How do companies benefit from Digital Transformation?
The businesses today lie at a crucial intersection, where humans along with technology and business need to come together for creating a better and more productive world for the future. The term “Digital Transformation” seems to be omni-present across all the industries. It also makes it crucial for various brands, businesses and individuals in the same manner.
The businesses and brands today need to reimage their businesses models in order to stay agile, resonate better with their customers and also stay competitive in their relevant industries. The steps taken by them today will give a hint of what future would look for the concerned firm.
What are some barriers to Digital Transformation?
Some of the top barriers faced but the firms towards digital transformation could include-
- Data privacy and cybersecurity
- Lack of right set of in-house skill sets
- Changes in regulations or legislative
- Weak digital governance
The businesses need to take countermeasures and steps in order to overcome these challenges, with a threat of being outmanoeuvred by the nimble and innovative players present.
Key Figures towards Digital Transformation- (as per 2018 Vanson Bourne Study)
- Significant increase in organizations focusing on IT and business collaborations (up by 45% v/s 2016) and skilling (up by 35% in 2016)
- 74% of the Indian businesses intend to invest in cybersecurity
- 67% are looking to invest under the Internet of Things-related technologies
- 61% of the businesses look towards AI technology
Thus, with this changing pace, it can be concluded that the crucial intersection of technology, humankind and businesses in Indian industries will definitely help in creating a better and more connected ecosystem. The timing and pace of digital transformation is essence and actions of the businesses taking today, transforming their IT, workforce and security domains and preparing them well for a more digitized future.
“80% of leading companies say digital transformation has increased profitability.”
(Source: SAP and Oxford Economies)
Below are some of the companies that have successful adopted digital transformation-
The Apple computers are known for their long lifespan and excellent quality of the brand. To differentiate from other manufacturers, Apple produces the hardware and software components of their devices, in order to make a perfectly engineered combination of the two to work together. This in-turn makes the machines more reliable and less prone to productivity-sapping bugs and glitches. This also makes the user experience consistent across all the full-range of devices.
The mobile working has been becoming more prevalent, the integration between Apple devices has become more important. iCloud has played a key role in improving the integration between the desktop, iOS and cloud version of the core apps, so that the users on different platforms can collaborate in real-time.
Apple devices also come with the best security mechanism platform ranging from system level security such as Touch ID to enforcing two-factor authentication to AES-256 bit hardware encryption for data at rest and a VPN over the transport layer when the data is moving. Whenever an Apple device is enrolled in a mobile device management or MDM solution, the device is designed to secure important company data while protecting the end-user privacy. The MDM solution can only see corporate data and apps, and none of the personal data without any need for separate workspace.
One of the major advantage of iOS is that the updates are quick, easy and user-centric. Nearly 59% of the devices under iOS run on the latest version of the operating systems just after six weeks of their initial releases.
Apple has also partnered with firms such as Cisco, Deloitte, SAP and IBM for developing an integrated suite of solutions ensuring users don’t start from beginning when they choose to adopt Macs.
Over some few years, Dominos as a company has taken a large number of steps in the direction of digital transformation, and also introducing the ability of buying the products with the aid of any computing device used by their customers, be it mobile, smartwatches or even laptops. The company looked to cater not only to the digital tendencies of customers, but also their desire for convenience as well. The customers can login from any of their devices and place an order. Some features such as pizza tracker, plays a key role for the anxious customers, but the ability to order through their Twitter and other social media pages is still a challenge for the firm.
Dominos went one step ahead in order to enhance their services by partnering with Amazon, in order to provide the customers with the option of ordering the food through the voice command assistant, Alexa.
3. General Electrics
General Electrics is an American multi-national which has undergone several iterations in 130 years of its introduction. One of the most successful iteration came with the introduction of 3D printing in their production methods. In the year 2015, the company began the use of additive manufacturing in order to create fuel nozzle for their passenger jet engines and in this process became the first one to do so.
The nozzles that were 3-D printed proved to be 5 times stronger than the traditionally manufactured counterparts and these were able to withstand temperatures up to 1600C. Nearly 8000 orders valued at $80 bn were placed shortly after the product launched. The real power of additive lies in taking six parts and designing it into a single part and one can create geometry that isn’t possible in any other way. The customers can iterate quickly, finding out what exactly is working and what is not, can even change the designs and also do it many more times as compared to the traditional technologies adopted in the past.
The healthcare sector as a whole lag behind other sectors in terms of the digital innovation. The digital transformation in the healthcare account for only 30% of all the innovations, which includes personalized medicines, telemedicine etc.
Pfizer has collaborated with IBM in order to launch a cutting-edge research project delving into Parkinson’s disease. Through the IBM’s machine learning capabilities, this pharmaceutical firm has planned to roll out a system of sensors and mobile devices for providing doctors and researchers with the critical disease symptom in real-time to find valuable connections between the symports and other clinical data.
Walmart has teamed up with Amazon for changing it online return policies, in order to make things easier for their consumers, offering the lowest prices also promoting the fact that the customers need not to have a membership for ordering online.
no return policies, in order to make things easier for their consumers, offering the lowest prices also promoting the fact that the customers need not to have a membership for ordering online.
Walmart has also diversified their offerings buying online brands including Jet and Mod Cloth. Adding to it, the Walmart mobile app has continued to improve the customer experience. The latest update in the app allows the customers to add up their costs which includes the sales tax on their shopping lists before-hand. Once the customer gets into the store, he can interact with app’s store assistant for guiding them to items on the list by the means of a map.