Digital transformation: the innovative step forward
2020 has undoubtedly been a year of change and forced many businesses to rapidly adopt new practices and operational models; from HR to marketing to finance. At the core of these changes has been technology, enabling and supporting remote working practices, streamlining processes, improving efficiencies and adding value at a time when businesses needed it most.

As the new year unrolls, organisations need to give greater emphasis to their digital transformation journeys, embedding it within all areas of the business and using data to drive actionable insight and excel top-line growth. 

Organisations can exploit the potential of technology much more effectively to improve sales and marketing campaigns, reduce financial reporting headaches and retain and attract talent throughout 2021.

The rise of digital transformation
‘Digital transformation’ has been a phrase adopted by many businesses over the past few years and has unquestionably been the focal point of many heated boardroom discussions. But there is now little excuse for businesses not to adopt digital technology; this year digital technology should be embedded within all areas of the business to ensure that customer expectations are being met and value is being delivered not only effectively, but efficiently. 

Successful digital transformation clearly requires a cultural shift; employees must recognise that changing processes and challenging embedded practices might not be easy, but that it is extremely important and necessary in order to meet business goals and drive services to the next level. 

Furthermore, in order to be successful and, importantly, ensure ROI is achieved, digital technology must be embedded within every department and not siloed to purely product development or IT where strategies are likely to be deployed first. Instead, the processes within every department, from finance to HR to sales and marketing, must be transformed and reviewed to ensure that technology is making the department, and therefore the entire organisation as efficient as possible. 

Benefits across the business
With an organisation-wide approach to digital transformation, the true benefits can really be recognised. In the finance department, for example, the company’s financial reporting processes can be transformed with a data-driven approach, removing the headache of manual, time-consuming data input and analytics and instead freeing up time for other important tasks such as forecasting and reporting on results to senior management with visual, easy to digest data dashboards. 

Similarly, the HR department can use a data-driven approach to take the guesswork out of its recruitment decisions and instead ensure all new hires are based on desirable characteristics of existing employees. By profiling the standout or rising star employees within the business and understanding what key attributes these employees have, HR and recruitment teams can ensure they are attracting talent that will really fit into the business and contribute to its goals. Furthermore, embedding digital technology in the HR department and adopting a data-driven approach will not only help to attract the right talent but also retain talent, which in the current turbulent climate is extremely important. 

Digital transformation is just as vital within the sales and marketing teams. Removing manual data reporting on lead generation and marketing campaigns, for example, will free up time for the sales and marketing teams to focus on other activities such as how to attract and convert more sales leads or how to increase engagement on social media channels. With a digital-first approach within these departments too, the organisation can become far more strategic in its approach to attracting and winning new business and will be in a better position to meet its business objectives.

Putting data and technology first
Digital transformation is certainly not a new concept, but it is something that many businesses still need to recognise as a vital step forward. Overhauling systems and changing processes within the entire organisation might seem daunting and getting started is certainly not easy, but with recognition amongst every team that a data-driven, digital-first approach will bring significant rewards for the future of the business, the change can be readily adopted and the transition can be seamless. Businesses might not always get it right the first time, but learning lessons and failing fast with a quick recovery will bring long-term benefits.

In almost every case of digital transformation, the wheel does not need to be reinvented, so the next digital transformation step can be made with confidence, thanks to those that have cleared the path. As 2021 continues, it’s time for organisations to take the leap and make their businesses truly data- and technology-driven.