A Decade of Digital Transformation
In the digital era, change is inevitable. As customer needs and business requirements evolve, change becomes crucial for individuals and organizations. The booming digital economy has brought with it, opportunities for growth across multiple industry verticals. To succeed, businesses need to embrace the digital revolution and adapt their operating models to meet the challenges of today’s digital world. Digital transformation involves the use of digital technology to solve business challenges. When implemented successfully, digital solutions can empower companies to transform their business and deliver more value to customers. Moreover, by integrating digital technologies to optimize all areas of business, the transformation helps companies to unlock new opportunities for growth and drive revenues.
Digital transformation can be linear or exponential. While the focus of linear transformation is on improving operations within the business, exponential transformation involves changing the entire business model. In order to stay competitive, companies need to invest in both linear and exponential transformation.
Need for digital transformation
90% of CEOs believe that the digital economy will significantly impact their industry. Companies, both big and small are revamping their organizational processes and technologies to align themselves with the needs of the new digital business model. As per an IDG study, 89% of organizations worldwide, have adopted or are planning to adopt a digital-first business strategy. The real challenge for businesses lies in managing new technologies, processes and business models to make the transformation successful. To succeed, decision-makers need to understand the various elements that make up the digital ecosystem.
Winning attributes of enterprise digital solutions
Modern enterprise apps are developed with an aim of improving efficiency, scalability and end user experience. Hence, companies are re-thinking the way applications are conceptualized and developed.
Here are some of the unique characteristics of digital applications that make them successful:
1) Modern UI/UX
Digital apps are designed to deliver a more personalized experience to customers. There is a greater focus on engaging users and building brand loyalty. Thus, modern digital solutions help companies in delivering an omnichannel customer experience.
2) IoT devices
With the potential to enhance overall application capabilities and user experience, the popularity of IoT based solutions has grown in the last decade. As per IDC projections, the number of IoT devices is expected to grow to 80 Billion by 2025. In the coming years, enterprises will invest more in developing disruptive IoT based solutions to improve their revenue.
3) Artificial intelligence
Enterprises are using AI to support their IoT apps and get actionable data insights. Integration of AI will also empower companies to improve their productivity and grow their business.
4) Bots
By enabling personalized responses, automating services and workflows, Bots improve the efficiency and agility of large enterprises. Enterprise Bots will also help companies enhance governance and compliance.
5) Building digital ecosystems
By connecting people, data, and processes through digital platforms, digital ecosystems will help enterprises to build new business models, identify opportunities and power innovation.
Powering digital transformation for large enterprises
It is not easy to create a path for digital transformation with existing business process and software assets. One of the biggest challenges for enterprises is the expensive, slow-moving, legacy incumbents. The success of digital solutions depends on implementing the right technology at the right time to meet the specific business requirements. To keep up with the dynamic requirements of the business, development teams therefore need an adaptive and agile platform. A reliable, secure, and scalable digital platform can speed up innovation and support the development of digital applications. SaaS based solutions can also provide enterprises with easy access to an on-demand platform that can be used as per requirement. Some of the must-have features for legacy apps include Modern User Interface, Single Sign-In, Audit Logs, Role Based Access Control, Integrations, Analytics, and Feature Gates.
HashedIn’s journey towards digital transformation
Customer experience, people, innovation, leadership, and culture plays a crucial role in tech-enabled transformations. HashedIn achieved success in digital transformation by focusing on the following key pillars of digital transformation:
1) Customer experience
Understanding the customer journey and expectation is crucial for implementing the right digital solution. By using digital technologies, companies can understand their customers better, and provide superior digital experiences. Consequently, companies can deliver more value to the customers and improve conversions. Customer experience is one of the core focus areas of HashedIn’s digital transformation strategy and a key reason for its success.
2) Employees
Just like customer experience, employee experience also plays an important role in powering digital transformation. To succeed in any tech-enabled transformation, you need the right people on your team. Furthermore, you have to invest in training your team.Through initiatives like the HashedIn University, HashedIn invests in training and nurturing talent. Launched in 2013, HashedIn University is a boot camp for fresh graduates to get hands-on experience in building products from scratch. The people first culture has certainly contributed to HashedIn’s success.
3) Innovation
Innovation does not happen by chance. A culture of innovation needs to be nurtured in the organization. For this reason, HashedIn has an open work culture where employees are encouraged to collaborate and implement their ideas. Teams are given the freedom to take ownership and build solutions that create impact. HashedIn’s success in innovation is because of the collaborative work culture at the company. Furthermore, conducting internal hackathons encourages employees to bring their ideas to life. Naturally, the innovation-driven culture has enabled HashedIn to launch many successful software products like Meet Notes, Anvaa, and RDB tool. HashedIn is also one of the biggest contributors to Redis open source since its inception. In the long run, it is the culture of innovation that helps companies to gain a competitive advantage.
4) Leadership
Active involvement of the leadership team is crucial for the success of any tech initiative. Undoubtedly, HashedIn’s leadership team has played a crucial role in digital transformation by being proactive and identifying opportunities at the right time. Whether it was to drive innovation or to build strategic partnerships, the leadership team at HashedIn played an active role in initiating the digital transformation efforts. HashedIn is one of the few AWS 60+ Certified companies in India. Additionally,the partnership with SalesForce enables HashedIn to leverage the Heroku platform to create new digital solutions like chatbots, analytics and loyalty apps. HashedIn is also the only partner and competency center in terms of Consulting, Support and Specialized Workshops from APAC region for Redis Labs. Strategic partnerships like AWS, Redis, and Salesforce, have significantly enhanced the development capabilities of the HashedIn team.
5) The HashedIn Culture
Culture plays an important role in digital transformation. The collaborative and innovation-driven culture especially has led to the success of the digital transformation efforts at HashedIn and enabled the launch of 100+ software products, worldwide.
The future of digital transformation
Digital disruption has impacted every industrial sector in the world. Winning software products will be Integrated, Customer Experience focussed, Analytics-driven and AI led. SAAS transformation and digital transformation can help enterprises deliver winning digital experiences. Eventually, enterprises that start their journey towards digital transformation sooner, will achieve success faster.
Learn more about HashedIn’s digital strategy
HashedIn helps companies build deep tech-SAAS products and platforms. At HashedIn, we constantly strive to build robust solutions to make operational tasks more seamless for our clients and partners. By using the latest digital technologies and the expertise we gained by launching 100+ software products, we have delivered state-of-the-art digital solutions to clients across the globe. To learn more, email us at contact@hashedin.com
Originally published at hashedin.com on August 3, 2018.
This story is published in The Startup, Medium’s largest entrepreneurship publication followed by 358,974+ people.
Subscribe to receive our top stories here.
