Over the years, our lives have become more digitized as technology has advanced. This means that companies must constantly adapt and transform to meet the latest digital needs of their customers and take initiatives to become more digital in their approach to deliver a better customer experience (CX). From keeping customers happy to building improved digital customer journeys, businesses are under intense pressure to manage customers and retain them amid fierce competition. To achieve this goal, companies across multiple industries across the globe have quickly started embracing digital transformation to stay ahead.
While organizations realize they have to start somewhere to drive their digital transformation journey, they're less sure what tools they need.
That's where Microsoft Dynamics 365 comes in, and its powerful suite provides the right tools needed to make meaningful progress on your transformation journey.
Let's take a deep dive into the challenges companies are facing today and how Microsoft Dynamics 365 can help with digital transformation.
Current Challenges Faced by Growing Businesses
While companies know they need to transform their processes to increase productivity and achieve higher ROI, they face some challenges:
1. Poor quality consistent with standardized practices
Some growing companies do not have adequate standardized practices to ensure quality and productivity. These companies tend to rely on processes built around ad-hoc needs without creating structures in place to simplify them. These companies shy away from considering digital transformation due to concerns about some of the major roadblocks that create potential compatibility and operational issues.
2. A lack of suitable ROI tracking tools.
Many companies find it difficult to understand how business processes affect results, primarily because they fail to properly assess or calculate ROI. Additionally, most of these companies likely do not have the reporting tools and processes in place to allocate future budget allocations to future budget allocations, which include spend and profit-related dependencies, and factors that affect the success or failure of a project or campaign.
3. Customer service-related issues
The entire world is moving towards a more beneficial customer-centric approach that focuses on delivering a positive customer experience to gain a competitive advantage. In the face of changing customer demands, cutthroat competition, price wars, etc., poor sales and service can affect the business. Businesses are even losing existing customers, let alone gaining new ones.
4. Lack of critical data-driven insights
Understanding the customer experience and taking steps to improve it requires insights from critical data. Without these key data-driven insights, organizations may not be able to achieve appropriate results and add value to a product or service. On the other hand, gaining data-driven insights can increase sales, reduce costs, improve efficiency, and also provide what customers are looking for in their products or services.
5. Risk management issues
Running an organization can expose it to unexpected events, data breaches, and product or equipment failures, and businesses need to guard against such potential risks. Businesses need a proper risk management strategy to guard against such events. Also, such strategies should be taken into account when setting goals for the future.
Why Businesses Need Digital Transformation
In this volatile market and changing business environment, organizations should consider embracing digital transformation to stay ahead and stay ahead. Digital transformation is key to accelerating customer experience, improving operational processes to increase productivity, and enhancing capabilities and models. With more digital investments leveraging the latest technologies, business and board leaders can drive innovation and IT teams can focus and excel.
How Microsoft Dynamics 365 supports companies in their digital transformation
Microsoft Dynamics 365 is a cloud-based enterprise software platform that combines some of the most potent software products, such as CRM, ERP, HCM, and Power BI reporting capabilities, into a single integrated package. Dynamics 365 breaks down barriers between data, business, process, and customers to help improve business processes, generate actionable insights, and integrate Microsoft tools of all sizes. The software provides business leaders and managers with critical insights to make the right decisions at the right time.
Let's take a look at some of the standout benefits of Dynamics 365.
1. Include cutting-edge technologies
Microsoft Dynamics 365 integrates new technologies such as Power BI, Azure Machine Learning (ML), Cortana Intelligence, and IoT to simplify and transform business operations.
2. Unify multiple business applications
Microsoft Dynamics 365 enterprise-class business applications such as ERP, CRM and Office 365 enable organizations to leverage these powerful solutions through a single platform.
3. Improve productivity
Having all business solutions and technologies in one place provides flexibility and convenience for solution users, allowing them to quickly access, navigate and find information through a single point of reference. This saves time and increases employee productivity.
4. Adjust business process
With Dynamics 365, users can leverage tools and platforms such as Power Apps and Power Platform for rapid application development to create custom applications and business processes.
5. Improve customer loyalty
Dynamics 365 provides all customer-related information in one accessible place. Businesses can gain key customer insights and deliver enhanced customer experiences based on their interests.
6. Add flexibility
Businesses can respond to the changing needs of customers by leveraging various applications for different roles such as sales and marketing, finance, customer service, and more.
With changing technology trends, modern business models, and the pace of the world in general, companies should start looking for ways to deliver a great customer experience and overcome some of the challenges they face along the way. Microsoft Dynamics 365's advanced solutions, tools, and capabilities enable organizations to drive digital transformation and transform their business.
Chat with our experts to learn more about how companies are using Microsoft solutions to deliver innovative, powerful business applications.