Digital Transformation is a term we hear ever so often, but what does it mean? How does it benefit your company?
If you search for the term “Digital Transformation,” you’ll get a multitude of definitions, but for the sake of this article, we’ll define it as the “ongoing holistic and comprehensive process of changing the mindsets, attitudes, and cultures of a company to fully utilize the opportunities of digital technologies with the future in mind.” This means that despite its digital aspect, there should be a constant leadership that directs this, and a team that supports the transformation to improve the company.
While there are a lot of benefits that a company can reap from undergoing Digital Transformation, here are some of the benefits that we can get from it:
1) Improved Efficiency and Productivity
Data is the heart of businesses and without it, your company is set-up to fail. By undergoing digital transformation, you disrupt your usual workflow and can set-up mechanisms that provide immediate feedback that can be turned into data and after analysis, can become actionable insights that will improve company processes and productivity. If, for example, you have a company that delivers goods, you may introduce a GPS system that tracks deliveries in order to measure how long it usually takes from your warehouse to the delivery point. By doing this, you can gather your data and find more efficient ways for certain deliveries, predict certain delivery trends over time, and create comprehensive reports for your clients, among other things. But this doesn’t stop with just technologies being adopted. Regular feedback systems for your employees can help you indicate points for improvement at your company.
2) Lesser Environmental Impact
Technology is getting cheaper by the day due to constant scientific progress and innovation, and the best thing about emerging technology is that it strives to reduce the ecological footprint of your company. There are also some policies that allow the adaptation of technology to create greener businesses locally, such as the passage of the Telecommuting Act. This marriage of technology and policy makes it possible to run your businesses on with less costs since people are working from home, and according to Forbes, it also improves your workers’ productivity.
3) Easier Collaboration
Digital Transformation challenges companies to keep in touch with today’s technologies and to think out of the box when it comes to expanding their businesses. One strategy that is underutilized when by brick and mortar business is the ability to collaborate. Although collaboration is prevalent in the fashion industry, other companies still haven’t followed suit. With technology allowing us to communicate better through the internet, it’s going to be easier to find like-minded businesses to boost your brands by pursuing common interests and leveraging the strengths of both your brands to improve them by completing projects with each other’s help.
Recently, the Philippine Council for Industry, Energy and Emerging Technology (DOST-PCIEERD) named the 15 pioneer grantees of DOST’s Start up Research Grant Program. This program enhances and encourages the potential collaboration and partnerships among businesses and the government. DOST has been promoting collaboration through Science and Technology through its projects and programs.
In a continually competitive world, Digital Transformation is a challenge that every company should face so it can survive. If you haven’t started your transformation yet or want to begin, pay us a visit at www.dostv.ph.
For projects and programs that you may want to check out from us, log on to www.dost.gov.ph.
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