Digital Transformation New Era of Business

Digital Transformation – New era business seems to be the need of every business stakeholder, both small and large scale. The changes due to Covid 19 have made many business sectors shift and focus on digitalization. In 2021 alone, the technology industry has increased by Rp. 2.1 trillion and continues to grow.

So this opportunity must be fully exploited and optimized. Then, does your company understand digital transformation? If not, see the full explanation.

Understanding Digital Transformation

In simple terms, digital transformation is more about using technology to change the market business, previously already running or creating a new business. The Enterprises Project explains that digital transformation is affecting fundamental changes in the overall ongoing business operation.

At this stage, companies starting to implement digitization will provide more value to their clients or consumers. Through these stages, digital transformation is much easier, especially in terms of effectiveness and efficiency.

So, the concept is not only about using technology but rather about existing optimization.

In the future, digital transformation will continue to develop and cover various existing aspects, but currently, the technologies that are in demand by the public are the Internet of Things, Cloud, and big data.

Why Should You Get Started?

There are many reasons when a company should embark on a digital transformation. One of them is that many global companies are implementing the system. Almost all start-up companies start optimizing and abandoning old business models to develop existing businesses.

Several big brands have also implemented a comprehensive digitalization system, thus focusing more on new business models. Companies that have implemented digitalization will be far superior, especially in operational efficiency. If your company wants to achieve this target, start welcoming the digital era.

Reasons for Digital Transformation

The International Data Group (IDG) explained that the important thing for digital transformation is IT security enhancement, customer retention, and more controlled costs. Here is more discussion.

1. Technology Security

The presence of digital transformation does provide many benefits and opportunities for new businesses. But behind the advantages provided, technology has a big risk in terms of existing security. Cyber ​​security is an important point that must be optimized and carried out thoroughly.

Thus, digital transformation must improve existing technology to be able to compete and remain productive without problems.

2. Consumer Retention

Times have changed, technology has a significant impact on all these conditions. Can compete in change, digitalization has the right role. Especially in improving customer experience.

The conventional way is no longer the right choice, adaptation is a new key to unlocking the desired target market. For this reason, digital transformation provides the right picture in expanding the company’s business for the better. Moreover, if you use modern technology, the behavior of your customer  both offline and online can be more easily understood.

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3. Cost Control

Digital transformation has a positive impact, especially in controlling costs in the business being run. This is interesting for business people to see because it provides the right impact to optimize the running of the company for much better performance. Therefore, the business you run is much more optimal.

If you want cost efficiency, digital transformation is one of the most attractive for you to maximize.

Forms of Digital Transformation

The MIT Sloan Management Review website explains that there are three business models related. What they are? Read the full explanation.

1. Improve Customer Experience

Customer experience is a crucial point in improving the progress of the managed business. To make it easier to understand, the help of technology provides many advantages. If your company begins to consider digital transformation, it can increase the number of customers.

These affect more scalable and broad customer touchpoints. This form of business is starting to be in great demand by business people.

2. Ease of Operational Process

Operations that are getting easier and more practical make it easier for employees to improve their work performance. The impact that is present is that the business that is run will grow faster. Digital transformation requires employees to be able to master and operate various equipment in the managed business.

Especially in digital tools and using data to make various business policies.

3. Business Model Changes

A significant aspect is changing the direction of the business and focusing on digital products. So that they offer provided will use technology for a wider product range.

Advantages of Digital Transformation

1. High Mobility

Almost all walks of life are not far from smartphones and other devices connected to the internet. Companies must adapt to these changes. Excels in providing business models that can attract new markets.

Through a broad market, digitization provides many benefits for business progress.

2. More Secure Data

Makes companies more aware of some of the data in their business. Commitment to data security builds business trust. Thus, data is an important asset.

3. Increase Productivity

The work process carried out will be much easier in increasing work productivity. This is because technology and several tools are present so that everything will be much easier to obtain. Pulling again the cost of employees can be reduced.

4. Able to Compete With Other Businesses

Amid digitalization, your company can provide added value to existing businesses and compete in other industries. However, behind this position, you can adapt and use some of the latest tools.

How can Double M help ?

Double M is providing market entry solution services in South East Asia. Should you have any inquiry, please contact us at info@double-m.co