Technology transformation is at the top of the agenda for CIOs in 2022 and beyond.
Digitalization is re-inventing businesses. It provides a unique competitive edge that sets up companies for success. By success we mean identifying new markets, meeting customer expectations, and understanding their behavioral change in the evolving digital age, and so forth. However, digital or technological transformation initiatives continue to be complex and time consuming.
To keep up with the constant innovation and business change, companies sometimes fail to account for dependencies like migrating systems to the cloud without strategically planning for compliance, cyber threats, etc. This will backfire the automation, scalability, and flexibility that cloud-based systems offer. Rather, capturing and addressing all system dependencies for a full scope of digital transformation benefits can be a better approach.
Technology transformation is more about business growth than technology. Technology is only the enabler. At its core, technology transformation means bringing about change in processes with the help of technology to make organizations agile, nimble, and scalable.
Unifying all your business processes and creating a single source of data makes data-driven decisions possible for employees across verticals. This increases productivity.
With the right set of intuitive, automated tools, employees can respond quickly to customers and do so at the right time and place.
A digital transformation survey establishing the connection between digital maturity and financial performance reported that 43% of digitally mature companies claimed a higher net profit margin. By improving customer interactions and identifying untapped opportunities through data and insights, businesses can capitalize on their digital investments.
With digitalization, core technology systems simplify and automate daily tasks and streamline workflows. This enables employees to find more time to focus on innovation, core competencies, and business-critical values.