Digital Transformation. I can sense you rolling your eyes at the very utterance of what’s become ‘the buzz-term to rule them all’! But stick with me.
Customers the world over are demanding better products, faster delivery and smarter service. They expect more today than they ever have before, which puts pressure on businesses and in particular, traditional business models.
In order to keep up with these expectations, the concept of ‘digital transformation’ is sweeping the globe and New Zealand is quite rightly, following suit. Digital transformation is more than just a trendy term – it’s a way of keeping up with customer expectation and demand, by transforming business processes to become faster, better, more agile and ultimately more competitive.
And the stark reality is that only businesses who can grasp this opportunity of digital transformation will survive into the future.
In this blog, we look at what’s driving Kiwi businesses towards digital transformation, and why it’s key to business survival.
Why Kiwi companies need to digitally transform
The big brands of the world have shown us what great customer service looks like and customers have come to expect it. The bar has been raised and set. No longer is your business compared with only your competitors – your service is compared to everyone across the board, including global brands with the muscle and finance to put a major focus on the customer experience.
Smart customers – empowered customers – know what they want. And that certainly includes New Zealand customers.
Now, let’s explore what’s driving Kiwi businesses towards digital transformation.
In our experience at Soltius with working with New Zealand companies, accelerating innovation always boils down to gleaning and leveraging deeper and more significant insights through analytics. Without being able to pull meaningful business insights from a variety of data sources, innovation cannot be accelerated.
But with digital transformation it means being able to cope with and mine Big Data, in order to accelerate innovation and add value to their customers.
The need to modernise existing IT systems to achieve increased agility, flexibility, management and security
Implementing systems built for the digital age, and then taking an iterative approach to adapting to the way people work and interact with those systems, will see organisations achieve a sustainable competitive advantage.
Digital transformation means a wide range of approaches to solving this IT-modernisation challenge. This includes using cloud computing to increase business agility, implementing mobile strategies to better engage customers, and ensuring that each customer touch-point is seamlessly consistent for a truly omni-channel experience.
The need to more rapidly adapt to change
Automation allows for agility by freeing up resources, and next generation systems that enable digital transformation have the same if not better levels of operational stability.
Automating basic activities means your workforce can focus on what’s important.
In New Zealand, true digital transformation is still in its infancy and the rate of digital transformation varies greatly by industry sector. But what is clear is that the most successful companies are responding by adopting intelligent and agile digital processes and technologies through different functions of their business.