How To Leverage Digital Transformation For Business Growth

leverage digital transformation business growth

Digital transformation is the integration of technology in all areas of your business. Basically, it’s the digitizing of a business ecosystem. This process requires flexibility in order to achieve a seamless transition, and this flexibility revolves around accepting failures and challenging the status quo. 

Digital transformation often gets mixed reviews and criticism as the approaches taken are different with each business. 

Studies show that over 70% of companies gain success after digital transformation. So it’s clear that incorporating digitalization in business. The secret is knowing how to leverage it for a successful business. 

Read on to know how you can leverage digitization for a successful business, like clients of

Use Sophisticated Technology 

The respondents who used digital transformation in their business indicated that the more they used technology in all parts of their business, the more it improved. 

The use of sophisticated technology might seem counterintuitive due to the complications that come with advanced technology. However, the more advanced the technology is, the more seamless the transition can be if used properly. 

Integrating technology like the internet of things, artificial intelligence, cloud computing, and machine learning have proven to be fundamental in working with large datasets. 

Right Leaders 

Hiring digital-savvy leaders is also another reason for a successful digital transformation. Companies that still had leaders with less knowledge of technology showed no progress in digital transformation. 

A majority of companies that changed their leaders to digital-savvy leaders saw outstanding improvements. 

Tech-savvy leaders bring change and are familiar with the trending tech practices for a business to succeed. Also, given that this is a field they’re familiar with, their commitment to its success is higher than that of leaders with little technical knowledge. 

Studies have shown that companies who brought in a chief digital officer (CDO) have a high likelihood of succeeding 1.6 times more than those that don’t. 

Training And Developing Talent 

Training and developing talent during the transformation phase is a fundamental step for a successful digital transformation. A team that understands the technology stack used in the company can efficiently utilize it for maximum output. 

The ideal way to integrate your company’s staff is by redefining roles in the company. Redefine their roles to align with the goals of the transformation and train each individual as per the task. Another way is through mentoring. 

Instead of hiring tech-savvy juniors, hire tech-savvy leaders, as stated earlier. Tech-savvy leaders will mentor the junior staff and streamline the goals of the transformation. Such mentoring cuts the cost incurred by hiring a new pool of talent. 

Empower Your Staff 

Digital transformation for a company also includes cultural and behavioral change. Therefore, to achieve it, you need to empower your staff. 

Empowering your staff involves reinforcing new working behaviors and ways of working through formal ethics. Also, seeking feedback on areas that need digitization creates an inclusive approach towards digital transformation

For a successful digital transformation, pick a compelling cultural and working behavior for your employees to follow. Companies that underwent a digital transformation by sticking with one working style and cultural behavior showed more significant improvements than those that did not. 

Upgrade Your Stack 

Failing to upgrade your day to day digital tools affects your company’s efficiency. With technology changing daily, it is fundamental to upgrade with every version release. 

For you to avoid scalability and security issues, it is vital to upgrade your systems frequently. The efficiency that stems from upgrading improves performance. 

Digital transformation is hard for most companies, but once you have cracked the hacks of utilizing it, then your company will reap huge benefits. While digitizing your firm, it is imperative to consider reputable companies that offer reliable digital transformation services.

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