5 Pillars to successful Digital Transformation for SMBs
March 17, 2022 | Digital Transformation, Service, Technology, Trends | No Comments
Introduction
Whether your business has just begun or has already been supporting your customers, identifying the right technology solutions to keep your business moving forward is vital to your survival and success. When it comes to small businesses particularly, it’s important to optimize the technology resources at your disposal.
We at, Great Innovus, are fully aware of this and have been helping customers like you across industries including eCommerce, ISC, and BFSI to achieve their business goals. Through a combination of solutions, and services we have been enabling enterprises of all sizes, to run efficiently and improve their business outcomes.
Today, more than ever, we all have realized that technology solutions are the foundation for practically any type of business, right from small startups to enterprises. Regardless of their vertical, businesses are looking for the right technology solutions partner who can relieve them of the IT worries and let them focus on their core business.
Technology solutions are needed across a variety of functions within an organization including production, management, data analysis, and business processes. Simply put, this infusion of technology into your everyday work is what is called as Digital transformation.
Digital transformation is now the most talked-about thing among businesses today. According to a Google-KPMG report, digitally enabled SMBs boost their profits up to twice as fast compared to their offline competitors. Digital transformation empowers businesses to optimize their operations, expand their customer bases, and improve their top, bottom line growth.
Digital Transformation – Where to Start
At the heart of digital transformation initiatives is data. Many organizations tend to have the data in silos and in multiple formats that need considerable manual effort to collate, consolidate, and analyze before a meaningful business decision can be made.
The time of business owners can be spent more efficiently, if they have a better view of operational efficiencies, customer expectations, market trends, and competition landscape. With stiff competition in every segment, it is important for businesses to get ahead of the curve with data-driven decision-making process.
Large businesses have been investing in digital technology solutions to improve their business functions and further their dominance in the market. Be it business process automation, or predictive analytics, modern organizations are digitally driven, and it's time that SMBs too transition from their traditional form of operations.
Traditional organizations have been depending on basic tools like spreadsheets to capture, analyze, and report data. But the advancements in technology and customer expectations demand that businesses adopt technology and offer state-of-the art services to the customer.
The first step towards digital transformation for your business is to start discussing about it with your core team and identifying the existing pain points. Also, you need to identify the list of business processes that need to be digitally enabled and prioritize them based on impact.
Some questions to consider would be:
- What areas are affecting my ability to reach the critical business goals?
- Which of the operations consume more time and effort?
- Which of the processes can be technologically updated?
- How is my competition doing it?
The Why of Digital Transformation
Once you have answered these questions and analyzed the answers, you will have a clear index of the areas to go digital and the order of implementation, based on priority. Typically, SMBs tend to have the following reasons, for their digital transformation initiatives.
Cost Efficiencies
Businesses invest in digital solutions to optimize business processes and automate where possible, resulting in optimizing cost. Priority should be accorded to breaking down silos and ensuring that internal departments collaborate seamlessly. An enterprise dashboard could provide deep insights on the functioning of various internal departments and indicate opportunities for growth.
Operation Excellence (OpX)
Operational excellence means that an organization that conventionally performs its core activities transforms into one that performs value-driven activities efficiently, based on relevant data. Digital transformation helps businesses achieve operational excellence and move towards a more autonomous operation. Advanced analytics, AI, and ML solutions can offer real-time understanding of the current condition of your equipment and predict its future performance and potential issues. Such a system not only helps preempt downtimes but also meet customer commitments.
Business growth
Technologically enabled businesses alone, are better placed to compete and grow in the present-day market. Without adequate technology infusion, growing in scale will be a huge challenge for organizations. Digital transformation helps break the physical and geographical boundaries for organizations to grow rapidly. For instance, offering your product/service in a hitherto unserved geography can be realized with a robust ecommerce solution.
Organizational Productivity
It’s important that all your business functions communicate with each other seamlessly. When your business applications (e.g., Marketing, finance, HR, customer support) are interconnected digitally, you turn them into efficient systems. It not only enhances cross-collaboration but also build a customer-centric
How can Great Innovus help you?
Having been in the business of technologically transforming business for more than a decade, we understand the customer problems and pain points very clearly. Our solutions are custom-designed to suit each customer. We have built deep expertise in digital transformation across the entire value chain in ISC, Healthcare, BFSI and other verticals having collaborated with many customers in these segments for a long time.
What do we offer?
At Great Innovus, we enable businesses in making the best use of digital technologies to expand their capabilities and accelerate growth in today’s digital economy. We collaborate with our customers to reimagine their business operations through scalable, business-aligned solutions that are future-proof.
Our bouquet of services includes designing and building solutions for business process automation, Cloud transformation, custom eCommerce, and IoT.
Why choose us?!
Strategic solutions – We believe in delivering long-term value to our customers and hence always start by understanding our customer vision, goals, and roadmap. Our solutions are then designed to deliver maximum value through the journey.
Efficient solutions – We quickly understand your business and decide what changes can be made to technology and processes to deliver efficiencies.
End-to-End solution – We have the necessary skills to conceptualize, design, develop, deploy, and support technology solutions that require niche skills and extensive experience.
Focus on your core – We let you focus on your strategic business objectives while we own the technology part of it.
Click here to Get started with a custom technology solution for your business.
