What crosses your mind when you hear the word ‘Digital Transformation’?
Host of services that are run with Customer Centricity!
Faster processes collecting data to create even more efficient processes!
Systems that are managed by fewer people!
When you see a business that successfully implemented Digital Transformation what is the first thing you notice?
Paperless, fewer chances for human errors, Data utilized for predictive analysis, and increase in the revenue return per sale!
Does it now ring a bell somewhere?
Every business has different touch points. Integrating each touch point with technology generating predictive analysis generates the new system. When this new system becomes agile enough to deal with every uncertainty, it succeeds as a Digital Transformation. Any neighborhood store that is selling consumer non-durables can easily turn into an unmanned store. When it automates the billing counter and puts in surveillance, it takes the first step. If many such stores across the city join into a network, it adds on to the predictive analysis. Any rise in the demand for any product would reflect into the system. This would lead to placing an early order for the product. The time to deliver it at each store can be easily calculated by Machine Learning. Hence, informing the store owners when they should be expecting the consignment. Once this is coordinated with the next rise in demand, it’s a win-win for both store owners and customers. This entirely removes the friction in the system, with the end user accessing the product on high demand effortlessly.
Amassing into a Revolution
Digital begins being a layer to an existing system. It eventually wraps up every function to generate a coordinated result. Imagine you are reading this article. Upon finishing this, a set of solutions is shared with closest to the area you were looking for. This curated list with validated information not just saves your time but empowers you to make informed and better decisions. The solution that you were looking for can be extremely personalized. Just today Google announced it is launching AI in all of its products including Google Workplaces. Now imagine the email box prepares responses even before you open your inbox. Each of your google docs are designed with professional templates so that you deliver in the shortest period of time. It was barely 12 hours until GPT-4 was being rolled out and we had multiple implementations of it, which probably its coders never thought of!
Series of every such transformation snowballs into a revolution. It may start with an individual organization and cumulate into an entire industry. Netflix never owned any theater, Uber never owned a car, Airbnb doesn’t have any infrastructure and Amazon doesn’t own any physical store. The scale is possible as the technological pathways connect the nodes which brings in the domino effect. Newer services are developed based on the intelligence from the data. Emerging markets are suffused with the right business ecosystem and policy making as a derivative. Digital payments are the best example of it. What remained a monopoly bloomed in multiples. It started with a limited geography ending with widespread reach!
Means to an End
The main pillars to any Digital Transformation will always be technology, data, timing and culture. The ROI would depend on these four, irrespective of the investment made. Preparedness for the transformation stems from the culture. It evolves when it is aided by engagement by the major players to the system. Any implementation on ERP calls for the buy-ins by the C-suite. It generates better results when it is driven with a top down approach. The transformation begins with a clarion call. The entire process remains sensitive to its incumbent. An ever-evolving business throws in every volatility for the transformation to be future proof. An organization implementing an entire cycle needs to create milestones from not just the improvements but developing a truly future-ready product.
The end of the road is defined by the giant leap taken. It looks like a giant step only in retrospect. It is earmarked by numerous small implementations. No matter how big or small the investment is, the result entirely remains a culture ball-game.
What does the way forward look like? Once the entire transformation has taken place, it sets the pace for the technology to manage accelerated growth. The growth in the revenue is one of the measures. The most important one is the broadening of capability . Even if this doesn’t show an immediate impact, it percolates over a period of time. An increased bandwidth is the best risk mitigation to run a business in the VUCA world. Just as GPT would end up solving many more problems than it was designed for, so must the Digital Transformation at your firm. What is the solution you are looking for? Being a leader in your industry, how are you setting your pace for the future? Tell us what exact area you are looking forward to transforming. We will take you there.
VE3, builds partnerships and re-engineer products via future-proof technology. Here’s how VE3 is creating new pathways for you to reach greater heights. Want to find out how VE3 transformed Supreme’s order fulfillment creating higher customer retention?
Read the complete case study here to find out how a skateboarding shop and clothing brand that produces and manufactures accessories for youth culture and urban lifestyle tackled the problem of keeping the pace with the customer demands in respect to order fulfillment.
What are you waiting for? Let’s join hands for your growth and get started with your Digital Transformation journey. Give us a shout in here and we will reach out to you.