Digital Transformation Services & Consulting | Savvycom
Between 2020 and 2023, direct investments into digital transformation are projected to reach a total of 6.8 trillion U.S. dollars (Statista — Digital Transformation’s market size). Originally, the spending on the technologies and services that enable digital transformation worldwide for 2023 alone was expected to amount to 2.3 trillion U.S. dollars. The expected amount of spending indicates that digital is the new-age currency, and with the widespread adoption of digital technology, all businesses are heading toward digital transformation services.
But what are the ideal requirements, strategies, and services for a successful digital transformation? Let’s find out!
1. What is Digital Transformation?
“Digital Transformation (DT or DX) is the adoption of digital technology to transform services or businesses, through replacing non-digital or manual processes with digital processes or replacing older digital technology with newer digital technology. Digital solutions may enable — in addition to efficiency via automation — new types of innovation and creativity, rather than simply enhancing and supporting traditional methods.
One aspect of digital transformation is the concept of ‘going paperless’ or reaching a ‘digital business maturity’ affecting both individual businesses and whole segments of society, such as government, mass communications, art, health care, and science.” — Wikipedia
To make it more precise: Digital Transformation (DX) means intergrating new and improved technologies into all areas of a business in order to fundamentally change processes, customer experience, and value. It is the force which drive businesses forward into discovering new possibilities and oppertunities. Your customers have gone digital, so your business processes need to be in synchronization with their needs, convenience, and expectations.
2. Benefits of Digital Transformation: Why go Digital?
For most companies, digital transformation services are probably too complex & time-consuming to handle alone. That is why around 88% rely on third-party providers to make the transition for them. Despite having to rely on digital transformation services companies, lots of organizations still make their tech-savvy transformations more seamlessly and rapidly than ever. Here are the top 05 benefits & reasons why any companies would choose digital transformation services:
2.1. Reduced costs & Improved efficiency
Being able to optimize business technology and operations around digital technology means that businesses could save cost-per-transaction and, as a result, increase sales potential. New technologies also create possibilities that can help a company acquire, retain, and assist customers while simultaneously reducing marketing, development, maintenance expense. The SAP Center for Business Insights and Oxford Economics has reported that:
- 80% of organizations that have completed digital transformation saw an increase in profits.
- 85% say they have increased their market share.
- On average, leaders expect 23% higher revenue growth than competitors.
Having the right tech tools or tech partners that work together with your businesses can streamline workflow and improve productivity. Automating many manual tasks and integrating data throughout the organization empowers team members to work more efficiently. A previous article from Savvycom has already disscussed on how digital transformation services can help your business cut costs.
2.2. Data-driven insights
The introduction of cost-effective, customer-focused digital tasks streamlines business workflows and eliminates the overhead associated with previous outdated solutions in your businesses. Digitalization gives companies the ability to combine data from all customer interactions and formerly unstructured sources into a useful, actionable format to optimize customer experiences and expenses.
Data has always been the key for any marketing department or business analysis to unlocking customer insights. By better understanding your customer and their needs, you can create a business & marketing strategy that is even more customer-centric. Using both structured data (personal customer information) and unstructured data, such as social media metrics, these insights can help leverage business growth.
Data also enables strategies to provide more relevant, personalized, and agile content.
2.3. Improved customer satisfaction
With the rise of mobile and technology advancements, we’ve seen customer expectations change now and then. The modern customer expects simplicity, yet it still has to match their needs and demands. What would happen if you can’t provide the simplicity they expect? Or what would happen when businesses provide an outdated experience? Then they will likely move on to the next best thing. An article on Forbes reported that 92% of business leaders are developing digital transformation strategies to enhance the consumer experience.
According to McKinsey, the success factors in customer experience in the transformation process are:
- Design and digitize customer journeys
- Increase speed and agility in insights
- Achieve customer adoption of digital customer journeys
- Develop agility in delivering journey transformations
Improving the customer experience is one of the big goals of digital transformation. Offering digital tools to your customers will make their lives easier. It makes your business more attractive to potential customers. But, most importantly, it keeps you relevant. Businesses that offer a clunky, outdated experience will have trouble competing with those that stay up to date with modern technology.
Any company that stays ahead of the digital revolution will earn much more authority, trust and respect from customers.
2.4. Updates skillsets & knowledge
As new technology continues to surge up, the demand for specialized skills will grow in number. To name a few that the future of digital business is looking to be heavily built upon:
- Artificial intelligence
- Augmented Reality
- Cloud Computing
- Machine Learning
- Data Exploration/Analytics
- Growth Hacking
One of the newest innovations, which Microsoft recently teased, was Microsoft Mesh: a new technology that enables presence and shared experiences anywhere — on any device — through mixed reality applications. Altimeter’s report concluded that 31% of companies lack digital talent and experience among their workforce and leadership. This situation is inhibited by fear of change; many companies view digital transformation as a huge cost rather than a smart investment in the long term. So they are unwilling to make a change.
By braving the challenge to make a radical change, businesses allow their employees to develop skills for the future and equip their business with either in-house or outsourced knowledge to sustain annual growth and have a competitive edge in the digital age.
2.5. Increased agility and innovation
COVID-19 gave the business world a surprise agility & durability test. Many were left scrambling; many had to down-size. All of these happen because those businesses didn’t have appropirate tools/processes in place to adapt quickly. According to Statista, as of January 2021, the number of employees being laid off by tech startups amounted to 86,892 worldwide
For other businesses, the move to remote work was relatively seamless. Since they already had the digital tools and processes needed to work from anywhere. By eliminating the dependence on slow legacy IT systems, digitally transformed businesses make themselves more responsive and are quick to adapt to the current market trends and demands.
3. Digital Transformation Services
Simply going digital isn’t enough to push a digital strategy. To realize the full potential of digital transformation, a company must create an environment that facilitates digital accessibility and develops disruptive innovation strategies. Here at Savvycom we provide the most end-to-end digital transformation services that will elevate your business to a new height. We enable companies to re-energize their digital center, navigate the next generation with greater trust and speed, and grow next-generation innovation capabilities.
3.1. Digital Transformation Consulting
Our experts examine the company’s technology infrastructure, processes, and structures in order to maximize short-term success while still ensuring long-term sustainability.
3.2. UI/UX Design and Ideation
Our full suite of UI/UX services helps brands develop impactful, human-centered identities that engage, excite, and establish relationships with their customers. Check out our showcase on Behance.
3.3. Mobile, Web and Desktop App Development
How do you pick the best forum for creating your app? Our experts have the digital expertise and mentality to take your project to the next level for any form of app creation.
3.4. IoT System Engineering
With the help of our engineers, bridge the gap between people and devices, make the most of IoT technology and influencing global transformation.
3.5. End-to-end ML and AI Model Production
We’re dedicated to integrating machine learning’s infinite capabilities with your business objectives. Our services blend years of experience to help you develop AI-powered apps.
3.6. Big Data Infrastructure and Management
To make better business decisions, generate new revenue sources, and win a competition, turn the data into useful, actionable insights.
3.7. Re-engineering of Legacy Products and Apps
By updating obsolete systems and troubleshooting problems in real-time, envision advanced possibilities with our legacy modernization services.
3.8. Process Consulting
By aligning creative solutions to your company requirements, our consultants will help you improve your bottom line and processes.
This is a brief summary of an article published on Savvycom blog. If you would like to learn more detailed information, feel free to read the full article.
