global market for Digital Transformation is poised to grow at a CAGR of 18.1% and reach a size of $665 billion in 2023 from its 2018 size of $290 billion.
Powered by leading Enterprise Platforms and custom-built solutions, Digital Transformation seeks to enhance customer experience, streamline collaboration between different verticals and employees, and create a single point of truth for sales and extended business networks.
One of the critical aspects of Digital Transformation is customer experience, most organizations are now working towards providing a uniform omni-channel experience to customers, and thereby improving brand visibility.
Enterprise Portals form the crux of Digital Transformation offerings that aim to improve experience for various external and internal stakeholders, whether customers, employees or partners.
Enterprise transformation often begins with conducting a design thinking workshop or assessment that presents the organization with a clear view of gaps in the processes and how those gaps can be plugged using a combination of web based solutions such as Enterprise Portals, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Human Resource Management Systems (HRMS), and so on.
The Following Are The Benefits Of Digital Transformation For Businesses:
1. Improves Customer Experience
The most important outcome of digital transformation is companies developing a better connect with its customers. As a term, Customer Experience is being used to depict overall interaction of the customer on your digital assets, be it Web Application or interaction with Customer Support teams or Chatbots.
A recent insight into Digital Experience as a result of Digital Transformation implementation have revealed that 91% of the customers on your Web-based Channels would prefer complaint or grievance resolution via self-service portals and knowledge bases.
Also, Customers now expect cross-platform mobility in terms of interaction with customer support teams. Creating a unique demand for Omni-channel experience across platforms. Recognizing the value of a positive customer experience and changing dynamics, we at KNOWARTHhave devised a scientific approach for enabling Design-led Engineering where our team of UX Designers and UI Developers work towards creating engaging & information customer-centric experience.
We enable companies in rapid adoption and implementation of new technologies and help them better understand the preferences and behaviour patterns of their target segments and in-directly shaping their future Go-To-Market strategies.
2. Enhances Ease of Work for Employees
In today’s changing digital age, companies are increasingly integrating digital technology in their day to day operations. With focus on improving Ease of Access and Work, organizations are now able to manage employee productivity, effectively manage HR Ops and Improve Collaboration.
With this the operations are now largely paperless and employees are using Intelligent Project Management Systems and Integrated Employee Portals to track and manage their workloads better. Such systems provide better visibility into Employee Performance, Regional Business Performance, Partner & Vendor Management and Inventory Status.
KNOWARTH Enterprise Solutions such as Custom Portal Development, ERP Implementation, Custom CRM Development, HR & Learning Management Solution and Enterprise Mobile Apps helps enhance customer experience, improve productivity and increase collaboration. Moreover, such enterprise software systems help to cut down the amount of time employees spend on unproductive tasks, thereby increasing per-employee throughput.
Digital Transformation is effectively incomplete without there being an effective way to collect, analyze and visualize data. Moreover, companies are able to build relevant data-sets resulting in improved customer experience, enhanced engagement and better acquisition. With Digital Systems and use of high-grade Open Source Technology, KNOWARTH delivers custom-built data analytics solutions powered by BigData.
The BigData powered solutions can be integrated to existing applications as well as in-built into customized applications. These solutions help organizations chart a data driven path to growth.
4. Improves Operational Efficiency and Enhances Profitability
A streamlined information flow within the organization enables employees to produce a collaborative effort with streamline internal communication channels and better productivity. Enabling organizations adapt their business strategy for improved operational performance and reduced TCO.
KNOWARTH has always striven to enable its clients to achieve Process Excellence by driving continuous process improvement using a combination of custom-built solutions such as Intranet & Collaboration and technologies such as Liferay DXP and RPA. Ensuring performance of legacy application and existing systems via Performance Tuning & Assessment is also a critical aspect of business continuity and overall process excellence delivery by KNOWARTH.
By helping companies enhance their process efficiency, we help them achieve reduction in the cost of operations, which consequently translates to a higher degree of profitability for the company.
Thus, undertaking the digital transformation exercise is bound to deliver multiple, far-reaching benefits to businesses. From helping in reducing running costs, streamlining operations, and empowering employees to deliver more productivity, to enabling businesses to better understand their target customers and striking a closer relationship with the customers, digital transformation is clearly something that will impart a huge competitive edge to a company.
https://www.knowarth.com/wp-content/uploads/2016/08/SaaS-based-Big-Data-Analytics-Solution1.jpg6571920Chintan Mehtahttps://www.knowarth.com/wp-content/uploads/2020/09/knowarth-anblicks-white.pngChintan Mehta2016-08-03 18:06:422017-01-30 14:52:26SaaS based Big Data Analytics Solution