Digital Transformation Blog 02: Nothing Stands Still in Business
Enterprises across the globe face many challenges on a day to day basis and earlier we outlined how many organisations are reacting to the threat posed by 'disruptors' emerging in their own sector by undertaking a Digital Transformation (DX).
A key objective in DX is to ensure your organisation is customer centric, that’s to say, customers are at the heart of the enterprise.
But what has to change to achieve this goal?
Let’s dispel one of the urban myths surrounding DX that dictates that a successful transformation can only be successfully achieved by a complete technology refresh.
The fact of the matter is that change must take place within the organisation but the first place to start is not by ripping out and replacing ICT equipment but instead through examining and refining the way the organisation is structured; how different parts interact with each other (if they do at all!) and instilling a new management ethos that leads to a customer first strategy.
More companies are asking employees from different departments to collaborate on projects. But dragging people out of their silos isn’t easy.
How do you get aggressive, fast-talking salespeople to cooperate with reserved, detail-oriented engineers? Or intuitive creative types to sync with budget-minded planners?
It can be challenging but the rewards for success are high as recent research sponsored by talent management firm Cornerstone OnDemand showed a strong correlation between collaboration and business performance.
Companies where employees were encouraged to work together sat within the 64pc higher portion of high-growth organisations.
In today’s Internet-driven world, customers have more power than ever. If customers have a positive customer experience, they will share this experience with friends, family and connections, which in turn can lead to new business.
But what happens if you fail to provide a positive customer experience? The answer is simple - your customers will complain.
So why do we say that customer complaints can be good for your business? Well, according to research by analyst Esteban Kolsky, only 1 in 26 unhappy customers complain directly to you. You will never find out what was troubling the other 25 customers as they probably took their business elsewhere.
It is therefore vital that organisations interact with their customers, find out what they like and dislike about your products and services – before they reach the complaining stage.
However, the Cornerstone study also highlighted another barrier: inefficient technology. Just 47pc of those surveyed had the required technology and systems for collaboration.
Nonetheless, our advice is ‘Do not throw money at technology, sit back and expect a transformation of your business’. Instead consider what you need to achieve.
ICT tools that brings together business and telecoms data in real-time and use it to improve the quality of service offered to customers by integrating your databases to provide user with solutions and your company with the customer data needed to improve your product offerings.
Digital Transformation is both a threat and an opportunity but doing nothing is not an option.
Oak Innovation is a long-established software house focused on communication management applications. We work with business communication providers and technology partners to deliver recording, reporting and integration solutions designed to increase operational efficiency, support compliance and deliver an exceptional customer experience. We combine technical know-how and creativity to provide solutions that are easy to use and fit with existing IT frameworks.
Our vertical market focus enables us to create unique solutions for a wide range of industry sectors including healthcare, education, finance, recruitment and hospitality. Our team of U.K based software developers are on hand to support unique transformation projects.