Digital Transformation Helps Businesses Remain Competitive. No matter the size of your company, advances in technology are changing the way you interact with your clients, as well as how you connect with your business partners and team members. Offering excellent service and a superior product is no longer enough; you also must be able to provide the convenience the public expects in a digital world. It’s time to embrace digital transformation.
There are many influences driving the push for digital transformation. Technology has changed the ways that people interact with family and friends, and it’s expected that businesses keep pace. The workforce also no longer necessarily operates within the four walls of your office building, yet collaboration and networking are still foundational in your market.
Even if you recognize the trends shaping the need for the shift toward digital, you may still be making the mistake of thinking that this change is necessary only for big corporations. A recent IDC survey of SMBs found that while close to half of companies with between 500 and 999 employees said that digital transformation will play a significant role in their company’s success, only about one-third of companies with fewer than 100 employees responded similarly, putting SMBs behind the curve.
If this sounds familiar and you’re not convinced that the move to digital could impact the survival of your company, here are a few considerations you may want to keep in mind:
SMBs report significant return on investment following digital transformation. The IDC survey found that investment in technology had a nearly universal payoff. Four out of five SMBs that prioritized digital investment experienced increased sales, improved employee productivity and reduced costs as a result of the changes.
Don’t get bogged down by the term. Digital transformation can be broken down into smaller steps. Digital transformation means incorporating any number of technologies to improve your processes and your bottom line. It can be the implementation of a cloud solution, for instance, or a networking and collaboration tool that speeds up communication among your team members.
Implementing digital solutions powers your growth. When you started your business, you likely had a few simple processes and didn’t require a lot of streamlining to keep up with demand. As you grow, digital resources help you scale to the demand and refine your processes for improved profitability. Don’t wait until your old software and other resources start showing their inability to keep pace. Invest in digital in order to open up a path for growth.
ERP isn’t just for big corporations. As you digitize your processes, you’ll realize significant improvements in your profitability. Some SMBs believe that solutions like enterprise resource planning (ERP) are a big corporation need, but a big change like this in a smaller company can serve as a springboard for significant process improvement, growth and cost reduction.
Are you still feeling a little unsure about what digital transformation would look like in your own company? At eXemplify, we regularly work with companies like yours to transition them to new technology in an effort to boost growth and profitability. Give us a call to talk more about getting the most out of your Verizon solutions.