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5 Signs Your Business Needs Digital Transformation

In this post:

Digital transformation is no longer a luxury for businesses—it’s an absolute necessity. Organizations that fail to invest in digital technology and transform their operations risk becoming obsolete in the ever-evolving business landscape. But how do you know when your company needs to make the switch? We break down the top five signs your business needs digital transformation.

Five signs that you could benefit from digital transformation services and solutions:

Your Productivity Stinks

Issue: Manual operations and outdated processes are inhibiting progress.

An effective, efficient team is critical to your bottom line. If your workforce struggles to meet deadlines, fulfill requests, or hit targets, it is time to address the roadblocks hindering their success. One of the biggest signs your business needs digital transformation is likely the most obvious: overreliance on analog operations.  Analog operations, such as paper document management or manual data entry, are some of the biggest culprits of lost time and data errors. Clunky, multi-step processes that rely on disparate, disconnected systems can also slow down performance. And accessibility issues—from remote office workers struggling to connect to on-premise servers, to personnel in the field unable to access or view information on the road—can negatively impact productivity by inhibiting secure collaboration.

These digital transformation solutions and services can modernize existing processes, streamline operations, and automate manual tasks for improved efficiency:

  • Workflow Automation
  • Data Integration
  • API Integration
  • Data Visualization
  • Application Development

You Aren’t Making Data-Driven Decisions

Issue: Lack of proper data management bars you from gaining insights.

Data is being captured at an astronomical pace that is growing every day. But no matter how many data points you collect, if you don’t have a way to properly store and synthesize that data, you simply cannot make fact-based, data-driven decisions. Common data management pain points include overwhelming amounts of data that are impossible to manage; data coming in from different sources that require consolidation; discrepancies in data and reporting; too much time list to report generation; and the inability to access historical data for trend analysis.  An effective data management system can help you store, organize, and analyze your data, and provide you with an information-rich resource to enable data-driven decision making.

Data management services that can help you gain actionable insights include:

  • Analytics Services
  • Data Integration
  • Dashboards, Reporting & Visualization
  • ETL (Extract, Transform, Load) Services
  • Data Warehousing and Data Lakes
  • Data Quality
  • Data Governance
  • Database Administration

Your Competition is Winning

Issue: User delight is down, impacting customer retention and acquisition

If you are trailing behind your competition, chances are digital transformation can help in a variety of ways. Most directly, digital transformation services and solutions can provide an easier, more accessible way for prospects to connect with your products and services, while also helping to build trust with existing customers. Additionally, lost opportunities due to poor data management and the inability to act quickly to user demands can negatively impact your bottom line.

Digital transformation services that can have direct customer impact include:

  • UI/UX Services
  • Web Development and Enhancements
  • Application Development
  • API Integration

“The point of digital transformation isn’t to become digital.
It’s actually to generate value for the business.”
Rodney Zemmel, McKinsey & Company

You Are Losing Money

Issue: Maintaining the status quo is becoming a financial burden

Operational expenses will always be part of doing business, but an allegiance to your legacy tech or resistance to upgrading your operational processes could literally cost you. Switching from manual to digitized processes can come with obvious savings, from reduced on-premise server maintenance costs to decreased spending on physical document management. But you may be surprised at how much you are losing on legacy tech and existing systems that can be upgraded with cheaper, more effective tools or revamped to serve you better.

How digital transformation services and solutions helped reduce costs for a leasing client:

  • Coretelligent’s digital transformation services team, CoreDTS, helped a financial services client slash the bill of a popular CRM by creating an API in their web application that called on the same data using a different method. This change reduced the number of licenses required to access the data and in turn lowered their subscription cost. Finding unleveraged tools within your existing platforms, such as MS 365, or missing integration opportunities are big areas where money—and time—can be saved.

Your Business Has Changed

Issue: You need to adapt to your new normal

Has your company switched to a hybrid or remote workplace? Have you undergone a fundamental business transformation, like a merger or acquisition? Has your footprint expanded to include new divisions or locations? If any of these situations are familiar, you must adapt to your changing business needs. This includes ensuring remote workforces can continue operations smoothly and securely; ensuring data from merged businesses is strategically consolidated and leveraged; and that your business is prepared for growth and the increased level of data, security, and compliance that may be required.

Key areas of business transformation opportunity can be found in these digital transformation solution sets:

  • Data Management, Analytics, and Business Intelligence
  • Workflow Automation
  • Compliant Infrastructure
  • Emerging Technology

Digital transformation is an essential part of successful business operations. Now that you know the signs your business needs digital transformation, you can take a more proactive approach. By investing in modernizing your organization and embracing technology, you can stay ahead of the competition and continue to remain profitable. Make sure to assess your current systems and processes regularly and invest in new technologies as needed so that you can remain competitive in today’s marketplace. And if any of the signs listed above are present at your company, it may be time to consider leveraging digital transformation services and solutions.

To jumpstart your optimization journey, connect with Coretelligent’s team of digital transformation experts and get started on your path to success.

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