Business goals

7 Achievable Business Goals Through Digital Transformation

By embracing the power of modern technology and the Internet, organizations can improve their business processes and achieve greater efficiency. However, your business may not be ready if you haven’t established clear goals for digital transformation.

Photo courtesy of Norbert Levajsics via Unsplash

Is your business digitally transforming? Research shows that 91% of organizations have or will have a digital-first business model. By embracing the power of modern technology and the Internet, organizations can improve their business processes and achieve greater efficiency. However, your business may not be ready if you haven’t established clear goals for digital transformation.

Before setting goals that align with your vision, you must first understand digital transformation. The transformation will begin to affect four main areas of activity: your processes, your business model, your domain and your corporate culture.

What is digital transformation?

Digital transformation refers to the use of digital technologies in your organization to improve its operations. The meaning of transformation may differ for each organization. However, you can do this successfully by starting with a strategy to redefine the four main areas of your business.

A digital strategy doesn’t mean you’re only looking to go digital; it means you need to transform your business as a whole. So you have to ask yourself why you need to change, what you need to be successful, and how you will get there.

Digital transformation will benefit your organization if you adopt the latest digital tools. It helps your business prepare to perform tasks more efficiently, hire new talent, transform corporate culture, and orient current employees.

To follow the path of digital transformation, here are the main objectives to help you succeed.

1. Boost collaboration

Digital transformation begins when everyone is involved in the process. Your first goal should be to increase collaboration between employees across all departments. When you facilitate collaboration, you help your employees connect with the main purpose. Ultimately, you have people working together to achieve the end goal.

According to a survey, 39% of employees say their organization is not collaborating enough. Only 9% of employees felt their company had effective collaboration tools and systems.

digital tools such as Trello can help teams collaborate and stay organized on project management tasks. Then there are apps like Zoom Where Google Meet that allow people to connect virtually, hold meetings and brainstorm new ideas.

Once your organization adopts a collaborative mindset, employees can share their expertise and increase their productivity.

2. Improve employee performance

Digital trends and technologies can disrupt businesses. Hence, it requires expertise when adopting digital tools in your industry. Thus, preparing your employees for new tools and technologies will help them respond to changing market demands.

For example, you can use software to organize and deliver products or services to deliver quality and become more efficient. AI (artificial intelligence) and other innovative tools can transform your business by helping employees focus on their tasks and improve their productivity.

3. Gain efficiency

One of the ways to achieve digital transformation is to increase efficiency. Using digital tools and technologies, you can automate tasks through a digital process. These tools help businesses develop automated processes and solutions to streamline ordering, customer onboarding, and more.

When you start to gain efficiencies, you add more value to your services by creating a seamless process and meeting customer needs.

4. Build a new business model

Empowering your business through digital transformation means you will need to replace your old business model with a new one. A good example of this is UPS. Its transformation took it from a package delivery company to a technology company. It involved synchronizing its operations and logistics strategy with digital tools to meet customer demand.

The two biggest challenges UPS faced regarding the customer experience were fast deliveries and real-time tracking. Now the company can have a new business model by effectively using AI and big data analytics.

Companies have many opportunities for growth when implementing digital transformation and redefining their business models.

5. Become nimble

Achieving agility in your business helps facilitate rapid decision-making, employee empowerment, and adaptation to a new environment. However, a new skill only appears when preparing teams to adopt a new mindset.

For example, teams must have constant communication, collaboration, trust and flexibility. Achieving a digital mindset stems from an agile mindset and helps businesses thrive in a digital environment.

6. Develop a competitive advantage

Anyone can run the risk of being outmaneuvered by their competitors. In a world of fierce competition, pressure is pushing organizations to make digital transformation a priority. Businesses embracing powerful technologies like AI and cloud-based applications are making workflows seamless.

Once a business is ready to go digital, it stays ahead of the competition by increasing revenue, employee productivity, efficiency, and customer satisfaction.

7. Achieve digital maturity

Digital maturity should be the end goal when achieving digital transformation. When you move your processes with digital technologies, it means you understand how to implement the changes. Going forward, you will create a DMM (Digital Maturity Model) in which you will assess your company’s digital maturity level. Businesses can use DMM to unlock higher level goals.

Organizations that apply digital maturity have many benefits. For example, companies reaching digital maturity focus their culture around innovation and creativity— leading to growth and the ability to measure success.

In reality, 45% of companies with greater maturity experienced revenue growth.

Achieve digital transformation

Embracing digital transformation can do wonders for your business, but only if you strategize first. Using digital tools and technologies alone will not be enough to successfully transform your business. The whole company must be involved during the process.

Once you complete a digital transformation in your business, you will positively impact your products and services by achieving the goals listed here. As a result, your business stays on top of the competition, maximizing its profitability.