The world is getting increasingly digital every day, and this is driving organizations to digitalize business processes and models. However, the process of digitalization is challenging and complex. Even those who have already undertaken a plethora of digital transformation initiatives have to focus on multiple facets to stay on top of their game. In order to keep competition at bay, businesses have to guarantee customer satisfaction, acquire customer loyalty with value added services, boost up revenue and profit figures, as well as use technological disruptions to their advantage.
Organizations embarking on digital transformation need to be mindful of three key aspects:
Re-imagining Customer Experience:
The ability to provide a unique, consistent and pleasurable experience across all channels drives the difference between customer retention and attrition in this digital era. Organizations need to look at redefining customer experience across the lifecycle to ensure customer mindshare.
Re-engineering Business Fluidity:
Profitability of a company is directly relatedto the ability to achieve fluidity – driving efficiency and flexibility through introduction of new business models, usage of tools and frameworks that act as catalysts and accelerators in the path to efficiency, and driving change management across all organizational levels. It further looks at reducing time to market through accurate forecasting, demand management and utilising emerging technology avenues like cloud that guarantee the ability to scale up or down in line with business requirements cost effectively.
As businesses move away from brick and mortar structures to online channels, a rising concern is around risk management. Business dynamics are changing, organizations are now transacting across borders and different regulatory frameworks. Any digitization initiative, therefore,needs to build in checks and balances to mitigate and manage risk and ensure compliance and governance.
Digital transformation is not merely a technology upgrade. It is the entire transformation of a business ecosystem with lasting effects. Happiest Minds believe that with the right mix of technology, process and people, we can help you achieve your digital transformation goal.
The three pillars of Digital Transformation Strategy:
Smart Enterprise – Driven by accurate insights on customers as well as internal processes. On one hand it involves using data to gain customer insights through big data analytics and using these to drive personalization and loyalty management. On the other it involves streamlining operational processes, optimizing supply chain and inventory through predictive forecasting and management techniques. and on the other,having the right set of processes and infrastructure. While agile processes govern the way the organization moves, the underlying platform is cutting edge and cost effective through usage of cloud technologies, mobility and software defined networking techniques.
Secure Infrastructure – Encompasses the entire spectrum of advisory, transformation and managed security concepts. While the advisory space is highlighted by areas including cloud and datacentre security, IP protection etc., the transformation space is marked by governance, risk and compliance, and identity and threat management disciplines. Managed security forms a key aspect by focusing on vulnerability management, malware protection and security event management.
Connected Experience – Aims at providing consistent and uniform availability of customer information across all touch points aiding customer conversions, retention and augmented sales. This is achieved through an Omni-channel view of customer, driven effectively through multi-channel integration across mobile, social, web etcThe communication channels in such an enterprise are unified and make use of new age technologies like machine to machine communications.
With extensive experience in understanding and transforming the digital space for many global organizations worldwide, Happiest Minds is the right choice for organizations embarking on a digital transformation journey. Regardless of the current stage of your transformation journey, we have the required knowledge, processes, expertise and technology to help you accelerate towards being a digital enterprise.