WHY DIGITAL TRANSFORMATION
The reason that you have to be digitally transformed is because, even if you do not become Digitally Transformed, your Competitors will!
The National Center for the Middle Market’s recent survey, reported that companies had an average revenue growth of 6.7% and were positive about 2018. The mid-market leaders are confident in their ability to deliver next-gen IT systems and would have a budget allocated on getting it right to meet the priorities for growth, security and reducing operational costs.
Another survey by Node4 of 200 IT decision makers from mid-sized firms (with a turnover of between $18m and $900m) revealed that the IT leaders have an average annual IT budget of up to $12m. Furthermore 64% of mid-sized businesses were expected to increase their IT budgets in 2018.
There’s too much evidence around you that you simply cannot ignore it!Digital Transformation initiatives have resulted in a whopping
- 75% lift in engagement
- 63% improved Customer Satisfaction
- 53% Higher Traffic
- 49% increased Lead Gen / Sales
- 46% greater conversions
Top 3 Reasons for Digital Transformation
With the pace of digital change rising exponentially, companies face an increasingly challenging environment to maintain a position of industry leadership, requiring them to engage, embrace and adopt new ways of working with the latest and emerging technologies. According to a Forrester Consulting Research study, the key drivers of Digital Transformation are profitability, customer satisfaction, and increased speed-to-market. And when asked about their strategic priorities over the next year, their topmost priority was “improving customer experience,” followed by growing revenues, improving differentiation and reducing costs.
Companies are under ever increasing pressure to compete digitally, and born digital start-ups are disrupting long established business models, which still increases the need for Digital transformation, to build a sustainable competitive advantage
Today’s hyper-connected customers experience intuitive, relevant and seamless digital interaction across a broad spectrum of brands and they expect the same from you – you need to ensure seamless and connected customer experiences across all touch points.
What if we just keep going as is?
No organization will collapse overnight by ignoring Digital Transformation. However, market position will start turning favorable towards organizations and start-ups that are transforming. Additionally, companies with legacy technologies face challenges with recruiting and sustaining talent as employees look to take their experience to those organizations that offer better employee experiences and are more successful.