The Skinny on Digital Transformation: How to Keep Your Organization Fit

By Marc Fuentes | December 15, 2020

Every day, I wake up early to exercise. Most days, leaving my warm bed feels like the last thing I want to do, but I know that paying attention to my physical fitness will pay off. The same is true with your business. 

Digital transformation gets your business in shape to become agile, resilient, and competitive in the same way that lifting weights or running can help you become physically fit.

Connected exercise equipment and sensitive, wearable tracking monitors feed you more relevant data. So too does automation and AI technology for your business, making processes easy, transparent, and fast.

With so many companies pivoting to digital-first due to COVID-19, this pace of change has only accelerated. Are you digitally fit enough to compete?

Digital Transformation 101

Making your business digitally fit starts with evaluating your business: people, process, and technology. Each area requires different needs as your business grows, but all can benefit from digital transformation.

Digital transformation refers to a fundamental reimagining of how you conduct business, delivering products and services to customers using modern, digital channels in a fast, personalized, and secure environment.

In today’s fast-paced world, digital transformation isn’t a nice-to-have—it’s essential to the success of your business. Investing in digital transformation technology can make your business more:

  • Agile: Adjust to market fluctuations more quickly, with less overhead.
  • Resilient: Be prepared to respond to external pressures, from geopolitical events to regulatory changes.
  • Competitive: Deliver a better customer experience.
  • Efficient: Make it easier to operate and focus on the customer.

How to Create a Winning Digital Transformation Strategy 

So, what does this mean for your organization? As businesses embrace this new normal, it’s more important than ever to streamline your operations.

Now is the time to be bold, or else you’ll be left behind.

the skinny on digital transformation (chart graphic, enlarged)

Bold, tightly integrated digital strategies reign supreme. Yet, up to 84% of digital transformation projects fail to achieve their desired results.

To succeed, you’ll need:

  • Cross-functional stakeholder support, including top-down leadership
  • Clear business outcomes, which define your approach
  • Commitment to push through perceived “stalls” and problem-solve
  • Cultural understanding of the power of technology and data literacy
  • Partnerships with trusted, innovative companies

Start Small to Achieve Big Business Outcomes

Digital transformation requires commitment. Like embarking on a personal fitness program, you need to set goals and change the way you’ve always done things in order to succeed.

Do you want to simplify compliance, accelerate the customer experience, increase operational efficiency, or all three? Running a marathon starts with the first mile. Start your digital transformation journey by first evaluating your data.

Often, the biggest barrier I see with our clients is a tangled web of documents that make up unruly, unstructured data. This “dark” content makes it difficult to know what information exists and how it’s organized—especially if so much of managing that documentation is manual.

Content Intelligence solutions like Adlib use a combination of best practices and technology to automate rote processes associated with your data, especially when it comes to your operations.

Take processing claims or opening accounts, for example. How much faster could you operate—and what kind of experience could you deliver for the customer—if you no longer had to open the file, extract the right information, and plug it into the system in two different places every time you processed a new claim?

Now's the Time to Prioritize Digital Transformation

With every element of our lives pivoting to online due to COVID-19, you’ve likely found that the processes that used to work no longer do, or that some of your business processes are held together with duct tape and string.

You can’t just snap your fingers and implement a completely new business process overnight. Like our own personal fitness programs, digital transformation is an ongoing journey, not a destination. 

To keep fit we need to maintain our efforts, adjust as our needs change, and adapt to new, improved methods and tools as they become available. The time is now to invest in your digital transformation efforts, and Adlib can help.

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