The Power of Business Transformation
You may already have a be planning to create a business can respond to the pace of change, and also increase your business opportunities and know this will rely on a business transformation process. It’s apparent that the real power comes from the response of the business and willingness to respond to a threat or opportunity perceived in its environment with transformative action. That very determination to respond and meet the challenges through a business transformation process is powerful and creates more power and momentum in its wake.
The power that business transformation will give your business is multidimensional. Leaders understand that transformation is an investment in your people, processes and technology and in the future and aspirations of your business and so business transformation is indispensable.
Of course, the business transformation process may entail business model change, new technology or digital operations but will help to build a powerful, responsive and above all a business that is fitted to be competitive for the times ahead.
Business Transformation Drivers
The world is changing faster and faster, and business transformation is important because it is the thing that will help your business rise to the challenge these changes present. Studies have shown that digital transformation for example, is an existential issue for Small to Midsize businesses, so considering how to make that change now is a matter of urgency.
A primary aim of Business transformation is to take actions and initiatives that realign your operations, people and processes to your new business vision and the strategy to take you there. Transformations are actions businesses like yours take in order to survive, grow and then thrive. They do it to create opportunities for their business or take advantage of opportunities they have spotted in the marketplace. They also do it to grow more efficient, to get more reach and more power. There are very good reasons to do it but the process can seem daunting.
The Rise of Transformative Technologies and Your Business
The focus has to extend beyond these initial concerns because workplaces are seeing transformative technologies cropping up at a dizzying pace and need to understand what they need and what would help their business agenda. There are innumerable opportunities for internal and external for collaboration and interaction with suppliers and customers. Digitalisation which is a definite opportunity can appear both an inscrutable opportunity and a nebulous threat, but as larger organisations are increasingly investing vast amounts in technologies that help them capture, transform, disseminate and analyse and disseminate data, it is a clue that smaller companies need to take note of and imitate. Technology is changing the landscape of business, so organisations who want to grow and compete need to be in the race, but they need to equip themselves for that race, or risk being overwhelmed by it. There is undeniable power in transformation but it must be grasped and channelled to meet your business’s needs.
The Power that Transformation Puts in your Hands
The mobile phones we all carry around have computing power that exceeds what was used to send the first rocket to space. The ordinary person has tremendous power in their hands which gets them information, access and expertise at speed and experience the whole in a myriad of different and dazzling ways. This means that their tolerance for delays and waiting is very much diminished and expectations of the quality and depth of experience are elevated.
The ability to do a lot across a range of applications and tools is important to customers and your business transformation process will markedly increase your business’ capability to provide optimal customer experiences and extended services for suppliers and customers.
Productivity gains and frictionless real-time communications are important considerations for your suppliers as well as your customers. To galvanise your competitive advantage, your ability to collaborate with suppliers, distributors and other third parties that your business relies on is ever more important, as is the ability to create and transmit transactional proofs and artefacts electronically and seamlessly as part of the process. Engaging in a business transformation process would mean that transparency and efficiency, ever precious, can now go hand in hand, in the office and out in the field, from your employees to your customers and customers confirming receipt of goods for example to your employees or third parties, instantaneously.
Rapidity and Agility
Many businesses but especially those in the small to midsize sectors, are still dependent on too many manual processes, which with technology can be speeded up and made more effective overall through automation and integration of systems and functions.
Security capabilities that come from IT transformation will be welcomed by security savvy clients and is an extra value add or even a point of differentiation you can provide through the business transformation process.
Gives your customers choices
Your customers are becoming used to high levels of performance, and expect excellent and even entertaining customer experience and to be secure through the process. Delivering this and giving your clients and customers choice is something your business must gear up for operationally and is another type of capacity that business transformation can deliver.
Big Data and Digital Power
Your business generates prodigious amounts of data, and capturing, harnessing and extracting value from it is as important to your business in the long term as almost anything else your business might do. Defining a digital process and capability for your organisation puts your business in very strong stead to plan out other improvements with the digital process being central to enabling this by creating flexibility and scale in the process.
ations, a change to the operating model is called for.