Benefits of Digital Transformation
Why digital transformation is so important?
If a company wants to maintain profitability and customers, as well as keep employees’ high satisfaction, remain competitive, it is indispensable to embrace the latest technology. The truth is that being at the forefront of this technology is not so difficult. It simply requires a number of the transformation process.
Digital transformation is not just an external brand, not just for customers and competitors to see that you are using the latest technology, but businesses do the digital transformation because it really helps. Here are some of the benefits that digital transformation offers.
When a double number is completely successful, the business will perform better. Customers’ needs are met more quickly, office work is more efficient, and business decisions are made more strategically. All this leads to increased profits and more cost savings. In simple words, when all aspects of the business are improved, the increased profits are inevitable.
Recent research has shown that companies that make successful digital transformations have a 12% higher market valuation than their competitors, along with a 25% higher return.
This increase in efficiency applies not only to business processes but also to the development of new products and services. The development process, when combined with digital transformation will encourage modernization, helping the company deliver products to the public faster. The latest software and systems make it easier to log out of new services or products, as well as their campaigns. More than 70% of people in financial services see inheritance technology as a barrier that hinders them.
Customer satisfaction is the root of business success. Now, customers no longer accept anything that falls on them. Because customers have too many options while businesses have too many competitors. If customers find that loyalty to one brand does not benefit them, they will happily switch to another brand immediately. So for the benefit of customers, digital transformation is essential.
Thanks to technological advances, such as mobile options, customers expect simplicity. They hope that interacting with a company will be easier. Previous legacy processes did not allow this. They are cumbersome, confusing, and time-consuming processes. No other customer has the patience for this. So both sides can have a strong impact on customer loyalty.
If a company holds an inefficient old system, customers will leave. However, if they lead the competition in providing a better customer tool, strategy and customer base, the customer will notice and appreciate this effort. Businesses that do this demonstrate that they value customers and their time. The proof of the digital transformation of positive customer impact can be seen through retail customers. An EY survey shows that the number 1 way to collect, grow and retain customers is through providing customers with great shopping experiences.
The more customer interaction data and market trends are recorded, the more valuable insights gained from this information. However, the problem that many businesses are facing is that in fact there is too much data for a data analyst to the screen. Useful information is being lost. This is exactly the problem that digital transformation is headed for. The latest tools and systems can analyze data in minutes. This means that businesses can respond faster and make any necessary changes to help them dominate the market.
With the best data-driven information, businesses can make more informed decisions, such as how to optimize advertising spend, prioritize leads, improve employee performance, and the most effective way to communicate with customers.
In the past decades, it was impossible to gain a greater influence without spending a lot of investment, new storefronts to open in different locations, or newspapers to take to areas. But with the right number transformation, someone on the other side of the world can achieve it without investing too much. This is the level of influence needed if the business wants significant growth. They need a platform where potential customers can easily reach and buy what they want from whatever device they like.
Companies undergoing digital transformation will also see their reach expand because their brands will gain a better reputation. More and more companies are finding a link between digital transformation and brand reputation. In 2011, only about two-thirds of CEOs put brand reputation first. Today, this number is currently up to 4/5 and is still increasing.
If Vietnamese businesses do not grasp the power of digital transformation soon enough, they will begin to face problems. According to the report of Digital Marketing Vietnam 2019, there are 64 million Internet users out of 97 million Vietnamese, about one-third of Southeast Asia’s GDP is derived from industries such as cloud technology, 3D printing, and robot. Unfortunately one of the big problems is that many companies that don’t really convert numbers will be crushed by their own weight.
About InApps Technology
InApps Technology is more than a software development company—it is a dream of Vietnamese developers. Our passion for technology inspired us to start InApps with the desire of helping Start-ups and SMEs successfully utilize technology to growth hack their business.
We are an outsource and offshore software development company to help international clients increase their software development capacity and efficiently turn their ideas into working products, in terms of cost-effectiveness and low attrition.
Learn more about our digital transformation solutions: https://www.inapps.net/services/digital-transformation-solution/