1.5 trillion dollars were spent on digital transformation globally in 2021. It’s a gigantic statistic, but what is the actual value of digital transformation in your business?

Digital transformation is a significant trend that is impacting businesses across all industries. It’s a buzzword that’s taken over corporate boardrooms everywhere. But what exactly is it, and what is its true value to your business? Learn more about the digital transformation challenges and opportunities that will give your business an edge.

What is digital transformation?

It’s the integration of digital technology throughout all aspects of your organization. It profoundly impacts how the organization runs and provides value to your clients. 

It is a process in which technology changes how business functions and provides value to customers. Or, as we like to think of it, the process of turning your business into a well-oiled machine that can handle about anything the world throws at it.

But it’s not just about getting shiny new computers, servers, and top-notch software. Digital transformation can also help you save time and money, streamline your processes, and improve your customer experience. And who doesn’t want that?

Digital transformation challenges & opportunities – Why should your business take its time with digital transformation?

Despite the many benefits of digital transformation, some businesses may be hesitant to invest in it. True, radical changes may sound challenging. But not investing in digital transformation can have significant consequences for your business.

Digital transformation journey: Why you and your business shouldn’t stay behind in digital transformation?

Digital transformation brings excellent benefits but also many challenges. For that reason, we have prepared a list of digital transformation challenges, and opportunities that all modern companies thinking about taking the digital transformation journey of their businesses must face. These are the common digital transformation challenges for companies, regardless of their’s size or the industry in which it provides their services.

1. Loss of competitiveness


One of the biggest digital transformation challenges. Businesses that do not adopt digital transformation programs risk becoming obsolete. Customers want a seamless, personalized experience across all touchpoints, and companies who are hesitant to implement digital solutions may need help to meet this expectation. As a result, companies may lose market share to more advanced competitors.

2. Inability to adapt to change

Digital strategy allows your business to adapt to changing market conditions and customer needs. With it, your business may be able to keep up with the rapid pace of change in the digital world and avoid becoming obsolete.

3. Decreased efficiency

Technologies can automate many tasks, freeing employees to focus on more value-added activities. Not investing in digital transformation means missing out on these efficiency gains and incurring higher costs.

4. Poor customer experience

Additionally, with digital technologies, your businesses may be able to provide the level of service and convenience that customers now expect. This can lead to a decline in customer satisfaction and loyalty.

5. Talent shortage

Moreover, digital transformation challenges also apply to other non-technical areas of your organization. In today’s digital age, top talent often looks for companies that embrace technology and offer opportunities for growth and development. Businesses that do not invest in digital transformation may need help to attract and retain top talent. Take advantage of that talent opportunity!

Consequences of not investing in digital transformation

The consequences of not investing in digital transformation can be far-reaching and long-lasting. By failing to keep up with the rapid pace of change in the digital world, your business risks losing its competitive edge and falling behind its competitors. 

85% of organizations around the world are in the process of planning for digital transformation, according to a survey by IDC. Remember, digital transformation is a tailored and scalable process considering your budget and resources. Team hero/dot has worked in the past with diverse clients who had various digital needs.

Though, let’s get back to the topic of digital transformation benefits…

What are the benefits of digital transformation?

Investing in digital transformation can be intimidating, especially for businesses that need to be faster to adopt new technologies. However, the benefits of digital transformation far outweigh the risks, and the consequences of not investing in it are significant.

There are numerous benefits to digital transformation:

1. Increased efficiency and productivity

By automating digital processes and using and tools, your business can streamline its operations and reduce the need for manual labour. This can lead to cost savings and more efficient use of resources.

2. Enhanced customer experience

Secondly, digital transformation enables your business to offer personalized and convenient customer experiences. For example, a retail store can use customer data and analytics to create targeted marketing campaigns and recommend products to individual customers. 

3. Increased competitiveness

Companies that adopt digital transformation are better equipped to respond to the changing needs of their customers and the market. This can give them a competitive advantage over businesses that need to be faster to adapt.

4. Greater agility and flexibility

Moreover, with the help of digital tools and platforms, your business could quickly and easily pivot its operations in response to changing circumstances. This can be especially valuable in times of crisis or uncertainty, such as the recent COVID-19 pandemic.

5. Improved decision-making

In addition, with real-time data and analytics access, businesses can make informed decisions based on accurate and up-to-date information.

6. Increased innovation

Digital transformation can also open up new possibilities for businesses to create and deliver value to their customers. By embracing new technologies and approaches, companies can drive innovation and stay ahead of the curve.

7. Improved collaboration

New digital technologies and platforms can facilitate communication and cooperation between teams, even when they’re located in different parts of the world.

8. Greater scalability

Modern digital systems are often more scalable than their analogue counterparts, making it easier for businesses to expand and adapt to changing market conditions.

9. Enhanced security

Security is valuable. A digital transformation strategy can help businesses improve cybersecurity and protect sensitive data from cyber threats.

10. Improved sustainability

Digital solutions and processes are often more environmentally friendly than traditional analogue methods, assisting businesses in lowering their carbon footprint and increasing their sustainability. 

Examples of the successful digital transformation initiatives

Here at hero/dot, we want to be a part of progressive change – therefore, our goal is to help companies that work with us stay ahead of their competition. That is why we help our technology partners go smoothly through the digital transformation process in their companies. We helped companies like:

Legia Warszawa

The first example of successful digital transformation is one of the Polish football clubs – Legia Warszawa. We helped rebuild their official mobile app and improving fan engagement with new features such as a matching centre, calendar, home feed, and push notifications. The app was developed for both iOS and Android platforms and allowed for better user engagement, direct communication with fans, and a personalized and unified fan experience.

SHARE

In this case we developed an Android app for its retail partner, DM-Drogerie Markt, a major drugstore chain in Germany. The digital solution aimed to educate dm-drogerie’s sales assistants on Share’s products and 1+1 sharing initiative and was delivered within a 1.5-month timeframe. The core features included onboarding screens, a countdown timer, daily progress updates, a news section, FAQs and a QR scanner. The app was successfully delivered and is currently running on 16,000 dm employee devices, with almost 100% crash-free sessions and helped secure a partnership with the biggest drugstore chain in Germany.

BZB UAS

We assisted a Polish UAV startup in designing and developing an iPad app. BZB Planner, to control UAVs with ease and safety, making it simple for non-technical users like farmers. As a results this digital transformation initiative minimizes human intervention in flight operations. It also simplifies route planning and has a user-friendly interface with a clear app dashboard. It was extensively tested in the field to ensure high stability and has received positive feedback from BZB UAS partners.

To sum up

In conclusion, digital transformation integrates digital technology throughout an organization. It profoundly impacts how an organization runs and provides value to customers. Not investing in digital transformation can have significant consequences for a business, such as loss of competitiveness, inability to adapt to change, decreased efficiency, poor customer experience, and loss of top talent. 

Investing in digital transformation can bring many benefits, such as increased efficiency and productivity, enhanced customer experience, increased competitiveness, greater agility and flexibility, improved decision-making, innovation, collaboration, scalability, security, and sustainability. 

85% of organizations worldwide are planning for digital transformation, and businesses must embrace this trend to stay competitive and meet the changing needs of customers.

Want a technology partner with a proven record of launching a successful digital transformation journey? Let’s chat!