Digital transformation has become fundamental for businesses that wish to stay competitive and relevant. Digital transformation is the process of using the technology available to change how businesses of all shapes and sizes deliver value to their end-users. Here are several key reasons, that drive digital transformation.
Changing Customer Expectations
The key reasons for any changes in business are usually to benefit a customer base, modern customers expectations are constantly changing and if your competitors are doing it, your customers will be almost certainly expecting the same from you or something better to suit their needs. The chances are if you can’t offer them what they need or expect, they will go somewhere else.
Today’s customers are connected 24/7, and increasing want and expect more and more from the companies that they interact with. According to Gartner, 64% of buyers consider customer experiences more important than price and according to the Harvard Business Review, 73% of customers prefer to do businesses with brands that personalise their shopping experience.
New Technologies
New innovations and technologies have had a profound effect on organisations and the way that they do business. New technologies such as artificial intelligence (AI) and cloud computing are changing the way businesses operate and are creating new chances for growth.
Increased Competition
With customers demanding more convenient and faster results, businesses of all shapes and sizes have had to embrace digital transformation to compete with their competitors, those that do not will be ultimately left behind.
Data-driven Decision Making
Data has become a critical driver for businesses digital transformation. The rise of big data and analytics, organisations can now gather vast information on their customer bases to help them to make more informed decisions. This data can then be used by businesses to drive their innovation and growth.
Changes in Environments
Since the pandemic, the traditional ‘office’ environment changed significantly, with many businesses throughout the UK seeing an acceleration in workers opting for a ‘work from home’ or ‘hybrid’ working agreements. As a result, organisations are looking to adopt cloud based working to support workers and maintain their workforce.
Maintaining and Attracting Talent
As more Gen Z, the generation known for being the first ‘digital natives’ join the workforce, businesses that want to keep top talent will need to invest in digital transformation to create a modern, flexible, and digitally enabled working environment.
In conclusion, digital transformation is essential for any business that wishes to position themselves for success, drive innovation and growth in the digital age and Synapse360 is here to help.
Talk to us today to find out more about how we can help you embrace the modern digital world.
