New technologies are changing the world and businesses around at full tilt and the possibilities are now beyond imagination. Since ages, the business has been aided by technologies that allow delivering faster, quicker, better and cheaper products and services in the name of IT projects. Today, this role is played by digital transformation technologies. 

Digitalization is on it’s all-time high these days and transforming according to the industry’s requirements is the need of the hour for all enterprises. It has been a driving force in both, our personal as well as professional lives and we just can’t get enough of it. Digital technologies are no longer a luxury, they have become the benchmark of progress for any business be it large or small-scale. According to Digital Business Research, 89% of the businesses have already integrated or are planning to have a first-digital strategy.

What Does Digital Transformation do for SMEs?

“The revenues of the digitally transformed business have flown by 14% between the years 2015 and 2017, while the profit margins have hiked by over 87%.”

If we take up statistics of the world’s topmost companies in the last 50 years, we can easily discern how digitalization has taken brands from zero to zenith. On the other hand, the ones that kept away from digital transformation have been brought down, despite their excellent brand reputation. Multiple companies that had started off as low-lying SMEs have sky-rocketed their balance sheets lately just because they welcomed digital transformation at the right time. 

Here are some pointers that depict how digital transformation has worked for SMEs:

  • According to a recent study, 49.3% of the decision-makers believe that technology levels the playing field for small businesses versus larger corporations while 40.8% cite their size as an advantage over larger companies that are less able to capitalize on digital innovation in a timely way.
  • Data Insights and Analytics Tools allow the business to track and analyze their website, product or services content and marketing campaigns in real-life. This provides the small and medium enterprises a decision-making process so that they can work accordingly for their benefits.
  • Various tedious tasks like data collection, analysis, and simulation can cause human errors if not operated automatically. Thus, digitalization helps to prevent errors and provide maximum accuracy and completes the given tasks in the least possible time.
  • Many small-scale businesses after digitalization, are no longer opting for the pen-and-paper mechanism while carrying out the regular operations, thereby reducing the wastage caused by paper. Also, it doesn’t let them lose track of the existing tasks and keep all the work in one place!
  • Digital technologies, tools and strategies provide small-scale enterprises with a plethora of opportunities to flourish their progress and accelerate their growth.

Mistaking Digital Transformation For a Regular IT Project, Are You?

“From project-level to organization-level — digital transformation raises the bars for your business!”

If you are considering the comprehensive process of digital transformation to be a simple SDLC of yet another IT project, then you may be wrong! Digital transformation has a lot more in store for your company. The perks offered by various digital transformation solutions include:

Digital Strategy and Planning

The application of emerging technologies to all aspects of a firm’s operations and society requires ample planning and strategic deliberation. Planning an IT project just concerns with the immediate product-level response. Whereas, strategizing an entire digital transformation model employs a higher degree of vision and brainstorming. Aiming at the enhancement of the organizational performance, the mind-map of digital transformation seeks to improve the overall concrete base of the company which is much different than just delivering the expected solutions to a client for a project.

Digital Business Management Tools

Today, we have exceptionally efficient business management tools being offered by trusted names like Microsoft. These tools deliver speed and innovation as a single-handed addition to existing processes and infrastructure. Managing numerous business parameters, linking on-site and offshore operations, integrating processes across all verticals – all of this happens here at a much larger scale than any IT project would ever have. 

Industry 4.0 Solutions 

Time demands the latest technologies that rule the world. The Internet of Things along with Industry 4.0 solutions have created a buzz in the manufacturing business worldwide. These are certain things that simply fall outside the domain of a typical IT project. Thus, digital transformation is not just about software companies and organizations. It covers a broader perspective on business.

Data Analytics

An organization’s maximum potential lies in its workforce. Why waste your human resources over unnecessary tasks that can be automated? Managing the entire company data and handling loads of information might sound like a generic IT work. But when it comes to depicting trends and analyzing the data to detect anomalies and obtaining predictive results, a simple database might not be able to solve the issue. That’s when you need the power of data analytics.

UI/UX Design Solutions And Cyber-security

There exist digital solutions that ease the process of designing human-centric interfaces and customer experiences for prototypes, products, and software. Apart from design solutions, there are issues with regard to the breach of privacy of data and information of any organization. Intelligent cyber-security solutions cater to those demands of firms.

What CodeXperts Can Do For Your Business?

The integration of our lives with digital technologies is so strong already and is increasing at such a great rate that it’s implicit to set foot into the digital era as soon as possible. A recent study shows that around 82% of the SMEs are already on their digital transformation journey, so why are you left behind in those few when you can choose better!

It’s high time SMEs start renovating their business models to improve their ROIs. It’s time to go digital and create wonders in the manufacturing field!

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