The latest guide in our Business High Five series, The SME Guide to Digital Transformation offers useful guidance on how to understand how to introduce digital technology to help your business succeed.
Some of the important questions our guide answers include:
An Introduction to Digital Transformation
This refers to an overall transformation of organizational activities aimed at leveraging opportunities created by digital technologies and data.
Here are some of the reasons why this type of transformation is proving to be so valuable to many SMEs:
- Acceleration of Change
- Global Competition
- Customer Expectations
- Digital Adoption
How to create a Digital Transformation Strategy
With the help of new technologies, you can future-proof your SME by transforming your business model to increase productivity and profitability.
By making use of the following steps, you can craft a winning digital strategy for your business.
- Get buy-in
- Make sure you have sufficient funding
- Assess the current state of your business
- Determine the objectives & desired results
- Conduct a gap analysis
- Create a transformation roadmap
The Power of Data
Having access to data is critical to achieving your transformation objectives. But data is meaningless if it isn’t put to use. Companies who exploit their data and operate on it easily gain an advantage over their competitors.
Related: The rise of eCommerce
Examples of Transformation Across Industries
Digital innovation has an effect on various sectors in a number of ways. It provides extraordinary opportunities to follow new market models, but each industry’s solution is distinct.
In the guide, we explore examples in the agriculture & manufacturing, healthcare, and retail industries.
Tools, platforms, technologies to aid your Digital Journey
A wide range of digital tools are available across industries. Here is a list of basic, yet very important (and mostly free) technologies that are relevant across most industries and will help you along your digital journey.
Some of which include;
- Google Analytics