Digital transformation involves more than just updating technology and processes; it also involves revenue and shareholders. Applications for this include "connected breweries", where the quantity, quality, temperature, and a range of other relevant factors can be monitored across batches. Through the clever use of Big Data, Our IT Department helped an established insurance broker to convert vast amounts of current and historical business data into an essential tool that allows them to provide a better customer service experience. So, when you undertake digital transformation, make sure to: According to analyst house IDC, digital transformation is worth almost $19 trillion – that’s 20 percent of global GDP. Digital transformation has changed the business landscape and there’s no getting away from it. Nike Just Did It. That's why messaging has the highest customer satisfaction score of any channel, with a CSAT of 98 percent, according to our State of Messaging Report. It isn’t just businesses that stand to benefit from digital transformation. https://acquire.io/wp-content/uploads/2020/10/acquire-factsheet.pdf, employees with digital and analytical skills. “I can spend less money, leverage value right away, and then invest in my infrastructure incrementally to continually drive that value.”, "The age-old idea of building a large, expensive, complex system doesn’t work in this pivot-quickly world. On the back of this, a number of new digital services have become available to residents which otherwise would not have been developed due to lack of resources – for example, the Leeds Bins app for iOS and Android allowing residents easy access to waste management information. Companies often undergo digital transformation to help them do more with data—building processes that enable them to translate analytics into outcomes. “Now, customer experience encompasses dispersed knowledge workers, especially in our highly remote world,” said Hartwell. A definition Digital transformation goes beyond a new app or simple transfer of paperwork from overstuffed filing cabinets to the cloud. Digital transformation isn’t just about “bringing efficiency to outdated business operations” or “reducing operational costs.” That’s table stakes. Adapting based on changing customer needs was already built into their culture because forward-thinking leaders armed their companies with technologies to be agile and embrace transformation. “Most people think of agility as being quick to do something, which is true, but agility also means being quick to react to get incremental value,” said Hartwell. We use cookies on this website to ensure you get the best experience. “It’s literally pop out the Lego brick and pop in a new Lego brick,” said Hartwell. This meant it could launch the world’s largest banking API platform. DBS also launched a mobile-only bank, DigiBank, in India. "Bruce Hartwell, VP, Customer Experience Systems, Zendesk. "If you want to drive big, impactful outcomes, you need to look at data from a 360 view. This is a preliminary list of cases that will be updated on a regular basis. Quarries, mines and railroads might not seem like a natural habitat for digital … ), Digital transformation and customer experience, 5 types of web self service (and how to set them up), Delivering personalized customer experiences with Zendesk and Amazon Connect, How companies thrive after switching from Salesforce to Zendesk, Building stronger customer relationships with messaging, Implementing digital tools like artificial intelligence (AI) to free employees to focus on tasks requiring creativity, problem-solving, and more human skills, Using design thinking to discover and resolve pain points in the customer journey, Revamping processes to adapt to customers’ needs, Evaluate how people feel about the transformation, Build a transformation roadmap around awareness and preparedness, Invest in tools for a distributed workforce. Although that may sound dramatic, the reality is that 27 percent of companies identify digital transformation as a matter of survival. When they don’t, the technology sticks out like a sore thumb. Having previously been hamstrung by siloed IT, and its structure as a loose collection of regional business centers, in 2006, Ford was determined to unify. 1. Similarly, sitting in your home office and talking to coworkers via a virtual setting will be normal.”. Many companies are hesitant to invest in digital transformation … Or, it could be innovating by building new processes around cutting-edge tech. One of the ways it has done this is by changing how stores are able to replenish their orders, developing a mobile application called B2B. (You can unsubscribe at any time. The root cause is a failure to recognize, or at least effectively respond to, changes in the market. It’s about reaping benefits that will help your business thrive into the future – for example, by being able to: How valuable is digital transformation? A business should ask itself: ‘are we making things as simple as possible for customers?’”Nishanth Babu, VP of Product Growth and Monetization, Zendesk. “If you’re an early-stage startup, you can get it right from the beginning. This created a vast pool of machine-readable data allowing third-party innovations via useful applications. Organizations that master customer-focused change prioritize the quality of their customer experience tech stack, meaning it’s an enterprise-wide investment decision, according to Zendesk and ESG’s research. But if you keep your focus on your customer as you reimagine how people work, processes that support them, and technologies they use, generating breakthrough value becomes easier. Those who the transformation will impact are stakeholders, according to Dana Otto, Senior Manager, Change Management, Zendesk. Get the answers and 16 important statistics to help you benchmark your own strategy. “Data is more impactful when a business looks at the entire customer journey, focuses on the big picture, the story data is telling, and how it affects the overall business,” said Babu. Through this approach, AB InBev will be able to create evermore relevant and meaningful content for their consumers. There is no company that is too small or large to be unaffected by the forces of digital … Oops! AB InBev has even created a tech innovation lab, Beer Garage, to explore ways that artificial intelligence (AI), machine learning (ML) and the internet of things (IoT), among other technologies can be used to improve experiences for consumers and retailers alike. Digital transformation in this area looks at ways to help the organization improve its functions. Now that you know what a solid digital transformation strategy entails, here are a few examples or organizations that have executed successfully. In this context, digital transformation (DT) means multiple changes in the banking industry performed to integrate various fintech solutions in order to automate, … DigiBank uses cloud software, making use of Amazon Web Services (AWS), among