While everyone believes that digital transformation is essential to the success of all modern businesses, no one says that it is easy. Digital transformation is multidimensional, complex, and fraught with obstacles that may make even the most seasoned business person's head spin. 

Check out these digital transformation benefits if you need some motivation before embarking on your digital transformation journey. These advantages are so critical to the success of a modern firm that you won't believe you ever considered foregoing them.

What is the Importance of Digital Transformation?

The way a company functions changes as a result of digital transformation. This process includes systems, processes, workflow, and culture. This transformation affects every level of a company and brings data from various departments together to help them function more successfully.

Companies may connect the dots on the customer journey in ways that were not before feasible by leveraging workflow automation and advanced processing technologies such as artificial intelligence (AI) and machine learning (ML).

1. Improved data collecting

Most organizations amass mounds of client data, but the true benefit comes from utilizing this data for analysis that may propel the company ahead. Digital transformation offers a mechanism for acquiring the relevant data and completely utilizing it for higher-level business insight.

It enables various functional divisions within an organization to translate raw data into insights across several touchpoints. This results in a unified perspective of the customer journey, operations, production, finance, and business prospects.

As part of this process, it is critical to evaluate how customer data is collected, stored, analyzed, and shared.

2. More effective resource management

Digital transformation combines information and resources into a set of business tools. It consolidates company resources and reduces vendor overlap rather than distributed software and databases. In 2020, the average number of applications utilized in enterprise businesses will be 900. Applications, databases, and software can be integrated into a centralized repository for corporate insight through digital transformation.

3. Customer insights based on data

Data can be used to gain customer insights. You may establish a more customer-centric business plan by better knowing your customers and their demands. These insights can assist drive corporate growth by utilizing both structured data (personal customer information) and unstructured data, such as social media metrics.

Data enables strategies to deliver more relevant, tailored, and responsive information.

4. Improved customer service

Consider how your digital transformation can not only increase team efficiencies but also provide more smooth, intuitive experiences for your customers. This includes everything from email communications to user portals, digital products, and even the frequency with which you contact new prospects.

Customers have high expectations when it comes to digital experiences. Customers are accustomed to having an abundance of options, low costs, and quick delivery. The next battleground for brands is customer experience (CX). According to Gartner, more than two-thirds of organizations think they compete primarily on customer experience.

5. Promotes digital culture (with improved collaboration)

Digital transformation fosters a digital culture by giving team members the appropriate tools for their surroundings.

While these technologies make it easier to collaborate, they also help to take the entire organization forward digitally. This transition in digital culture is critical for firms to remain sustainable. It requires team members to upskill and learn digitally in order to reap the benefits of digital transformation.

6. Profits have increased.

Companies that go through digital transformation increase their productivity and profitability. Consider the following findings from the SAP Center for Business Insights and Oxford Economics:

Profits have increased in 80% of firms that have completed digital transformation.

85% report a rise in market share.

7. Improved agility

Organizations become more nimble as a result of digital transformation. Businesses can increase their agility with digital transformation to improve speed-to-market and implement Continuous Improvement (CI) techniques by borrowing from the field of software development. This enables quicker invention and adaptation while also giving a path to improvement.

8. Increased Productivity

Having the correct tech tools that function together can help to increase efficiency and productivity. It enables team members to operate more efficiently by automating many manual procedures and integrating data throughout the firm.

Conclusion

The advantages of digital transformation with the assurance that your data is secure as it goes via these new systems. Take immediate control of your data and improve your existing security.

Secure your data as it is being created.

Maintain complete visibility and control while collaborating with confidence.