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Why Digital Transformation is the need of today’s business?

With increasing complexity in the business environment, it is challenging for businesses to sustain their current customers and position in the market. It is the era of digital transformation, where every company needs to digitalise their processes as well as reduce inefficiencies. This leads to the following thought-provoking question. What is the hype of this digital transformation?

Is your business delivering goods and services on time? Are you delighting your customers ever growing expectations? Is your business cost-efficient? Are you increasing the efficiency of processes constantly? Will you sustain and grow in the current and future markets?

So how are businesses answering these questions?

Businesses are evolving into Digital companies. They are beginning to get an understanding about the need to evolve in order to survive in their market.

According to a survey conducted by Microsoft and Harvard Business Review Analytics, more than 61 % of the companies participating in the survey suggested that they are considering this transformation.

Lagom Group - Digital Transformation

Digital transformation is gaining popularity in each industry and size of the business. Ranging from Small to Giant corporate, it is in everyone’s radar. Furthermore, executives also suggested in the Forrester Research report that by 2020, 50% of the company’s revenue account of digital automation.

What does Digital Transformation mean?

Digital Transformation does not have a single meaning; it has a number of definitions varying from industry to industry and business to business. However, one simple explanation of digital transformation is the integration of digital activities into the business processes. Automating the procedures in order to increase productivity as well as enhance the customer experience. There is no single formula; it varies from business to business.

Digital Transformation helps in the enablement of customer experience/quality, employee workflow, service betterment, operational activities as well as distribution aspects. It gives the business a platform to reach out to their customers and suppliers more effectively and efficiently. Digital transformation can and should result in more transparency, connected, measurable customer experience, and better operational outputs.

According to IDC Research, a 42 percent increase is expected by the end of 2019 in the spending of digital transformation, reaching to a number of $1.7 trillion.

How can Lagom help you in this transformation?

Our role is to assist in transforming your business. We have the expertise as well as understanding of bringing this change for your success.

Our services associated with Digital Transformation span:

  1. Engagement of executives and organisational leaders to obtain clarity around the organisational direction
  2. Formulation of strategy and plans to enable the digital transformation with a focus on compliance, quick wins and more strategic/competitive enablers
  3. Delivery and Enablement of the digital transformation plans while ensuring the risk is understood as well as effectively managing it. This includes management of the often numerous vendors involved
  4. Transitioning the project into Business as usual to enable operational efficiencies to be realised