8 Benefits of Digital Transformation
C-Suite executives across the globe look at digital transformation as the ability to make better use of data, the key enabler of informed decision-making, and a sustainable opportunity to augment organizational revenue.
These factors make digital transformation a critical agenda for companies worldwide, to which the Japanese ones aren’t an exception. Japanese companies are rapidly embracing digital transformation. As per a report published on Bosch, a few years ago, Japan held a position among the top five nations with the highest digital transformation pace.
(Data Source – https://blog.bosch-si.com/digital-transformation/asia-leads-the-world-in-digital-transformation/)
Although the current benefits of digital transformation revolve around the above three benefits, this blog explores a few others while elaborating on the fundamental ones. Additionally, it also acquaints you with FidelTech, one of the best digital transformation companies in Japan.
7 Advantages of Digital Transformation
Digital transformation involves the integration of digital technologies into various business areas. In other words, it is the digitalization of business workflows. As a result, digital transformation refers to higher efficiency and better value from the renovated processes. Overall, it signifies an approach that increases the relevance of an organization in the current business context and strengthens its positions through various abilities.
1. Improved Data Collection and Usage
Businesses generate millions of tons of data every day. If not used at the right time and appropriately, the data remains hidden somewhere or is lost into a black hole. As a result, decision-makers are left with no option but to leverage their instincts to run the business. Such an instinct-based approach proves short-sighted, as the likelihood of success with such decisions is very less. Eventually, such companies lose competence.
However, although lately, fortunately, business owners have started to realize the significance of digital transformation and the various technological capabilities that it brings to the table. One of the most critical ones is the ability to collect vital business data, process it through various tools, and then use business-ready insights to make informed predictions and prepare the company for uncertainties and opportunities.
2. Data-Based Customer Insights
Digital transformation and the associated developments have put customers into the driving seat. So, today, it is customers that drive the business. In situations like these, and given the dynamic nature of consumers, businesses need data that allows them educated insights into customer behavior, demands, trends, etc. In a way, digital transformation enables companies to create customer-specific strategies to meet their demands and retain them.
Additionally, data leveraged through digital transformation enables companies to create more relevant, personalized, and agile content aimed at augmenting prospect engagement and driving sales.
3. Enhanced Customer Experience
Of course, products and services do matter. However, factors such as customer journey and the overall experience concerning a particular brand prove equally significant. It is because customers have numerous options today. They have insights ready with them and have easy access through the internet. So, whichever brand they deal with, they look forward to an incredible customer experience that places them in the center.
Digital transformation, with several elements, for example, prompt customer service through automated Chatbots, personalized content facilitated through data analytical tools across various online platforms, helps companies enhance the customer journey and thus improve customer experience.
Customer experience has become crucial to the extent that, as per a Gartner report, over two-thirds of companies compete mostly on customer experience. And, in 2020, the number is slated to increase to a whopping 81%! (Data Source – https://www.gartner.com/en/marketing/insights/articles/key-findings-from-the-gartner-customer-experience-survey)
4. Informed Decision-Making
Situations like the pandemic are an exception. However, making near to accurate projections concerning market uncertainties, ups, downs, industry direction, etc., is possible when you dig into historical data, process it, and leverage tools such as Predictive Analytics. Digital transformation enables a view into the future, know what the future holds for your business, and what may transpire across the industry level.
In other words, digital transformation enables informed decision-making through tools and technologies that use historical and present data to help companies devise strategies effective for profit-making, sustenance, and outperforming competitors.
5. Augmented Productivity
Digital transformation involves integrating a set of business-specific software supporting various business verticals such as finance, HR, core operations, marketing, strategy, etc. Additionally, it refers to automating business functions to help augment organizational productivity and utilize resources for better and more productive tasks such as strategy, process improvements, etc.
6. Increased and Sustainable Profits
The benefits of digital transformation resemble a series that help companies in the journey toward achieving increased and sustainable profits. And, that’s quite evident. Companies that adopt digital transformation steadily and accept disruptions as the way to make changes work to their business’s benefit and further augment profits through enhanced efficiency, better decision-making, and resource management. It is these factors that further contribute to sustainability and relevance amidst the highly dynamic and demanding age.
7. A Continual Improvement Approach
Digital transformation isn’t just a technology initiative but an approach that involves using technology to foster continual learning and improvement. Adopting digital transformation, therefore, refers to instilling a culture that bolsters continual development and improvement in work processes, learning from the past, and creating a better, more sustainable, and more productive future.
Besides, digital transformation, with its technological capabilities, allows businesses to explore possibilities, tap them, and further capitalize on them with the right and informed business strategies.
FidelTech – Your Partner to Comprehensive Digital Transformation in Japan
Headquartered in Tokyo, Japan, FidelTech is a leading digital transformation partner in Japan. The company helps businesses adopt digital transformation steadily and step-by-step through customized digital transformation strategies. It identifies the right digital transformation tools to optimize the journey towards digital transformation and helps execute them correctly to derive maximum value from it.
Fidel’s digital transformation proposition involves technology consulting, IT infrastructure management, customized software development, etc., to optimize the benefits derived out of digital transformation. For more information and discuss digital transformation solutions specific to your business, connect with FidelTech at 03-6261-3309 or write an email to salesfidel@fideltech.com.
Ref. No- FTB06211129