Posts Tagged ‘Digital Transformation’

A facelift to the business world — Digital Transformation

Friday, January 24th, 2020

How is digital transformation reshaping businesses?

There is a fixed pattern or way in which businesses operate. When that changes its course from its traditional fons et origo due to modernization and technology, it is referred to as digital transformation.

“Change is inevitable. Change is constant.” — Benjamin Disraeli

Hence, digital transformation has made its mark in a wide range of arenas like hospitality, automation, information technology, finance, and even medicine. It has carved a niche for itself in all kinds of businesses — be it small, medium or large. However, it’s being ubiquitous comes at a price. It needs to prove itself worthy to the customers and the employees and this can be achieved only by employing voguish business applications. Organizations should be able to churn these out at lightning bolt speed because it is the only way they can survive in the extant cut-throat competition.

The essence

The pith of digital transformation is a reduction in operational costs and enhanced customer experience. It does not just circumscribe around new innovative technologies but also revolves around a change in mindset and work culture. Thus, enterprises ought to cater to fluctuations in the business environment and business demands by inventing appropriate strategies.

“…the key to digital transformation in re-envisioning and driving change in how the company operates. That’s a management and people challenge, not just a technology one.” — Capgemini Consulting

The factors

It is hence, pivotal for the management to join hands with IT teams and cater to business needs, motor innovation and head towards continuous development. These form the core of digital transformation — progress in business activities, reduction in costs, improvement in marketing time and so on. Influenced by major factors like technological innovations, customer expectations and demands, market scenario and environmental changes, digital transformation is a force to be reckoned with.

Advancements in technology lead to disruptions. Those operating on obsolete and outdated computer systems are shunned for latest and more modern versions of the same technology. Cloud computing, big data, internet of things, machine learning and others have taken the limelight and if harnessed, are done throughout the organization for better results, higher efficiency, and lower costs.

In the case of customer behavior, it refers to the desires and expectations that they have from the business and from the technology being employed. Consumers want sophisticated and latest technologies but also want them to be handy and easy-to-use. They must be satisfied with the service and should be willing to speak highly of your organization to others. Hence, it is extremely important that these expectations of the customer and technology changes catering to business demand must be in sync with one another. Digital transformation, therefore, helps in the evolution of organizations towards being more customer-centric.

The aftermath

Now, let’s move to different aspects of a business model that digital transformation influences or is capable of influencing. It can affect the normal functioning of the business across different departments ranging from human resources to administration. It can also streamline business models, increase the efficiency of underlying processes and balance business ecosystems. Dealing with customers and information, the two main intangible assets of any business, also become much easier.

Back to the essence

Profitability, customer care and faster market time are key components of digital transformation. Large amounts of data can also be analyzed easily using the latest tech to make decision-making more efficient and improve overall performance. Due to its camaraderie with the business world, digital transformation is often also referred to as business transformation.

“Digital transformation is a journey for the entire company. It’s no longer just about marketing transformation. We’re entering a new phase where all internal stakeholders are involved.” — digitaltransformationbook.com

It is indeed reshaping the business world to transform not just operations management but also organization at all hierarchies. Taking the world by the storm, it is no surprise that a significant number of Global 2000 companies deem it a priority in their corporate strategy. So, watch out for this one!

Also, feel free to reach out to us in case of any query regarding the digital transformation of if you just feel like having a construction discussion regarding the same. We will be more than happy to help out. Thanks for reading!

How To Choose The Right Outsourcing Partner

Thursday, January 23rd, 2020

Tech firms are increasingly relying on outsourcing, especially for software development to increase their productivity, reduce development time and tackle overall competition. And if all this can be achieved within the budget, it is the icing on the cake!

However, it is not as simple as it looks. There are a million other things that influence this outsourcing agreement, much like any other business strategy that is framed after due deliberation. For starters, what things should you keep in mind while choosing your outsourcing partner? This is not a frivolous decision but one that can greatly influence the firm’s future. So, sufficient time, energy and effort must be invested in the same to develop a fruitful association.

Why are you outsourcing in the first place?

This is the most important question to ponder upon since outsourcing is not a cure-all; it is only as efficient as the standard one sets. This is extremely crucial so as to set concrete goals. Something like ‘what is the current level of output or performance and what is desired?’ is a great thought to begin with. Hence, eliminate any vagueness or uncertainty in your overall expectations.

Evaluate your partner carefully

Joining hands with an outsourcing partner involves investment in both time and resources. You’ll spend energy to fill a team in on the working of your organization. But all this will go in vain if you end up concluding that they are lacking in skills and technical prowess. Similarly, you can find your ideal outsourced team but it won’t mean much unless it is able to stick around for a good number of months or years. Hence, don’t be reluctant and do ask the hard questions to be able to choose an established outsourcing partner.

Choose the right size team

This might seem trivial but it plays a pivotal role in determining the strength of your association with the outsourced team. There is often a misconception that it is best to partner with the largest vendor but sometimes, this can have the opposite effect as well. For example — a large outsourcing provider might not be able to attend to each client with enough care; smaller clients might be neglected and made to associate with developers who are not as proficient. It is also likely to charge much more for its services on account of its brand name and good track record. Hence, a large vendor is apt only when it has to be assigned to a client that is large enough to command its attention.

Smaller partners are usually more flexible, have lower rates and attend to all clients with sufficient attention and effort. Their senior management is more involved in all the projects and this is a big boon. It is also an advantage that cannot be conferred in the case of large vendors.

Investigate

Bring out the Sherlock Holmes in you and carry out a background check. What projects has the outsourcing partner already worked on? What customers did it deal with? Ask for references to get firsthand information on what it’s like to work with that team. Is the outsourcing provider financially secure? Does it have sufficient infrastructure and technology to carry out the designated tasks? Know all this before bringing them on board.

Know the contract like the back of your hand

When partnering with an outsourcing provider, it is always a good idea to obtain legal consultation. In case of software development, it is all the more crucial due to shared intellectual property that needs to be defined clearly. A non-disclosure agreement is also signed to prevent the outsourced team from leaking any sensitive or private information.

Communicate well

The entire work mechanism is based on a meshwork of efficient communication and collaboration. Hence, it is important to ask a few important questions that influence this. Where should the outsourced team be placed? Will communication be possible if it is an offshore arrangement? Do the qualities of a team in another continent outweigh the problems it poses due to being in a different time zone? Would it be easier to work with a nearshore team? All these points need to be taken into account for a successful partnership

A simple six-fold strategy, it is a must to consider the aforesaid checkpoints so as to find your ideal outsourcing partner. As for a discussion about such trends in the business and technological world, you needn’t look for ideal partners. We are right here. Feel free to reach out

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