Top Profit Opportunities In Digital Transformation Initiatives
There is no longer any doubt, the digitization of processes and the implementation of new technologies is synonymous with business competitiveness. Keep reading and discover all the advantages you can get by accelerating digital transformation in your organization.
The last two years have put companies to the test; the main challenge was to stay in the market despite the panorama imposed by illness and the radical change in the ways of working. Those who took the challenge understood that the best way to carry it out was by adopting the necessary technological tools to adapt their organization to the new reality; through an appropriate strategy and business models. It was in this way that decision makers saw the great competitive advantages that this digitization process brought with it.
Relevant Learnings And Estimates
Let’s go back to the last two years, the most beneficial for digital acceleration in organizations. Digital transformation is nothing more than competitive advantages, inside and outside companies. Let’s recap some of them:
- Reduction of the digital divide.
- Business connectivity.
- Transparency and visibility of operations, in real time.
- Remote and hybrid work.
- Increased productivity and automation of processes.
- Optimization of response times and improvement of customer service processes.
- Optimization of commercial conditions and increase of sales.
- Sustainable technology, reduction of physical journeys and decarburization.
- Optimization of human resources.
- New digital culture.
- Informed decision making.
Now, the implementation of technological solutions is an investment, not an expense. In this regard and looking ahead, the new IDC Future Scape: Worldwide Digital Transformation 2022 Predictions report states the following:
- Direct investments in digital transformation will accelerate at a compound annual growth rate (CAGR) of 16.5% between 2022 and 2024, accounting for 55% of all information and communications technology (ICT) investments by the end of 2024.
- By 2026, 54% of CIOs will drive business transformation, empowering digitally resilient organizations, through strategic technology road maps, to enable an agile, collaborative, data-driven workforce.
- By 2023, 1 in 2 businesses will generate more than 40% of their revenue from digital products and services, compared to 1 in 3 in 2020.
- By 2025, companies with cross-functional leadership and a digital team will enjoy faster innovation rates and higher profits, as well as greater operational efficiency than their competitors.
These estimates translate as a response to the new demands and needs of the market, as well as the importance of generating digital experiences for the end user.
Now, how to measure these advantages in your digital transformation process and initiatives? In this regard, Gartner proposes that CIOs ask themselves the following questions to get off to the best start: Is your digital ambition to optimize or transform? What are the key stages and activities? Which leaders and teams should be involved? In this way, you will be able to trace the route towards the digitization that your company needs.
As you can see, digital transformation is a window of opportunity to increase profits, increase your profitability considerably and face the new technological challenges that arise every day.
In transforming our clients’ processes and speeding up the adoption of new technologies such as Artificial Intelligence, Big Data, Cloud, among others, which can be the spearhead of the success of organizations.