others. Businesses should think of their tech stack as an ecosystem of tools or an architecture of systems that fit together, according to Hartwell. That means it can’t just be support that’s thinking about customers. Wikipedia defines digital transformation as “the change associated with the application of digital technology in all aspects of human society.” In the business world, this shift is often referred to as a digital transformation … Awareness focuses on communications, and preparedness on training enablement. But if you’re changing a product or business model that’s been around, it’s more of a change to the culture. Stakeholders often include employees, their managers, training teams, HR business partners, or vendors. “If you can make people feel like their voices are heard by addressing their concerns, it helps them move along with transformation.”Dana Otto, Senior Manager, Change Management, Zendesk. Social media wasn’t invented to take the place of call centers, but it’s become an additional channel (and opportunity) to offer better customer service. Undoing new ways of doing work is harder than proactively making adjustments. “Most people think of agility as being quick to do something, which is true, but agility also means being quick to react to get incremental value.”Bruce Hartwell, VP, Customer Experience Systems, Zendesk. Some of the best-known brands are no longer anywhere to be seen on our trip down the highstreet (Blockbuster anyone?). Best-in … “A lot is going on in customers’ personal lives and the world,” said Babu. But how to do it well often is—especially transformation supporting greater customer-centricity. Thus, the shift to remote work resulting from COVID-19 is a driver in the direction business was already headed. Interested in becoming an Acquire Partner. Common digital services range from filling tax returns to renewing a driver’s license to applying for a pet license. Services must be fast, responsive, and personalized. More than 50 percent of digital transformation efforts came to nothing in 2018. This wasn’t an exercise in expense reduction though. This could involve digitizing previously manual processes. Source. “This involves continuously looking for customer feedback.”, “Businesses need to be clear on who buys their products and what their customers need.”Nishanth Babu, VP of Product Growth and Monetization, Zendesk. Here are five good examples of digital transformation across a number of industries. “We were already in an environment where a business needs to interact with customers on a personal level, on their preferred channels, in what language they speak, and from any geographic location—without monolithic systems,” Hartwell said. Now, … GE is already using the latest 3D printing technologies to … When it comes to digital transformation, companies often throw around buzzwords like “personalization” and “customization.”. Caterpillar: Real-time defect prediction. Think about customer service software. The importance of digital transformation isn’t under question. Take Vimeo. But processes that foster better-personalized experiences aren’t built overnight. Digital Transformation Examples One of the truths of digital transformation is that it is happening to every industry. Our Shopify integration is available now! “The age-old idea of building a large, expensive, complex system doesn’t work in this pivot-quickly world,” said Hartwell. Last updated December 11, 2020. Fundamental change has to be made, and foundations built,” explained Babu. What is digital transformation in banking. “Businesses need tools to pull a dispersed workforce together, so the fact they’re dispersed is invisible to customers.”, High performing CX teams didn’t all of a sudden decide quality systems and tools were necessary because of COVID-19. “Customers need the ability to reach out on the most convenient channel and get a fast answer, interactively.”. AI and machine learning enable businesses to scale with less, understand big data, and build better customer experiences—but only when they use it to augment their people. Plenty of companies today boast about undergoing digital transformation, but what they usually mean is digitization. When businesses thought of digital transformation previously, systems that cost millions of dollars and take years to implement typically came to mind. But the environment of constant change driven by COVID-19 made business transformation more relevant than ever, shrinking the transformation timeline from years to weeks, according to Gartner. With such stiff competition around, any kind of delay can potentially spell disaster. It was thanks to this that Ford were able to invest in novel projects such as Ford SYNC and MyFord Touch. True digital transformation takes place across two distinct dimensions: In a constantly evolving world, the equation is simple: adapt or die. In the end, the competition to do things better and adjust to an increasingly digital world has one real winner – your customers. Take chatbots. Digital transformation (DX) is an ongoing journey of using digital technology and digital strategy to fundamentally change an organization’s customer experience, business and operating processes, or culture. So, it’s clear a lot is at stake. Digital transformation is the profound change that affects business processes, ecosystems, and models as they integrate digital technologies at all levels. Digital transformation does not have … “In the future, each of these solutions will be SaaS and cloud-based, specialize in a particular area that it does very well, and all talk to each other.”, “Businesses need to be in a position where they aren’t building a system, but an ecosystem of systems plugged together like so many Lego bricks.”Bruce Hartwell, VP, Customer Experience Systems, Zendesk. Why digital transformation is so important, More tips for preparing employees for digital transformation, Please also send me occasional emails about Zendesk products and services. Announcing: Our Shopify integration is available now! 1. Companies should look for systems supporting: Teams need always-on, highly interactive tools to engage with colleagues and customers digitally as if they were sitting next to each other. Rather, it helped free-up resources previously locked into propping up an outdated and fragmented system. 76 percent of customers expect personalization. Flexible systems enable employees to work anywhere without the business having to build and maintain its own data center. Digital transformations require time, resources and funding. Read on to learn what digital transformation is—and more importantly, how to keep your customer at the center of it. The outcome of any process should be a simple one for customers—whether that means designing for a pain point or streamlining the supply chain. In other words, having an agile mindset helps drive quick wins and incremental value supporting the more extensive transformation goal. 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