What Is Digital Transformation, And Why Is Everyone Doing It?

30th July 2022

What Is Digital Transformation, And Why Is Everyone Doing It? image
30th July 2022

What Is Digital Transformation, And Why Is Everyone Doing It?

The business landscape is ever-changing. That’s what allows it to improve, grow and reach new markets. But, if a business wants to continue its growth well into the future, it will need to take a long hard look at the tools, services and systems it uses to see if they remain fit for purpose in our increasingly digital world. 

Any business looking for successful longevity will need to undergo some form of digital transformation or another. According to research, 70% of organisations have a digital transformation strategy or are working on one, intending to adopt growing technological advancements in favour of streamlined workflows and improved customer relations. Any business sitting on the fence needs to act fast because digital transformation isn’t going to wait around for anyone. 

The global pandemic saw a huge shift to remote working, and many companies found themselves in need of flexible and reliable cloud-based services for the first time. Since then, the need for digital transformation has skyrocketed as many businesses have decided to stick with some form of remote working for the long term. 

What is digital transformation?

Digital transformation involves modernising IT tools, business models and legacy systems to digitally optimise business operations and drive greater efficiency, productivity and flexibility. As future habits predict long-term hybrid working, it’s crucial that businesses continually re-visit existing processes to adapt to the ever-changing demands of the digital world. The consequences of being left behind will leave you under threat from competitors that have already undergone a digital transformation to streamline their voice solutions, maximise uptime and stay connected. 

Change can be scary, but this is different. Digitally transforming your current networks and communication solutions will only lead to gains and no losses to your business operation. Gone are the days of patchy network connectivity, ISDN and relying solely on in-house computing (hello cloud).  If you welcome digital transformation with open arms, you’ll never want (or need) to look back.

Problematic processes

Since the digital world is constantly changing, subject to updates, developments and new technologies, we need to move with it. And when it comes to business growth and development, we can rely on digital transformation to advance us to the next level. 

There’s no use in operating obsolete legacy systems alongside modern technologies as they don’t collate. By migrating legacy systems to the new environment, we can streamline processes for increased efficiency and customer satisfaction. Current outdated processes highlight communication difficulties in collecting data across multiple sources and departments. But, with the switch to new cloud technologies, teams can achieve better cross-business visibility. Say goodbye to working with manually time-consuming processes that don’t meet your business demands, and hello to streamline communication and reliable connectivity!

Processes should be digitised to maintain professional management of these solutions. Not doing so could create pain points in the customer journey, resulting in complaints and a lack of trust in your business. Your once loyal customers may lose faith and become frustrated in your solutions that haven’t adapted to meet their digital needs, negatively impacting your relationships and business goals.

Embracing digital transformation

For businesses across the globe, digital transformation is the next big thing, and for good reason. Those who have already implemented digital transformation recognise a positive impact on business operations, with a top benefit being the ability to better manage customer relationships and accelerate efficient workflows. Adopting these changes will grant all teams the ability to predict emerging trends and make more informed business decisions.

Let’s take a look at some other benefits:

  • Efficient, streamlined processes and faster system performance
  • Greater ability to meet business goals and increase profits
  • Flexible and reliable communication solutions
  • Lower maintenance costs with all-in-one systems
  • Scalable applications that can meet unique customer demands
  • More data, insights and intelligent support systems to better inform business decisions 
  • Use of cloud technologies with higher levels of security
  • Improve customer compliance with higher accuracy of customer data

So what do these benefits look like in practice? Connecticut-based bank, Connex Credit Union, is a prime example of how implementing new technologies can improve customer experiences when it comes to financing. The bank leveraged the digital transformation process to create data-based strategies that provide better services to its customers. With these adaptations, customers were able to improve financial health management using digital financial budgeting tools, and an interactive teller machine system with the ability to conduct various transaction activities. (Source: Solum)

For financial services and other industries across the globe, digital transformation isn’t just strategic smarts, it's a strategic necessity. As competitors within each industry begin to adapt, they are awarded the benefit of creating insight-driven solutions to better business gains. With 39% of CEOs naming digital transformation as the top priority for their CIOs, this trending business development is one you’ll want to invest in. Digital transformation allows businesses to make the jump from long-winded, one-off processes, to offering more streamlined services to their customers that use real-time data for better connectivity. Though the underlying technology and processes are complex, the decision to implement digital transformation for your business is simple.

At Voiceflex we have over 20 years of knowledge and experience in helping our partners stay at the forefront of technological transformations and advancements. After all, our focus has always been on their success. Our solutions are designed to help address the challenges of a distributed workforce and the ever-changing voice and connectivity requirements that digital transformation demands. 

To find out how we can help you, get in touch!