We’ll explore how digital transformation can benefit businesses ranging from SMEs to scaled transnationals — and where digital CRM solutions come into play.
Firstly though — what exactly is digital transformation?
The concept refers to the incorporation of digital technology across all areas of a business, to the point where it affects operations on every level. While digital transformation is a complex process by its very nature, the benefits often significantly outweigh the challenges, and the impact can be wide-reaching — from boosting customer satisfaction and improving process speed to increasing revenue and accelerating growth.
The core elements of digital transformation include:
Such transformation takes courage, strong leadership, and an effective strategy.
Workbooks has helped businesses across all verticals to achieve their digital transformation goals. Learn more about CRM digital transformation in your industry:
A recent survey conducted by IDC canvassed the opinions of 32 CXOs in ten different countries regarding the value of IT and digital transformation. IDC was interested in learning more about the impact of digitalization on the fight against Covid-19, the virus’ impact on corporate business, and new digital transformation measures implemented after the pandemic. The top three negative impacts of Covid-19 on enterprises were:
Conversely, the top three positive impacts were cited as follows:
According to Sandy Shen, Senior Director Analyst with Gartner, this is a “wake up call” of sorts for many companies who are finding that they have placed far too great an emphasis on the “daily operational needs at the expense of investing in digital business and long-term resilience.” As a result, companies that are able to effectively pivot their technological capacity and investments to digital platforms will be best equipped to manage not just the impact of the pandemic, but also increase their resilience in the face of future obstacles.
Too often, after all, we don’t fully realize the importance of some things until they’re forced upon us.
There are two main areas of focus that need attention to effectively drive digital transformation.
When you’re looking to switch to data-driven processes, the success of any initiative boils down to company culture. Be clear from the start on the goals and objectives of digital transformation. Choose carefully when selecting leaders for the transition.
Oftentimes, the organizational leaders who oversee such initiatives are CEOs or dedicated digital transformation officers. Integration is key, so be sure to collaborate with cross-functional teams, involving employees at all stages of the journey. You will also need to provide regular updates on progress to make the transition as smooth as possible.
The ultimate goal is a more connected business. We’re talking connected employees, connected customers and partners, and connected data, applications, and systems. This transformation should help foster data-driven workflows and break down data and departmental silos for a more adaptive, efficient, and collaborative work environment.
Workbooks helps businesses to invest in the people that use their systems. Learn more about how you can make your workforce an efficient CRM-savvy unit with our bespoke training courses.
The prospect of having to build proper infrastructure to support digital transformation can be daunting, especially given the myriad of new and emerging technologies available. Bear in mind that it isn’t necessary to adopt every bit of shiny new piece of technology you stumble across.
Instead, the key is understanding your goals, performing due diligence when researching technologies, effectively vetting the ones that are appropriate for your business, and implementing them effectively.
Another focus should be data privacy and security. With data playing such a central role in digital-first business, companies and customers alike must be assured that there are absolutely no compromises with regards to the changes and increases in data collection, storage, analysis, and usage. It’s crucial to ensure that data governance and integrity are vigilantly safeguarded.
Companies that are aiming to expand their reach, improve their relevance, and deepen their resonance will find that digitalization is no longer an option — it’s a necessity — and that CRM is a cornerstone of these efforts.
Digital CRM software functions as a vascular system by providing a platform that connects every part of your organization. The great thing about an effective CRM is that it consolidates many essential functions with a comprehensive, shared platform. Therefore, it naturally serves as an invaluable tool for growth, driving better employee collaboration and stronger customer relationships.
CRM essentially serves as an “umbrella system”, which coalesces various building blocks for effective digital transformation. A good CRM system contains and integrates data, analytics, and tools, providing you with profound insights into your customer base.
From these insights, your business develops the ability to drive stronger communications, better customer engagement, and new revenue growth.
Learn more about how CRM platforms like Workbooks can propel your business to new heights through informing strategic decision making here.
If there is at least one positive note to take from the Covid-19 pandemic, it’s that it has forced many companies to make necessary changes to their operations and use of technology. Fortunately, this departure from normal business has been the first step that many companies have taken on the path to digital transformation.
But the question remains: as teams get back to business as usual, will these companies continue to embrace this opportunity to adapt, grow, and become more resilient? Or will they revert to their previous ways of conducting business?
In order to continue towards digital transformation, businesses will need to implement a bulletproof CRM solution.
If you’re considering deploying your first CRM or moving from your existing provider, we offer a solution tailored to your business needs, supporting each of our clients to ensure maximum return on investment from their digital CRM solution. We’ll help you to gain unparalleled insights into your customer base and unlock the benefits of a tailored, best-in-class user experience.