Digital transformation refers to a fundamental evolution in how businesses operate and deliver value to customers.
Technology is critical to facilitate this evolution. But digital tools and networks enable change rather than achieve it. True digital transformation requires a mindset of adaptation and innovation—that happens to be fuelled by technology.
Continually assessing and adopting new approaches and technologies in a strategic way lets your business:
Develop more successful business models, products and services
Get better outcomes faster by improving or automating processes
Run a more efficient, agile, and cost-effective business
Every business in today’s global economy can benefit from digital transformation in some way.
Whether it’s improving your back-end systems, boosting employee productivity and engagement, introducing better production methods, or making it easier for people to buy—there are gains to be made when you rethink what’s possible and apply technology well.
If you resist change, your business is at greater risk from competitors and new entrants who are ready to disrupt the status quo.
Your customers expect you to innovate. If you don’t they may jump ship. This is true of employees as well. People want to work in modern, collaborative environments that empower them to apply their talent and use technology to get results.
Leading companies that leverage data and technology to increase their speed-to-market and give customers a better experience are reaping the rewards through decreased costs and increased revenue.
Digital transformation is a wise move if you answer yes to any of these questions:
Is your industry highly competitive or becoming consolidated?
Are you finding it harder to differentiate from competitors?
Are your customers’ preferences always changing?
Do you face strict and shifting industry or regulatory obligations?
Do you want to expand across multiple locations or operate globally?
Is the cost and availability of inputs, stock, and labour volatile?
Is skilled talent hard to find and retain in your industry?
The only constant is change. Your business will flourish if you embrace a process of ongoing renewal – always striving to understand what customers need, the direction your market is heading, and how technology can give you a competitive advantage.
Every business in every industry has room for improvement, which may be driven by a range of technologies including apps, websites, software, digital devices, connected networks, automation, AI, big data, and analytics.
How do you decide the best path forward and the best combination of technologies?
A framework for planning your digital transformation:
Not every technology will be relevant to every business, and new technologies and ways to apply technology are emerging rapidly.
Moving towards a more inter-connected business environment may be enhanced by:
Open source models
Networks, devices and software can unlock transformative capabilities by taking advantage of:
Data analytics and BI
AI and machine learning
Digital transformation efforts are more likely to be successful when you focus on getting the basics right. Start with the core systems that are needed to ensure your team can work together effectively and you can manage your supply chain, customers, finance and service functions.
An enterprise solution is an ideal way to centralise and streamline how your business manages inter-connected functions like sales, finance, distribution, production, and service, that are essential to keep your business running smoothly.
Integrated ERP solutions are configured to expedite the flow of information, approvals, processes and insights so that your employees can do their best work.
Modern Enterprise Resource Planning (ERP) software is robust and flexible—and capitalise on emerging technologies to support automation, predictive analytics and powerful business intelligence insights.
A modern ERP solution enables you to:
Run your business in the cloud securely and reduce your IT costs
Scale your systems/users as your needs change
Capture all important business data in one database
Link key processes and workflows across teams
Empower a mobile workforce and employee self-service
Consolidate data to analyse high-level performance
Make information and insights accessible in real-time
Reduce silos, delays, duplicated effort and errors
Making information more accessible across an organisation more than doubles the likelihood of a successful transformation.*
A world-class enterprise solution can give you the upper hand in a rapidly evolving global marketplace—you’ll have greater visibility and the capability to adapt accordingly.
Leverage Technologies has worked with hundreds of Australian small to medium businesses and non-profit organisations to help them select, implement and maintain the ideal ERP solution.
We specialise in helping businesses get the most from their digital transformation by embedding one of these powerful enterprise systems:
A cloud first solution for complex financial management and corporate accounting. Multi-entity, consolidations and more. Excellent ROI into vertical markets – non-profit, financial services, professional services and more.
Our experienced consulting team can help you clarify your business objectives and technology needs, before offering personalised recommendations about which solutions may be a good fit.
If your business is being stifled by an entry-level accounting solution or an out-of-date ERP solution, you might be weighing up whether to update what you’re using now or make the move to a new solution. Read our eBook “Small Business to Digital Business” to learn more about upgrading to a modern, cloud-based ERP solution to help your business grow.
Considering an ERP solution to kick-start your digital transformation? Put your business in a position to succeed by engaging in Leverage Technologies’ consultancy services.
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