With an increasingly digitalised world, it is imperative that businesses adapt to changes in order to remain competitive. Transforming business processes and making them digital results in changes to how the business operates and delivers value to customers. It is important to remember that complete digital transformation also involves a cultural change within the organisation. Furthermore, the organisation should be comfortable with experimenting, and possible failure.
Small businesses are at an advantage when it comes to digital transformation. With fewer processes and employees, gradual technological advancements within the organisation will not be as costly or as difficult to implement. Here are some ways a small business can use technology to their advantage.
- Have a Comprehensive Digital Strategy. Research has found that digital leadership and management should start from the top. This means that the implementation of digital processes should be strongly reinforced by management and should trickle down to the employees. With this in mind, small businesses can also greatly benefit from employing digital transformation tools. The UK’s DL100 nominated companies offer digital innovation tools for SMEs. One nominated organisation in this category weareleanandagile.com provides small businesses with software for business process mapping.
- Make Decisions Quickly. Many large companies suffer by over analysing and debating over decisions rather than intuitively acting upon these decisions. There is always a danger in looking for better information and better solutions which restricts their ability to move quickly. Small businesses should not suffer from this same limitation. Making decisions quickly should also apply to digital innovation within the organisation. Small businesses can afford to take risks by trial and error. Don’t think about it too much, rather be decisive and act quickly.
- Start with the Customer in Mind. When it comes to digital innovation, it is important to consider the customer first. How will technology add value to the customer’s experience? Will it make things easier for them? Will it improve the delivery of services? For small businesses, customers come first.
Start-up companies need to evolve in order to remain above the competition. It’s a fact that the high turnover of small businesses in this highly competitive market fuels the need for digital transformation. How does a small business benefit from digital innovation?
- If competitors are doing it, then you should too. Most businesses rely on technology to drive business and improve their processes. Start-up companies should keep up with this trend and not get left out.
- Digitalisation will drive more profits and increase efficiency. Outdated systems and processes tend to slow down processes within an organisation.
- Lastly, customers will thank you for it. Most people have already adopted digital practices in their day-to-day living. Businesses should be able to keep-up with this too.
The success of any business relies on its ability to adapt to change. Technology and digital innovation will continue to move forward and evolve. Businesses should be able to harness the potential of technology to their advantage even in small, simple ways.