Enterprise Digital Transformation: A New Path in Business

Enterprise Digital Transformation: A New Path in Business

You are now entering a global business phenomenon popularly known as “enterprise digital transformation.” The recent Statista report suggests that by the end of the year 2022, global digital transformation spending is projected to reach 1.8 trillion USD. This is a tremendous opportunity for modern enterprises and businesses to implement digitized solutions and pursue breakthrough innovations.

Modern technologies such as Artificial Intelligence, Cloud computing, data analytics, IoT, and business intelligence have sparked the digital revolution in today’s business landscape. Therefore, If you don’t want your business to lag, it’s high time we learn about enterprise digital transformation- the new path in the modern business world.

As more and more companies have started embracing enterprise software development in their digital transformation journey, it’s a perfect opportunity to explore various software technology solutions that can keep your business afloat. In this article, we will highlight the primary applications and benefits of modern enterprise digital transformation. Let’sLet’s start with the basics.

What is enterprise digital transformation?

Enterprise digital transformation is the concept of integrating digital technologies and processes to enhance business operations and satisfy the changing market requirements. This concept makes the organizations re-evaluate using advanced technologies to pursue new business models and drive changes in their products and services.

This process includes cross-collaboration of various business departments where rapid application and software models are used for studying data and making informed decisions. Multiple technologies are responsible for driving the digital transformation process in an enterprise. Our next point of discussion explains what technologies lay the foundation of digitization.

Four major technology drivers for enterprise digital transformation

1. Cloud computing solutions

Cloud solutions are the essential contributors to driving digital transformation. Enterprises of every scale and size are migrating to cloud platforms at a rapid pace. More than 45% of modern enterprises rely on software solutions such as CRM (customer relationship management), HCM (Human Capital management), SFA (Salesforce automation), etc., to store and enable complex functions.

2. Big data and analytics

We cannot forget the advent of big data analytics in today’s data-driven world. Companies can no longer survive on past data that does not produce any value. Data analytics solutions such as visualization (dashboards) and modeling utilize real-time business data for decision making.

3. Artificial Intelligence and cognitive technologies

AI-based technologies such as machine learning, predictive analytics, RPA (Robotic process automation), and related cognitive solutions are the core of how your business operates in the machine-driven ecosystem.

4. Mobile technologies

We cannot stretch this enough that the touch-enabled devices, along with the ubiquity of 5G and WiFi, are the potential enablers of major digital enterprise transformation. Especially when no business is tethered to the desk and every small function is performed on the devices, it’s crucial for businesses to realize how these mobile technologies have changed the paradigm of b2b and b2b business.

Apart from the above-mentioned technologies, customers and digital disruptors also help emulate digital solutions in organizations.

But this still does not answer why major enterprises are shifting to the path of digital transformation? What possible benefits could digitization bring to your business? Well, let’s answer these questions.

Benefits of enterprise digital transformation

From in-depth consumer insights to enhanced scalability, productivity, and profits, the benefits of enterprise digital transformation are never-ending. Below are the significant advantages of implementing enterprise digitization to your business:

1. Quality business data collection

Most enterprises collect mountains of company data but do nothing with the gathered information. The digital transformation process optimizes this data for analysis to drive the business forward. The objective of data analytics is to accumulate the correct information and change it into actionable insights. By doing this, you get a single view report of your finances, operations, production, customer journey, and various other business opportunities.

Major companies also ensure that the sensitive data flowing into and of the software are protected with the layer of SaaS data encryption. This not only helps manage your valuable user data but also gives you higher anatomy over your customers.

2. Improved resource management

Enterprise digital transformation consolidates various resources and information into a suite of tools and software for business. So instead of dispersed databases and software, you get your business resources in one place without any vendor overlap. Digital transformation also encompasses every business unit from sales to finance, leveraging sensitive data to draw insights.

3. Enhanced customer experience

The great news is that the digital transformation not only unlocks business efficiencies for your team but also contributes to delivering an intuitive and seamless experience to your customers. Modern customers have high expectations for digital experiences, and they need quick deliveries, low prices, and endless service options to choose from. Therefore once you give your customers control of how their data is collected and used, you empower them with trust and loyalty.

4. Increased productivity and agility

Your business can quickly increase the agility with digital transformation by adopting continuous improvement strategies and modern enterprise development software systems. With faster adaptation and the right tech tools streaming your workflow, the entire business unit gains productivity and works towards faster innovation.

5. Revenue boost and profitability

When businesses undergo enterprise digital transformation, they gain profitability through extensive customer growth, better products and services, a satisfied user base, and a productive work ecosystem. On average, over 26% of the enterprise leaders expect higher revenue growth with modern digital solutions.

Is your business digitally transformed?

As crucial as enterprise digital transformation sounds for business, implementing it can be challenging. Therefore, it’s essential to narrow down your business strategy, keep on track with company compliance, and know when to make a move. We recommend seeking reliable enterprise software development solutions where you can plan your software lifecycle aligned to your business needs. Make your organization future-ready with modern digital transformation technologies and services.


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