What is digital transformation?
As technology continues to advance at breakneck pace, businesses like yours need to find new ways of operating.
Meeting modern expectations means organisations must adapt to new technology wholeheartedly, using it to challenge established practices, experiment with new business models, and respond actively to pressures coming from new technology and downstream market effects.
Some businesses focus on customer journeys while others concentrate on adopting new internal systems. However, any digital transformation programme is likely to affect a range of your critical business processes. As a result, it’s important to ensure that operational challenges are met and managed quickly.
At FLOvate we have the experience and tools to ensure that your digital transformation initiative starts a revolution within your organisation by pursuing these primary goals:
- Improving customer experience
- Establishing operational agility
- Transforming culture and leadership
- Workforce enablement
When your organisation’s systems and procedures can no longer keep up with the pace of change – that is the time when the opportunity for digital transformation should be seized.
Digital transformation strategy for your business
Transformation can’t be achieved without an element of risk, so it’s important to alter what you need to in a controlled way – with your business firmly in charge. When planning for digital transformation, the initial changes can be relatively minor. Often, the potential for making more large scale improvements is demonstrated by the value of these small but critical changes to your operations.
If your organisation continually adapts its products and services, regularly adjusts to its market(s), and manages to reliably grow the size and value of its customer base then you may not need to transform.
Most business leaders should do everything in their power to embrace the change, however.
Providing customers who interact with your business with a seamless, positive experience is no longer just a ‘nice to have’ in an increasingly competitive market.
Because digital transformation requires fundamental change to your business – in the way it operates as well as the way it serves customers – the initiative may analyse every function of the organisation from human resources, finance and purchasing through to sales and marketing or general operations.
Fortunately the potential upsides for opportunities, revenues and profits are dramatic. Research shows:
- Companies embracing digital transformation are 26% more profitable – MIT Center for Digital Business
- Executives predict nearly half of their revenue will be digital-driven by 2020 – Forrester Research
- 20% of market leaders will lose their #1 position to mainly digital competitors founded after the year 2000 – Gartner
“In today’s era of volatility, there is no other way but to re-invent. The only sustainable advantage you can have over others is agility, that’s it. Because nothing else is sustainable, everything else you create, somebody else will replicate.” – Jeff Bezos, founder of Amazon
Implementing a digital innovation programme
Your digital transformation initiative needs the support of your organisation at large in order to make it a success.
Leaders within your business should work together to prepare. It is essential that all aspects of the business are consulted to ensure a smooth transition as workers and managers adjust to relying on unfamiliar software and hardware. Furthermore, executives must be ready to passionately empower employees to innovate and create new solutions for the organisation.
How FLOvate can help
Digital transformation can be a significant undertaking with extraordinary consequences. We’re here to help companies embrace the world of working digitally and to reap the benefits. We specialise in understanding your processes, consumers, markets, new technologies and what’s going to happen next in the world of business.
Once your organisation is on board with the programme, we can step in and use our professional business solutions expertise to design your solution by examining…
- How to improve customer experiences
- How to account for the impact of digital competitors
- How to account for the impact of adopting emerging technologies
…among other things, depending on the precise needs of your company.
By working with you to develop a full understanding of your business’s products, services, procedures and customers we can help you to anticipate what’s coming and evolve to meet the challenge ahead of time.
Whatever the case, we won’t be satisfied until you are fully engaged in developing new tools and modernising legacy systems in ways that will drive organisational agility and flexibility, helping you to meet existing and potential customer expectations.
Contact us to find out more about how digital transformation might work for your organisation.
Executing a digital strategy using LEAP Low-code technology
Offering the ability to quickly and easily develop purpose-built software applications – without the need for any kind of specialist coding skills – Low-code platforms directly encourage businesses to respond to procedural, market and customer needs.
With Low-code platforms the workforce is made more agile, innovative and competitive, ultimately able to:
- Quickly develop and deploy apps using intuitive, visual interfaces
- Connect new apps to existing and external systems
- Deliver software experiences, on mobile and web, which are both functional and beautiful
- Extend and modify existing software without coding experience
- Use built-in features to ensure the safety and security of applications
- Easily scale applications to meet more complex or high-volume requirements
The platform’s powerful functionality allows you to build and integrate processes or systems that need addressing as your business requires. Applications can be as small or large in scope as your business and its employees need, built to automate workflows or improve staff productivity, for example. Many organisations will design applications to address processes and workflows that never had a formalised process to begin with!
It can be hard to predict what your business’s future operational needs will be, so a platform that is prepared to handle all potential functionality and outcomes means you are not purchasing a final solution, but one that will evolve continually just as your business does.
Or read our case study demonstrating what LEAP achieved for the claims management industry.