We are working with the MENA market for quite a long & able to help many organizations in their digital transformation journey. While working with this region, we have observed many private organizations and government organizations still stuck with outdated tools to manage their operations in this digital era.
As per Gartner projection, the MENA region is growing with IT spending on digital transformation practice & it is 1.8% to reach US$160 billion in 2020. Spending on enterprise IT areas often associated with digital transformation is rising significantly, with software sales as a service expected to jump by 25% during last year. Spending is expected to jump by 19% to reach nearly US$3 billion for ERP, CRM, and to increase by 12% to hit $1.2 billion for BI, analytics, and advanced analytics (including AI).
Overall, one should understand the importance of digital transformation and why it is needed in the 21st century. As far as the company is concerned, each age has its name. That was the Internet in the 1990s. It was social media at the beginning of the first decade of this century, and now it’s digital transformation. The value that has been accomplished can be seen from the point of view of John Chambers, former Executive Chairman of Cisco Systems: “At least 40% of all businesses will die in the next ten years if they do not figure out how to change their entire organization to accommodate new technologies”. Digital transformation is crucial to companies’ sustainability, not only because of the burden it gives to an organization by increasing its operational efficiency but also because of its potential to encourage an organization to work proactively by taking the right decision.
However, amid such a resounding statement from industry leaders, only 34% of businesses have undergone a digital transformation. Before moving through the depths of the factors behind it and the advantages of digital transformation, it is vital to understand the term digital transformation.
What is Digital Transformation?
Digital Transformation is the method of digitally introducing organizational changes to all future business operations. It’s a way to improve how you work and bring value to customers. It can be seen as a cultural change that allows organizations to question the status quo and experiment repeatedly.
In short, digital transformation involves the analysis and reinvention of most, if not all, areas within an enterprise, including its supply chain and workflow, its employee skills and order management, its customer experiences, and its value to stakeholders. As it deals predominantly with individuals, it starts by inspiring workers with first-hand tools and methodologies to build data-driven strategies and creativity.
How a Digital Transformation Framework Looks Like
While digital transformation looks different to different organizations depending on their needs, there are still some constants in any digital marketing system. Some of them are:
As each system will have its priority and considerations, CIOs & IT Managers should be careful in designing their digital transformation strategy. As a reference point, you should look at the MIT Sloan Guide The Nine Elements of Digital Transformation.
Importance of the digital transformation process
Note that digital speed is five times faster than the conventional industry. Even if you want to be a fast follower, the pace is necessary if not the leader. Digital transformation will, of course, offer you success mainly because of its pace and precision – wildly as digital disruptors are biting at the heels of many companies. Let’s discuss the tremendous benefits that digital transformation can bring to a business and its workforce.
1) Customer Experience:
In an age of too-much-similar-products, it is difficult to distinguish between prime-offerings alone. That’s why customer engagement, on its own, has emerged as a new battleground for achieving a definite distinction. Customers consider this to be the core concept when making a purchasing decision. Stats like 86% of consumers would pay more for a better brand experience to show it unequivocally.
Digitalization will offer a rapid boost to the development of customer service. Through an omnichannel approach, businesses can ensure accurate and real-time contact with consumers. ERP & CRM solutions will help companies streamline their processes and boost customer service and customer experience.
Besides, retailers may use beacons to identify customers precisely in the store and deliver the most appropriate marketing message based on products close to them. Companies at the forefront of digital transformation would gain a great deal of confidence and respect from their consumers.
2) Data-Backed Decision Making:
The simple truth is if you can’t calculate it, you can’t handle it. To ensure that all operational functions work at their level of preference, you need numbers to equate them with standard benchmarks. The use of digital power enables you to monitor metrics and evaluate the data collected during the entire effort. Based on these reliable and timely observations, organizations will refine their strategies and processes for even higher performance. Notice that this will bring about significant improvements in two areas that matter most–expense and revenue.
Improving data-driven insights into consumer behavior trends and multi-point purchasing journeys enables hyper-personalization, relevance, real-time feedback, and versatility. This can be accomplished by using structured personal customer information) and unstructured data (social media metrics) that can be filtered from a significant portion of the data. It can be understood in an example of real life. If you notice that a specific customer purchases product on weekends, you can build a personal message for him on similar lines. It’s not about raising the likelihood of conversion. It also helps to create a unique partnership between you and your customer.
3) Easier Collaboration:
Since digitization makes it easier to access the right information at the right time, the work environment is less hierarchical and disconnected. Enabling companies to rid of the “Us vs. Them” mindset, digitization will become a prime mover of smooth collaboration.
For example, digitalizing the lead generation activities makes both sales and marketing more effective. A sales team can collect a list of leads, and the marketing team can use the lead data to gain feedback and make concrete decisions about the target audience. Likewise, technologies such as CRM can track historical client data related to relationships, preferences, and commitments.
4) Higher penetration of the market:
The only way to reach the unexplored market is through the addition of new customers. It starts by defining the target territory and segmenting it accordingly to sell the latest items. Besides, suppose it is backed up by sound data analysis and real-time access to demographic information. In that case, the whole market penetration phase will become hassle-free – allowing you to enter the market early and benefit from becoming a leader in the industry.
I hope you got an idea about how Digital Transformation can help any organization improve its services & customer engagement. We are here to help organizations that thrive for success & want to stand out in the market. Let us know when you would like to start the transformation journey & how we can help you with the same. Connect with our outstanding team to learn more about our services.
Source:
- https://www.cio.com/
- https://sloanreview.mit.edu/article/the-nine-elements-of-digital-transformation/
About Intelloger
Intelloger is a leading business management solution provider that was first established in 2012. With a group of designers, supervisors, and specialists, Intelloger brags a range and profundity of specialized aptitudes.
Intelloger offices are situated in UAE and India. We provide exceptional business management solutions to a score of public and private associations across different sectors such as manufacturing, engineering, retailing, healthcare, and the wholesale distribution sector, so forth.
Intelloger focuses on delivering IT solutions and consultation services that answer the business and specialized difficulties faced by our customers. Our methodology comprises of joining our involvement in different ventures with our mastery in design & development to enable our clients to achieve their objectives.
We are continually striving towards the best business management solutions provider all through UAE and India.
For any query or Digital Transformation related consultation, drop an email to us at [email protected].
