For well over a decade, the world has experienced sweeping changes at the hands of a digital revolution. The way people communicate has changed drastically over the last 25 years and has yet to show signs of slowing down. The digital revolution has forced businesses of all sizes to adapt to rapidly changing customer needs, leaving SMEs contemplating how to achieve digital transformation on the turn of a dime.
Digital transformation might seem like a challenging change to implement, but companies like mFax are helping SMEs move their established business practices into a streamlined, digitally-based workflow. The connectivity of the internet and widespread popularity of mobile devices has created a customer base that is “always on,” so businesses need to adapt all parts of their operation in order to keep up with the customers’ needs. Below is an in-depth explanation of what digital transformation is and how SMEs can achieve it with relative ease.
What is Digital Transformation?
Digital transformation is a process by which businesses modify existing practices to rise to the demands of a changing market. If the existing processes cannot be integrated into a digital-first model, then digital technologies are used to create new processes that are better suited for a successful modern enterprise. Essentially, recreating a business in the digital era is digital transformation.
While it is easy for corporate giants like Disney or Nike to adapt, SMEs need a little more finesse to keep up. There are a few key areas where businesses should shift their focus when trying to achieve digital transformation, which is explained in greater detail below.
Budgeting Time and Money
Adapting an established business to the digital age often requires complex solutions. Complex solutions usually mean spending a decent chunk of money and time on the project before getting it right. SMEs do not usually have a lot of flexibility in these areas, so simplifying the digital transformation process is crucial. SMEs should consider a slower implementation by focusing on the areas of their business that are most important to the customer experience, rather than making sweeping changes to the entire business model all at once.
Focusing on Company Culture
Company culture plays a huge role in the success of a digital transformation. SMEs should be sure to have digitally-focused, forward thinkers in leadership roles that can help them inject excitement and energy into the business. It is crucial for small businesses to have executive support that drives transformation and establishes a culture of connectivity within the company.
Invest in Tech
In order for businesses to achieve digital transformation, they will have to invest in technology that upgrades both workflow and customer experience. This can range from investing in more modern equipment to using vendors that help businesses integrate a business practice on which they rely heavily. A good example of a service that can be brought into the digital age is the fax machine. Doctors’ offices and law firms rely on faxing for their day-to-day workflows, so upgrading it to appeal to a modern, digitally-focused client will help them stay relevant in the long term.
Running a Business in the Digital Age
It is important to remember why undergoing a digital transformation is important to SMEs. Doing so helps businesses provide value to customers while ensuring their changing demands are met. Businesses simply need to start with a solid strategy for digital transformation and success will not be out of reach.