business

May 21, 2020   |   5min read

Digital Transformation for Business—Where to Start?

What is digital transformation for business?

Different companies and experts understand digital transformation in their unique way. Whatever definition you are familiar with, it boils down to the fact that digital transformation is about using the right digital processes and tools to make your business better.

Back in the day, we started by digitizing writing, then music, video. Later, we moved onto digitizing products. Nowadays, it’s not so simple—it’s not only about making the next mobile app, or a subscription model. It’s also about digitizing the core of your operations in order to stay in the market and keep both your clients and employees happy.

A truly digital company leads to better communication (and therefore engagement) of employees, greater business flexibility, resilience to rapid market changes, and—everyone’s favorite—increased revenue.

If you’re late to the game, here are some tips and inspirations to get you started with digital transformation of your business model.

Working on a digital transformation strategy.

How should you approach your digital transformation strategy?

Digital transformation of companies has been the reply to the inevitable, slow change. People were always going to work differently than a decade before, consumers were going to buy and consume products in other ways. However, with the recent COVID-19 outbreak the change started happening rapidly, giving businesses uncertainty of what’s going to happen next. Those who had their digital strategy in place before the pandemic are probably sleeping better now. But, it’s never too late—and as the history shows, whether because of the pandemic or not, digital transformation strategy is a key factor in survival for most businesses.

Here are some tips on how to approach your digital transformation strategy:

  • Check your portfolio—take a step back and try to assess what’s working for your business and what isn’t.
  • Assess your business value—if your business is currently not reaching its full potential, perhaps there are other ways of delivering the same value to your customers. Is there a niche in the market you’re not seeing?
  • Set the right goals for your digital transformation and ask yourself why do you want to do it. To improve market share, to remain competitive, to provide better service for your customers, or, perhaps, to improve internal processes?
  • Know your competition—where are they succeeding and failing?
  • Invest in discovery-driven innovation—don’t bet everything on one card at once. Iterate, learn, release an MVP, see what works and what doesn’t. It’s especially important now, in the COVID-19 times: don’t respond to change drastically, start slowly and learn from the data you get.
  • Focus on digital transformation of your infrastructure—not only on going digital with your product. For both cases you should consider investing in cloud-based solutions: they will ensure flexible working practices, scalability, security, automation and, eventually, growth.
  • Get the right tools—think of what will bring value to the work environment and business: better servers, network, virtual collaboration and communication software (especially crucial these days), office equipment etc.
  • Get tech-savvy leaders on board—to help you guide the digital transformation for your business.
  • Pick a trusted tech partner—a development studio that has a lot of experience in your technology or field, and has an agile approach to running projects.

Companies and digital transformation—who did it right?

For “lessons learned”, success stories and inspiration check out these companies who approached digital transformation from the right angle:

Peloton streaming platform allows for workouts at home during the pandemic. Source: Peloton press kit

What’s next—digital transformation services

One thing is certain: the pandemic has speeded up the digital transformation. Businesses that are not yet digital, probably won’t stay around for long. But, it’s not too late! As mentioned above—start slowly and work on the business core. Moving the infrastructure to the cloud is a huge step towards securing your business’s future. If you’re ready to make your company digital—get in touch! We have Apache committers, GCP Architects and DevOps on board who will walk you through it.

Sources:

Ula Rydiger

Senior Communication Specialist

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