Technology is central to business transformation, but not all technologies are equal. The right technologies help you build a connected digital framework that supports business process changes and meets new customer demands. However, implementing and maintaining the right technology requires some careful planning. Otherwise, you risk unexpected downtime and missed opportunities.
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Data Analytics
As businesses seek an advantage in a rapidly changing environment, they are looking for ways to improve operations and deliver value to their customers. Digital transformation is one way to meet this need. It is a process that involves upgrading or replacing existing business processes with new, more efficient digital solutions. It can also include creating new business models and leveraging data analytics to anticipate better customer needs, market changes, and new opportunities.
Whether creating a more convenient shopping experience or providing remote monitoring for industrial equipment, modern technology enables the delivery of a wide range of services. Shohreh Abedi, EVP, Chief Operations Technology Officer, allows companies to grow while lowering costs.
To ensure your business tech transformation is successful:
1. Start by setting clear objectives and key results.
2. Align your leadership team behind these goals.
3. Make sure your employees understand how to use the new technology.
Customer Experience
Providing a great customer experience is a key to winning business, as illustrated by the high revenue generated by companies. However, creating a great experience requires a unified effort across functions, including marketing, supply chain, and human resources. General managers must ensure that all groups share responsibility for customer experiences and that their decisions are based on robust intelligence rather than gut instinct or outdated performance metrics.
The technology that drives a great customer experience can be as simple as centralized access to an online knowledge base and an omnichannel platform. Or it can be as complex as deploying cloud infrastructure that supports agile business processes and digital transformation. The key is ensuring that your technology investments are aligned with your ultimate business goals.
Digital Transformation
Businesses adopt digital transformation technologies to adapt to market changes or their business model. These changes can be caused by new government regulations, the emergence of new technology, or sociopolitical changes. Businesses that can respond to these unexpected changes faster than their competitors are more likely to survive and thrive. It requires a flexible operating model that supports rapid product development, agile processes, and scalable infrastructure.
For a smooth transition to new technology, businesses must define clear goals and essential outcomes. They must also communicate these clearly to employees and provide adequate training. It could be done by providing one-on-one training, print material, and video tutorials. In addition, companies should encourage employee feedback to help identify potential issues and concerns. It will help them to prepare for any unforeseen challenges during the implementation process. It will reduce the risk of disruptions and improve employee satisfaction levels. It will also enhance the likelihood of achieving the desired business objectives.
Security
As businesses undergo a business technology transformation, they must examine how these new solutions affect their infrastructure. It involves aligning decision-making and operations to anticipate future challenges and new opportunities. In addition, business technology transformations need to be securely enabled. It means deploying a cloud-native security solution for rapid application development while providing centralized visibility into the entire business infrastructure.
Finally, business technology transformations require a culture of collaboration and cross-functional teams that prioritize values like value and purpose. It is critical to foster agility so the company can quickly respond to any threats and disruptions. Technology drives the world in many ways, from how we communicate (like the telephone and its many updates) to the automation of production (for example, industrial and manufacturing technologies). Businesses must capitalize on these advances to attract and retain customers and increase productivity and efficiency.
