Surviving the Digital Disruption
Half of the world, as of now, has access to the internet. All the businesses, as well as governments, are trying to digitalize their methodologies and operations through cloud and IoTs. Digital transformation has and will continue to disrupt the existing business model of the organizations. Whether it’s the way in which entrepreneurs or businessmen used to communicate and interact with their consumers or the way businesses used to run, everything has taken a full 360 degrees turn. This disruption has caused a total change in the existing business models and infrastructure.
People resist change. It’s human tendency to not like the change. But as they say, change is the only constant. Unlike conventional disruptions, this digital disruption will have a positive impact, both on the businesses as well as the customers. And it’s not that it was entirely out of the blue. With rapid advancements being made in the technology, it was expected to some extent. Even in our movies which are set in the future, the director and writer’s imaginative world is such where everything is digitalized and requires minimum human intervention. Certainly, technology has made the human life simpler, but unlike the movies, it needs the humans.
Now, it’s not just about keeping up with the pace to stay in the battle. What’s needed is to have a future-oriented perspective and to act accordingly. Just staying in the race won’t do. Staying ahead with a plan for the next race is what’s expected. Technology should become an integral part of the organization’s strategic plans.
The three key factors which have been majorly affected by the digital disruption are:
1. The Market:
The niche or segment in which your business used to operate is not the same as before. It is rapidly transforming at a fast pace. The market is much more flexible than before. Every competitor is going digital to adapt to this faster pace of the regularly evolving market in order to achieve agility.
Doing so will only work to the advantage of the businesses. Employing cloud technology and other ground-breaking processes in place of the conventional systems will allow them to make and adopt changes quickly. By being more agile, smallest to largest modifications can be achieved very fast and easily.
This improved agility empowers their IT management and makes them capable of being proactive about any future changes. They will be able to explore more of the digital technology and the ways in which the business needs can be best fulfilled by using this digital information and cloud technology.
2. The Customer:
Customers are the god for any business. They have the power to destroy a business just by deciding against buying its offered goods or services.
Customers today have become more social and have been given more power to than before. Businesses must determine how this will impact their user behavior. Customers are able to voice their ideas, opinions, feedbacks, advice, and experiences on a massive platform called the internet and they are heard. Therefore, what they’re saying and reading about a particular business, whether positive or negative depending on the shared information, will cause tons of effect on its revenue and user base. In addition to that, through the World Wide Web and increasing IoTs, consumers have easy access to the competitor products also. So if they do not like anything about a service, they can easily move to the competitors. Due to this, maintaining the consumer base and retaining the users can be very challenging.
Customers too are aware of their power. They expect flawless service and top-notch quality from the businesses and service providers. They are the ones pulling all the strings and deciding how to run the show. Organizations not only have to deliver the right product, but to deliver it at the right time, through the customers’ preferred channel and at the right place.
3. The Employees:
This disruption in the digital age has caused drastic changes which are not only limited to their way of work. It has also altered the place where they work, or work from.
The number of “work from home” employees has increased by a 103 percent in last ten years. The rise in the concept of BYOD has allowed them to have access from anywhere through any device. Consumerization of IT is another trend driving the change in the employee needs and requirements. These two congregating fads have reformed the approaches and methods through which the employees complete a task, interact with each other, or engage with the clients.
This increase in the BYOD and IT consumerization is the main driver of the digital disruption. This number will further grow as the majority of the workforce is constituted by the millennials and will amount up to 76 percent in the next decade.
Look Forward, Forward, Forward
These three factors, the market, the consumers, and the employees have experienced extreme changes and will continue to advance at a much faster pace.
If organizations want to truly succeed, they have to be agile and follow a forward-looking approach. They need to predict future changes, identify the expectations of their consumers, and draw up a strategy accordingly.
To stay competitive, businesses should stop fighting the change and should start taking measures to adapt the change. Then only they’ll be able to survive this continuously evolving and advancing business environment.
Agility and futuristic approach; these two lines of action will simplify and ease the process of disruption.
In order to smoothly sail through this storm of digital transformation, adapt the ongoing changes, fulfill the current expectations and brace yourself for the future challenges.
Breeze-Telecom is an established technology solutions provider for enterprises adapting to the quickly changing IT landscape. The emphasis is always on providing business-specific, customized solutions which come with an impressive ROI.