Traditional organizational structures, with disconnected departments, don’t realize that great customer experience and unprecedented revenue boost comes from real-time collaboration. Irrespective of their size, businesses need to implement emerging technologies for a faster and steeper growth curve. Transforming legacy operational methods to a digital enterprise sooner than later is imperative for businesses to survive today.
The Digital Enterprise in a Nutshell Organizations that use digital technologies to improve operations; connect to customers using technology platforms; and use data inputs to analyze and improve offerings can be called digital enterprises. A digital enterprise is any company that uses a mix of technologies to increase productivity and improve client engagement. The digital enterprise, today, besides having a competitive advantage is seen by the C-suite across industries as an enabler that directly contributes to business growth. However, most companies lack a sound, long-term strategy to become a digital enterprise and may buy tech without taking stock of their organization’s needs. Major factors for a digital enterprise Here are some pointers to ensure the strategy for turning into a digital enterprise is effective: • Organizations have multiple functions to digitize. For a digital enterprise, it’s critical to decide which functions need to be digitized on priority while adding the most business value. Accordingly, tools can be implemented for Marketing, Sales, Operations, Human Resources, Customer Service or any other function. • Also important is to consider the top aspects within each function to transform first on the path to becoming a digital enterprise. • A digital enterprise provides an omni-channel customer experience, and for this, functions undergoing tech revamp need to operate in harmony with those that are not. • Businesses also need to regularly track the revenue impact of turning into a digital enterprise – cost of technology purchases, time to adapt to digital interfaces for customers and employees, how optimized the technology usage is, if any other vendors are offering better digital experience or capabilities etc. Adopting digital technologies to breakdown silos is, and will be, the biggest reason for organizations to become a digital enterprise, especially for global businesses. However, the leadership’s role in making data-driven decisions and ensuring structured governance is the foundation of a digital enterprise.
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