BUSINESS TRANSFORMATION
From Traditional to Digital: Navigating the Business Transformation Journey
In this modern era of widespread digitisation, businesses must embrace contemporary technologies across all aspects of the organisation to stay relevant and competitive. Proper application of the various digital tools available today can unlock opportunities for growth, optimise operations, improve customer experiences, and meet the changing requirements of dynamic markets. This blog will delve into the benefits of modernising business processes and practices and highlight the best strategies for digital transformation.
Below are the chief benefits of undertaking a successful digital business transformation.
Better business agility
Incorporating modern digital technologies can help businesses become more agile. This increased business agility enables businesses to adapt to changing conditions in today’s uncertain and unpredictable world.
Utilisation of data
Today’s digital ecosystem generates massive amounts of data on a daily basis, and organisations that don’t adopt modern practices and processes can’t utilise this data to its full potential. Digitisation offers the opportunity to efficiently gather, store, and analyse this data on a large scale and use insights gained from this data to craft future business strategies.
Improved customer experiences
The digitisation of customer data allows businesses to better understand their target audience, their requirements, and their expectations. Modern technologies allow organisations to better access and understand this customer data and build better customer experiences based on the insights learned.
Key areas and strategies for digital transformation
This section will look at the primary areas that organisations need to focus on for a successful digital business transformation.
Business process transformation
An organisation-wide process transformation involves reviewing existing business processes and modifying them with the aim of achieving long-term goals. A thorough business process transformation extends to incorporating new technology to modernise various processes, systems, and practices across the organisation to boost performance, improve efficiency, and better integrate core systems.
Business model transformation
Moving from traditional business models to modern, digital business models opens the door to new growth opportunities. Common examples of successful digital innovations include the numerous video and music streaming services that rely wholly on today’s growing digital infrastructure and the many taxi aggregators that allow consumers to book rides via mobile apps. Businesses must rethink their business model going forward and use digitisation to grow and expand their services.
Domain transformation
Access to new digital technologies, processes, and strategies has made it extremely easy for businesses to redefine their offerings and create value by expanding into new domains and industries. The incorporation of new technology opens the doors to numerous opportunities for expansion, and businesses must be quick to grab these opportunities to enter new domains, thus creating new value.
Cultural digital transformation
The journey to a digital transformation extends beyond the incorporation of new technology or processes and encompasses the organisation’s internal values and culture. An effective transformation requires that all employees have a clear vision of what the modernisation is trying to achieve and efficient collaboration between teams to seamlessly understand and adopt new methods and processes. The cultural aspect of a digital transformation is extremely important to ensure the organisation-wide adoption of digital technology at all levels. Hesitation to do so can result in reduced productivity, lost revenue, and, ultimately, a failed digital transformation.
For organisations on the digital transformation journey, agility is key in responding to a rapidly changing technology and business landscape. Now more than ever, it is crucial to deliver and exceed on organisational expectations with a robust digital mindset backed by innovation. Enabling businesses to sense, learn, respond, and evolve like a living organism, will be imperative for business excellence going forward. A comprehensive, yet modular suite of services is doing exactly that. Equipping organisations with intuitive decision-making automatically at scale, actionable insights based on real-time solutions, anytime/anywhere experience, and in-depth data visibility across functions leading to hyper-productivity, Live Enterprise is building connected organisations that are innovating collaboratively for the future.
How Infosys BPM can help
Undertaking a thorough digital business transformation can seem extremely challenging, and the Infosys BPM digital transformation business process can help streamline and simplify the entire process. These services employ a variety of tools and accelerators that are tailor-made to generate actionable insights resulting in a meaningful impact on the business.
The Infosys BPM design thinking approach takes into account the specific issues a business, its employees, and its customers may face before applying unique techniques and creative strategies to achieve the desired results. The business transformation services use modern digital solutions, insight-driven navigation, and automation to create sustainable digital business transformations based on the industry and an organisation’s specific requirements and goals. Reach out to know more about how Infosys BPM can help guide your business's journey to a digital transformation.
