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Digital transformation is a strategic business transformation to revolutionize business processes and deliver an exceptional customer experience leveraging technologies. Typically, it entails a fundamental redesign of core business components—technology and infrastructure, business processes, customer experience, and organizational culture.
It takes time, and it can fail. In fact, only 30% of digital transformations succeed. However, if you do it right, you can capture substantial returns.
Increased operational efficiency, business resilience, and data-driven decision-making are only a few benefits you can gain through digital transformation. The true digital transformation is going to change how your customers interact with you. And it's going to change how your employees work each day.
At Ventive, we help businesses move through digital transformations faster and more effectively. We know the iterative cycles and production process it takes to set your digital transformation up for success.
Even in the age of AI, Machine Learning, and cloud computing, many companies are stuck on the back-office processes that are too manual to scale. This diminishes employee productivity and kills operational efficiency.
According to research by PwC, the average employee makes 10,000 copies or prints each year, costing a business up to $1,200 per year. Not only are there costs for the paper itself, but there are also significant costs for storing, copying, printing, or mismanaging the documents.
In terms of time, companies lost an average of 4 weeks waiting on misfiled, mislabeled, untracked, or lost documents, according to a Gartner study.
Many companies have accelerated their digitization by minimizing the use of physical papers, especially when COVID-19 hit. However, in our eyes, most companies haven't taken full advantage of paperless operations.
Shifting from paper to digital is the first critical step in digital transformation.
Digitization makes the data accessible to every function of an organization, which ultimately increases cross-functional collaboration and enables companies to provide a better customer experience.
For example, your customer might ask where their order is, or the status of their accounts. Would you be able to answer the question quickly if the customer information lies in separate paper-based documentation?
With a digitized platform, any representative can easily access the historical customer interaction data (e.g., chat history, offline visits, or past purchases) in a matter of minutes. This connected data enables companies to give a transparent and seamless customer experience.→ Ace the best customer communication with our experts
Manual, repetitive tasks such as data entry can be inefficient and, frankly, boring for the employees that have to do it. People are more prone to make mistakes with tedious and exhausting tasks.
If you rely on your employees to tie in all the disparate data stored across multiple systems and data sources, paper documents, databases, and spreadsheets for reporting, it can create lagging reports, taking up to weeks to update. By the time these reports are distributed they are already old.
In short, you might be wasting your employee's time updating an already “outdated” report. Instead, you want to shift their focus from manual tasks to thought-based work where everyone produces meaningful work. This will get you the optimal productivity and win your employees’ satisfaction.→ Drive maximum employee productivity with our experts
Digitizing documentation can not only drive optimal productivity and efficiency but also enable businesses to keep critical information far more secure. By eliminating hardcopy and paper documents, you can make the data more manageable.
You can quickly identify where personal/confidential information is stored with the digital file. You can also prevent your documents from being misplaced or lost. This allows your organization to put cybersecurity measures in place for data storage, dataset, or files.
Moreover, digitizing documents will help you better restrict and manage access to sensitive information. For example, you can authorize different access permission levels based on your employee's function. And you can always trace back the historical updates on the document (e.g., Emily changed the customer’s credit card information via call at 5:30 on May 20) since the digital footprints will not disappear.→ Develop secure environment with our experts
Don’t let your paper process kill productivity. Build a software solution designed just for your team.→Discuss your ideas with our digital experts
Digitally transforming a healthcare organization requires patience and a commitment to the future of the company. Sometimes, current practices seem to work on the surface but digging deeper it becomes apparent the need to evolve in order to handle rapidly changing requirements.
According to Mckinsey, 45% of work activities can be automated using existing technology, and 83% of IT decision-makers believe workflow automation is essential to digital transformation.
By moving away from analog/paper documents or the legacy system that has been costing you thousands for band-aid solutions, you can re-architect your processes that drive the desired outcome you have been seeking.
What’s important to note here is that there’s no cookie cutter roadmap for process automation. Because every company has a different organizational structure, digital maturity level, and existing processes, you need to figure out your own journey to achieve your goals.
So, how can you identify the right process automation for your company? The first step is to analyze your existing process and redesign the ideal process that increases the effectiveness and efficiency from scratch.
Process automation requires more than simply changing the tools to enhance or support your traditional business style. It requires the complete redesign of your process.
The professional digital transformation agency can help you quickly identify the opportunity just for your business to drive optimal productivity and develop scalable solutions that fit your specific needs.
Digital transformation can be daunting, and companies frequently struggle to deliver tangible results. Ventive achieved a 100% success rate on our client's digital transformation. We have a way to get you there.
Is your current technology burning up your IT budget with little to no return? Technical debt occurs when an easy (but limited) solution is chosen instead of a costly solution that will solve the underlying problems in operational processes.
Band-aid solutions like fixing and patching legacy systems can quickly consume the IT budget. This will ultimately sacrifice the resources that could have been used to boost operational excellence or strengthen your digital offerings with improved processes.
The Former CIO, a major cloud provider captures it well “By reinventing our debt management, we went from 75 percent of engineer time paying the [tech debt] ‘tax’ to 25 percent. It allowed us to be who we are today.”Overcoming technical debt is a huge win.
The right process automation will allow you to capture data at a more granular level. It will allow your employee to get real-time, practical recommendations from the system and stay focused on what matters the most.
For example, with a proper automated system in place, your employees might receive a notification like “customer retention rate went down by 35% after a service update!”. With this recommendation, the employee can quickly dive into the data, draw a hypothesis on what went wrong, and work towards improvement.
By focusing on solving problems based on automatically generated data, instead of collecting, sorting, and measuring data (with many human errors), your organization can draw much faster, and more effective decision making.
Are you relying on back-office processes that are too manual or too expensive to scale? As you face the increase in clients, sales, and production, you will need more sophisticated technology or automation to handle more employees.
Implementing the right technology to achieve process automation will ultimately boost the business's scalability by quickly meeting the needs of additional functionalities or integrations with emerging technology.
Leverage world class cloud-native, AI-driven, web-based platform for end-to-end automation
Integrating digital technology into all aspects of business is the shortcut to allow you to make your dream application/ technology solution into reality.Let’s connect
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