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The Digital Transformation Journey
Lacklustre information management has severe consequences for your information security. It poses the risk of legal action, the imposition of large-scale fines and a negative reputational impact. However, technology can be the perfect path to efficient and correct information management.
The creation and popularisation of cloud computing has been one of the most important technology trends of the last decade, and its benefits are well-established. However, a successful digital transformation strategy should recognise that while cloud is an enabler, organisation’s technology infrastructures are often diverse in nature; alongside newer outsourced and digital elements are also old systems, such as on-premise and paper-based elements.
Integration is one of the major challenges for any hybrid business (physical and digital information assets), but also the key to a successful one. Cloud collaboration, a method of sharing and co-authoring files via the cloud, in which everything is uploaded to a central ‘cloud’, has proved invaluable with this process as it creates an environment in which physical and digital assets can be accessed in one place.
Automation is playing an increasingly important role within organisations today and can be viewed as the next stage of digital transformation following the digitisation of manual processes. The automation of tasks allows organisations to streamline processes, cut down human error and develop a cost-effective solution for employee productivity. This has the knock-on effect of boosting job satisfaction, as automation frees staff from the repetitive tasks and enables a focus on more rewarding work. Automation technology is also mostly neutral to both IT systems and processes, which enables businesses to develop on existing legacy systems.
The ability to free people from the office and enable them to work from anywhere has been huge for productivity. Moreover, it has helped to drive more flexible working practices, boosting job satisfaction. However, mobile working has forced companies to think closely about information management. Whilst workers are able to work outside of the office, it is increasingly important that they retain a stringent approach to information and data management to prevent creating vulnerability to breach or loss.
A truly global technological phenomenon, the Internet of Things (IoT) connects a staggering range of devices, including consumer electronics, payment terminals and cars. This network holds the potential to revolutionise the office. The detailed insight the Internet of Things (IoT) can offer into customer behaviour unlocks huge scope for opportunity to reduce costs, streamline processes and enhance service provision.
McKinsey estimates the Internet of Things (IoT)has the power to generate $1.1 trillion (€924.4 billion) in economic value by 2025. Today, businesses are now beginning to introduce the use of Artificial Intelligence (AI), machine learning, natural language and image processing to the data analysis process, allowing greater understanding of the data generated.
The opportunity for businesses to harness these technologies and transform information management is immense, and the journey for many is only beginning. Last year, 49 per cent of businesses did not have an enterprise-wide digital strategy (4,498 CIO survey across 86 countries) ** and of those that have one, 88 per cent felt their business had yet to fully benefit. In this time of change, it is prudent for businesses to stay agile; devising digital solutions for information management that integrate manual, digital and automated processes.
Digital transformation promises better gross margins and better net income. Productivity and efficiency both increase, and it can enhance, even create competitive advantage. But digital transformation is also about doing things differently – and doing different things as well. To find out how to succeed on this journey, please click here
To view a Blueprint for Digital Transformation, please view this video