3 Reasons Why Companies Need Digital Transformation
Remote Working
The thought of remote working for companies has traditionally been a challenge; such as the cost and security implications for it’s IT infrastructure to support teams to work from home, managing high-levels of customer service for outbound and inbound sales and service teams, or the HR challenge of keeping employees engaged, motivated and challenged so productivity levels aren’t negatively affected.
In 2020, the Coronavirus forced companies to remote work and the era of working virtually, using platforms such as Teams and Zoom for communication, became the norm. It proved that business could continue ‘as normal’ for many of us.
Whilst some employees have been looking forward to returning to the office in 2021, the pandemic still remains a major threat and we are seeing large organisations now embracing remote working through a digital transformation programme, for the vast majority of their operations, so they remain agile and embrace the long term benefits, such as reducing overheads by scaling back or closing expensive offices in prime locations.
Profits
This major structural change in how we traditionally understand business to operate is also creating a competitive advantage for those who choose this path.
The SAP Center for Business Insights and Oxford Economics report says:
80% of organisations that have completed digital transformation report increased profits
85% say they have increased their market share
On average, leaders expect 23% higher revenue growth than competitors.
Survival of Business
Digitally transforming your business will not only allow your business to be more competitive in the marketplace, but it will make it harder for your competitors to survive unless they have a truly unique offering, and as McKinsey concludes in a recent article: “an inability to connect all parts of the organisation to share data, expertise, and talent can be crippling.”
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