The goal of any digital transformation initiative must go beyond simply adding more technology to the company’s digital toolbelt. Instead, digital transformation should serve as a means to achieve specific business goals. And with the right strategy, businesses can aim higher than ever before.
For example, one report shows that 40% of digitally mature companies grew their revenue by more than 10% between 2017 and 2020, compared to 19% of digitally immature companies. The business benefits of digital transformation are many, and realizing them starts with finding the biggest opportunities to impact your bottom line. Let’s explore a few ways organizations have reached new heights through transformation initiatives:
1. Gaining New Competitive Advantages
In a McKinsey survey about the strategic importance of technology adoption, the top-ranking reason for investing in more technology was to gain a competitive advantage. Digital transformation initiatives can help businesses stay ahead of the competition by breaking down traditional barriers to growth.
CTG helps organizations move into the future by migrating applications, systems, and infrastructure to the cloud without disrupting current business processes. For example, a financial services company turned to CTG for help moving on-premise email solutions to the cloud. After working with stakeholders to understand compliance and business requirements, CTG developed a tailor-made cloud email solution using Microsoft 365. The solution saved the client 25% compared to other options and allowed employees to communicate in a flexible, efficient, and compliant way—a move that will help the company stay a step ahead of competitors well into the future.
2. Improving Operational Efficiency
Research shows that nearly 60% of companies have yet to digitize manual internal processes. These organizations are missing opportunities to improve operational efficiency broadly and deeply. Advanced technologies, such as artificial intelligence and machine learning, can digitize workflows and burdensome tasks to free up more time for higher-value work.
CTG helps organizations across various industries streamline manual processes into digital workflows to enhance business performance. For example, one oil and gas company called CTG for help using technology to meet evolving environmental goals. CTG digitized workflows across its leak-tracking life cycle—from initial incidents to clean-up responses—to enable more efficient capturing, storage, and usage of leak data. With a streamlined tracking workflow, the company is now better equipped to make data-informed decisions about future responses and meet challenging compliance obligations along the way.
3. Upgrading the Customer Experience
Creating more satisfied customers is another clear and compelling business case for transformation initiatives. Digital transformation with a focus on improving customer experiences can result in a 20% to 30% increase in customer satisfaction, which can lead to economic gains of 20% to 50%.
CTG can help businesses scale and optimize technology to support customers. During the initial rollout of COVID-19 vaccinations in California, some health systems saw call volume increase by 2,500%. They turned to CTG for help creating scalable and efficient call centers to support more efficient communication with consumers. CTG delivered a call center automation solution in 10 days, allowing call centers to increase their daily capacity from 900 to more than 2,500 calls.
When CTG helps companies accelerate digital transformation, we serve as much more than a technology advisor alone. Our solution architects hold interviews and workshops with various stakeholders at a company to understand where technology can have the most significant impact on business. Then, the team creates a digital transformation strategy explicitly designed with business goals in mind.
Contact us today to start your organization’s transformation journey.