Business owners and managers are beginning to realize the multitude of challenges that arise out of manually running a business, regardless of whether they are a big corporation or a small and medium enterprise (SME). As a result, more companies are embracing digitization to be at par with their competition.
The digital makeover is the act of transforming business processes through automation and innovative digital solutions, to increase the productivity and efficiency of the business. The Singapore government has launched the SMEs Go Digital programme to guide local SMEs in the process of their digital makeover.
Automation and digitization increase the efficiency of workers as well as the internal processes of an organization. Furthermore, they create a new avenue to engage with customers, allowing businesses to obtain feedback. Digitization lowers the risk of human errors that may arise from manual or paper-based processes. Lack of automation causes customer dissatisfaction and ultimately, negative financial impact.
Why is a digital makeover necessary?
Whether you like it or not, today, a digital makeover is inevitable. Embracing digital transformation is more than just an upgrade of a company’s technology and process efficiency; it’s proof of new leadership and organizational culture.
Here are some reasons why a digital transformation is unavoidable across the entire business landscape:
- Consumers are going digital- Changes in consumer behavior drive the demand for digital innovation. As of January 2018, more than 4 million Singaporeans are on the Internet. With this, their expectations are evolving in tandem with their online behavior. Not to mention, millennials, the digital natives of today, have a significant impact on general consumer expectations. They expect companies to remain relevant and continuously reinvent their offerings.
- The competition is real and should not be ignored- Many businesses today are going digital, and this is because they are receiving help to do so. They are exploring various initiatives to improve their digital access. In light of this, companies that resist this change and continue with the traditional ways of doing things are bound to get left behind.
- Going digital adds value to your business – By employing advanced digital solutions, a company would be ahead of its counterparts that are still using manual processes. Technological solutions also allow employees to work remotely and on-the-go. Additionally, they allow managers to easily obtain real-time updates and information on the latest developments within the company.
How can a business owner know when to go for a digital makeover? Below are a set of questions. If the responses to most of them are in the affirmative, then it’s time to revamp their business processes.
- Are you struggling with customer experience?
- Are you experiencing lost and uncalibrated tally of your reports and inventories?
- Do you struggle with file management and organisation?
- Are your employees spending too much time processing paper works?
- Have you encountered complaints when it comes to delivering to customers?
Staying ahead of the latest trends is vital to keep a business running. Business owners need to dive into the digital age and open doors for new opportunities.