The pace of change in business today is staggering. As expectations for quality user experiences rise ever higher, this need for speed is driving enterprises to embark on digital transformation.
You could call it life imitating art, but customers’ online behavior is now setting sky-high expectations for real-world encounters. Customers demand a single, consistent experience across every touch point.
Everyone has access to multiple channels, which puts pressure on companies to provide an integrated experience. You just can’t deliver a slick experience on a mobile device in isolation. You can’t expect your customers to be happy with one great experience that doesn’t extend beyond the confines of their mobile screens.
But it’s not just about meeting customer expectations. Inside the enterprise, employees are leading the charge. They want to collaborate with their coworkers in the same way as they can with friends. At work, you expect the same powerful technology that you use at home.
Yet on the customer experience side, many of the executives I speak with in manufacturing, retail, services, life sciences, and other sectors are still struggling to create the perfect cross-channel experiences for their customers. Many organizations persist with clunky apps even though they’re a serious drag on productivity.
We are all technology companies
These days, all successful companies are technology companies that just happen to produce other things as well. So it doesn’t matter whether you’re selling beauty products, manufacturing industrial cement, or educating young minds, the market and people have changed.
Adopting digital technologies is crucial if you want to meet modern expectations. You need to take advantage of digital tools and technology to provide customers with what they want in a targeted, effective, and seamless way.
Getting ahead in the digital journey
While large traditional companies—with decades of history and legacy—are very different from nimble digital entrants, clearly only those organizations that take advantage of an always-on, digitally connected and Big Data-driven world can hope to succeed.
Cloud and mobile computing combined with endless streams of data have created the potential to transform nearly everything.
For established organizations there’s an urgent need to rewire your end-to-end business processes for the digital world. You need to modernize core systems to support new kinds of digital interactions.
Accumulating and analyzing more valid data
Take the case of a long-established cement producer based in Thailand. While Siam City Cement is not an obvious early candidate for digital transformation, its needs were compelling. Digital transformation is now well underway in its business as the company strives to respond to changing consumer behavior.
For Siam City, the only way to keep up with customer demand was to understand customer data better. Using a next-generation ERP business suite as its digital core, it now has critical information available in real time, helping the company make decisions quickly and ensure it is offering customers the best products and services possible. The organization has also cut month-end closing in half.
In pursuit of excellence
By simplifying its entire IT landscape and architecture, the university’s financial process is now much faster. Access to real-time data is leading to swifter decision making. By comparison, under the old finance system, 72 customized reports were produced each month. Now, there are just five. This has eliminated an entire day of work from the university’s finance administration team, freeing them up to focus on more useful projects.
But more than this, with reliable financial data, the university can now make informed decisions on which programs to increase or which facilities to enhance.
Pioneering a new beauty category
These efficiencies stem from improved inventory accuracy. With real-time tracking, Memebox has reduced product delivery lead times, so customers are receiving the right products more quickly while revenue for Memebox continues to grow.
Customer experience is the heart of digital transformation
These days, attracting, winning, and retaining customers requires personalized cross-channel interactions and individualization of products and services. Organizations that embrace digital technologies and modernize their end-to-end processes will place themselves in the strongest position to succeed.