Digital Transformation is changing how businesses work. A business has more information available to them now, 24 hours a day, 7 days a week. There is advanced analytics, machine learning and artificial intelligence. However, getting your company to transition to using this data and being comfortable with the digital tools available may take some changes to your business as well as some time. Once you get your team to adjust to the digital age, and to using the tools, the benefits will help your business grow and transform.
Some benefits of digital transformation are listed below:
Better Data for Better Decisions
One of the major benefits of digital transformation is the data available for your business. The amount of data and the sources of data. You can find data on your customers, sales, and how your systems are performing. This digital data can be successfully used for decision-making. These decisions may include: how to market to your customers based on the demographics of your major customers; which products to invest in; or which products to switch resources from. These are just some decisions that can be done using the digital information that is available to you.
Increase Customer Engagement
With digital information, customer engagement will change. A customer can be reached via social platforms and networks such as Facebook, Twitter, Instagram. They can be reached via email, chat with many types of applications such as Slack, Teams, Zoom. Engaging a customer can be done via blogs, video, or social media. Knowing a customers’ preferred method of engagement can be noted and used for relationship building.
Optimize Supply Chain Management
Having information in the digital age helps with supply management. A company can tell when they have peaks and valleys in their supply chain. Perhaps in the winter time, a company will not sell motorcycle parts to customers in Alaska, but will sell more to those living in Florida or California. Though this might make sense, a company can use data to confirm this type of information.
Perhaps a food company sells more hot dogs in July. This might be because of July 4th celebrations, but again, data will help verify this is true. The data will help team members know which customers are in need of more hot dogs in July. The company can prepare for this event based on data or digital information. Data will enable companies to plan for events and peaks and valleys in their supply chain more efficiently.
Companies such as TMC can help you transform your business to use a digital solution. We have many tools available for a digital transformation. Team up with a certified Microsoft Gold Partner to make your migration to the cloud seamless. If you have any questions regarding Dynamics 365 or other ERP/CRM systems, you can contact us here.
“86% of CEOs say digital transformation is their number one priority,” reports a recent Price Waterhouse Cooper study.