In today’s competitive and challenging business environment, digital transformation solutions become more inevitable than ever. Though many companies have embraced digital transformation and started gaining its benefits, some entrepreneurs still sit on the fence. They hesitate in adopting digital strategies due to the feat that these strategies might impact their budget negatives and deter their customers. Simply put, they have no enough confidence in digital transformation.
On one hand, digital transformation has opened the doors of innovation, and on the other hand, new technologies like Bitcoin and chatbots are prone to misinterpretation. We, at Silver Touch, have decided to debunk some most prevalent myths about digital transformation. Read on to know five common myths of digital transformation and their reality. It will help those who are yet to make the right decision to grow their business through digital transformation services.
Five Prevalent Myths about Digital Transformation Debunked
1. Digital Transformation will Hurt Budget
Let’s start with the most obvious concern for enterprises worldwide. Many entrepreneurs are concerned about the possible negative impact of digital transformation on their budget. It is a fact that digital transformation solutions need a big budget. But here, the more important thing is to consider how money is spent. Digital transformation services are designed to meet diverse business requirements and there is no need to implement all technologies in your business system.
For example, cloud-based technologies and other subscription-led services can bring digital transformation. These services are cost-effective and offer packages as per changing business needs. Every size of the industry can avail the advantage of these technologies without spending a fortune. With more innovation and increasing flexibility in implementation, technological advancements will remain in reach of businesses of all sizes.
As per an official survey, only 10% of organizations considered budget as the biggest obstacle in implementing digital transformation solutions.
2. Employees and Customers will Reject Transformation
Chatbots and RPA (Robotic Process Automation) are some of the disrupting technologies that have changed the business scenario and causing fear among employees. Some managers are also in the impression that digital transformation solutions will reduce the need for experienced workers. Some believe that their existing staff is not capable of adopting changes. However, this is not true.
In reality, digital transformation services are aimed at modifying business processes in favor of employees through simplifying complexities. Technology can automate certain repetitive processes to enhance the efficiency of employees. Employees can focus more on productive tasks and spend their time on strategic work. There is no reason to believe that employees will reject digital transformation.
Another myth is about losing customers because of sudden changes. However, in today’s technology-driven age, we can expect that customers are more tech-savvy than before, and they will welcome all the changes that occurred because of technological advancements.
3. Digital Transformation is a Short-term Process
Digital transformation is not a short-term process. In fact, it is an ongoing process. As your business grows in scale and size, you need to update the digital infrastructure. Though many entrepreneurs think that digital transformation is a quick and single project, the actual process is quite long and includes many aspects that enhance business procedures.
What’s more, you cannot expect overnight profit from the digital transformation. It will take some time, but you can reap the fruits of implementing digital transformation solutions in your business. It depends on your business model and size of the investment. However, it is fair to mention that during the course, you can feel the positive changes in customer services and other business processes.
‘Going digital’ is not about communicating with customers through a website or an app. Digital transformation services cover every aspect of your business ranging from HR to Sales and inventory to customer services. Digital transformation has many potential approaches. This myth is very common that once you upgrade your website and bring a new app for your company, the digital transformation is over. In reality, digital transformation brings external and internal changes in businesses.
It is necessary to understand that digital transformation is about to achieve business objectives by integrating advanced features. It certainly goes beyond website updates and mobile app development.
5. Digital Transformation Impacts Certain Markets Only
Though some industries are more susceptible to the impacts of digital transformation, it is incorrect to think that this transformative technology has no impact on particular industry sectors. Let’s take an example of the healthcare sector and chatbots. Unlike some sectors, chatbots have no or minimal role in the healthcare sector. It is primarily because patients rely more on use cases or reviews of doctors than asking basic information to the chatbot. But, doctors and nurses can utilize chatbots for getting information about patients or requesting a print out of test results.
Digital transformation solutions have many features based on various technologies. These solutions are highly customizable as per your business needs. You can easily modify or customize the solutions and make them most suitable for your business model.
Other common myths are digital transformation is only for large companies and digital transformation is necessary for IT companies only. Also, one should not consider digital transformation and digitization as the same thing. Hope this post will help you get rid of prevalent myths about digital transformation.
Digital transformation solutions have a positive impact on your business for sure. But, you need to stay informed and get ready to make changes as and when necessary. All told, we should neither overestimate nor underestimate the impact of digital transformation in modern industries. Let’s stay away from these myths about digital transformation and keep your business ready for the future through digital transformation.
If you want to make the most of digital transformation, the right time is now! Simply send us an email at email@example.com and our expert consultants will get back to you with a proposed digital transformation solution for your company.