Whether to join the fray of digital transformation is already out of the question. A recent industry report forecasts that 25 per cent of the world's economy will be digital by 2020.
In 2014 in the UK, the GVA of the nation’s Digital Tech Industries was estimated at £87 billion. While turnover of Digital Tech Industries was estimated at £161 billion. It grew 32 per cent faster than the national average between 2010 and 2014.
Upon closer inspection of this phenomenon we have identified the key drivers of digital transformation (and their associated benefits) which include; the rise of tech-savvy customers, more informed decision making, better big data capture, and the emergence of an upskilled workforce. Let’s look at these in more detail:
Many governments and private businesses now prioritise customer-focused services to deliver customised, meaningful and enhanced experiences. Digital platforms are effective tools to connect with customers as they allow insight into customer requirements to anticipate and efficiently address their needs.
More informed decision-making
The availability of optimised, end-to-end, and highly secure tools have led to more intelligent software solutions are being integrated into work systems. These aid employees and management in their decision-making processes, saving time and resources as well as reducing costs.
Big data capture
The voluminous data being generated every day is effectively streamlined and managed through the deployment of available modern document management solutions. The resulting operational efficiency can lead to faster business operations, enhanced productivity, and improved profitability.
Digitisation also calls for qualified manpower proficient in handling such ‘smart’ equipment. Organisations are now implementing training programs and conducting skills development sessions to upgrade the competencies of their human resources and make them globally competitive.
With all these benefits in mind, investing in information and communications technology is the only natural course for businesses to digitise and automate their processes. Therefore, it is of key importance to digitise the paper-based information and integrate it into the electronic process chains. 'Scan-to-Process' is the catchphrase here. This concept is a logical step for any business or government authority that is en-route to better quality, greater efficiency and improved, faster, business processes. Some document scanners even support a 'Scan-to-Cloud' concept, allowing the transfer of paper documents into cloud services.
The challenge is to achieve a true digital transformation through improved customer experiences and digitally-enabled offerings. Digitisation is already redefining today’s reality and both the government and private sectors must invest in modernising their systems or risk becoming irrelevant.
Mike Nelson, Vice President PFU (EMEA) Ltd.