Did you know that over 85% of entrepreneurs believe digital transformation is key to staying ahead of competitors? Over 55% company heads believe the same. Contrary to its growing importance, only 20% of companies in Europe and North America have a full-fledged digital transformation strategy. This needs to change.
Digital transformation is helping businesses improve ROI, deliver better customer experience, and reach never-before intended audience. Digital tools are becoming essential for increasing employee engagement and productivity as well. For example, Glassdoor, an online recruiting platform compared its list of ‘best companies to work for’ as compared to others recently. The company found that ‘the best places to work for’ outperformed the S&P 500 index by 84.2% and overall market by 115.6%.
And, it is not hard to understand why. Platforms like Glassdoor helps bring transparency and promote trust within organizations. Additionally, these platforms also help companies find best candidates and keep tabs on growing expectations of candidates. Moreover, digital transformation is not just limited to hiring employees.
Starbucks COO, Kevin Johnson recently launched an app for the company’s app. The app helped Starbucks customer save time by queuing through the app. Furthermore, it rewarded them points based on their use and increased loyalty. In such launches, companies gain critical access to consumer data and habits. This helps them drive user engagement with high accuracy.
Cloud and Automation Promise a Better ROI
The ROI for digital transformation is yet uncertain, however promises a more certain future. Many top companies have jumped into the foray of cloud services. These services are lowering costs of compiling huge sets of data, and providing analytical services as well. Moreover, cloud services also provide benefits such as data recovery in natural disasters.
Services like automation are expected to take the world of business by storm. Currently, many major companies like Facebook, IBM, Google are investing in AI platforms. This has resulted in a more simplified and enhanced customer service.
