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Digital Transformation
Digital Transformation: 3 Secrets Your Consultant Won’t Tell You
The story of Digital Transformation is not without its pitfalls. There are roadblocks that need to be recognized, understood, analyzed and addressed before the changes kick in. More often than not, it is not an external consultant who will highlight these challenges to you, but it is you who will have to call out the elephant in the room. Here’s an interesting story that would help you understand why the entire company has to align with Digital Transformation goals to make it working. Let’s assume a mid-sized enterprise planning to transform their business with digital solutions. The enterprise has been seeing its profits dwindling and they undertakes an organizational restructuring to reoriented their go to market strategy; approaching the market with industry-focused solutions rather than an inward-looking services approach. However, there is a lurking fear that they will lose their edge to the competition. In a brainstorming session, the company decides that it was not fully geared up to compete in the digital world and was not aligning with the volatile business landscape. The IT head was tasked with the responsibility to come up with the ‘Digital Transformation’ plan for the organization. They hire a consultant for recommendations, who presents a blueprint on how the organization has to adopt new technologies in becoming agile and serve customers better. The organization is all set to begin the journey. As you would have guessed by now, something was messed up. More than hope, it is doom that seems to be lurking in the shadows. Any transformation of the business is a high-stakes game with inherent risks. Success depends on identifying the risks and avoiding them. And, these challenges are not limited only to external consultants. To transform a business completely, it is the C-level executives, employees, partners, vendors who have to resonate with the transformation agenda. Let us take a look at the major roadblocks to Digital Transformation.
Anand Ethiraj
February 27, 2018
5
min read
Digital Transformation
Field Sales Automation – 5 Reasons Why It Is Critical for Your Sales Success
Sales is one of the most critical fields of any enterprise and there are countless challenges faced by the sales team. The most common of all are access to real-time sales data and getting field sales executives involved or keeping motivated. Here are some of the other challenges field sales executives and enterprises face every day. Managing dispersed workforce scheduling and managing tasks for sales executives Capturing and submitting sales data on a daily basis in CRM Monitoring field sales data accurate through a single window Managing overall sales operations Efficient workforce performance tracking Enabling faster decision making Executives out for day-to-day field sales activities face the mammoth task of meeting customers, selling products/service, collecting feedback/insights and updating the respective sales data in CRM at the end of day. On the other hand, the sales managers have to track the data updated by reps to evaluate their performances. The entire process is time-consuming and impacts the overall sales cycle’s efficiency. To achieve maximum ROI and accelerate productivity, automating the entire process is the best way as this simplifies the jobs of both the sales force and managers. Automation not only helps the entire sales team acquire real-time data throughout the process but also keeps the workforce motivated. Motivate workforce, really? You would wonder how this automation will help. Here’s the answer. Sales force can use the complete list of customers from the mobile app, can plan the customer meetups without any discomfort, can send expense reports instantly, can submit end of the day reports on the go. This simplifies their day-to-day chores and keeps them motivated. And, this is the reason why smart enterprises are investing in field sales automation solution.
SHIVA SANKAR
October 21, 2019
5
min read
Digital Transformation
Things you should know about IIoT & Predictive maintenance
Well, as you may have guessed, we have given a tech twist to the famous proverb – a stitch in time saves nine. However, mind you this is no tongue-in-cheek statement; nor mere wordplay. Knowing what could go wrong in real-time and acting on it before it even becomes a risk – especially in manufacturing, transport, and process industries – has a huge impact on the top line as well as the bottom line. Thanks to Industry 4.0 Solutions – Industrial IoT and Machine Learning, Digital Transformation Services, we are now entering into ‘Predictive Maintenance’ from Reactive Maintenance and Routine Maintenance. The technology side of IoT can be understood as ‘seamless, real-time control through automation’ i.e., connecting a variety of sensors and using that network to run a factory on a day-to-day basis or get information (remember, this is possible only when you have the expertise of an expert IoT app development company backing you up). The business value is in taking that to create actionable insights. Predictive Maintenance for sure. It is a no brainer that Predictive Maintenance focuses on how to predict when certain conditions are going to when machines will fail. What is exciting is that with the advent of IoT and Machine Learning and the ability to do it at scale, Predictive Maintenance is not the preserve of large organizations any longer, but is available for any asset-intensive industry application. In fact, Industrial IoT applications & solutions have been changing the way we do predictive maintenance for the last few years. We can now have real-time monitoring devices at a low cost that sends data to an algorithm on a continuous basis. With the added power of Machine Learning, it can detect whether there is something going wrong with a machine… make a prediction.
Gengarajan PV
September 24, 2020
5
min read
Digital Transformation
Digital Transformation Success: Why Measuring Key KPIs Matter
According to a Forbes report, executives say the top benefits of digital transformation are improved operational efficiency (40%), faster time to market (36%) and the ability to meet customer expectations (35%). As all these factors contribute to better RoI, executives focus on investing in digital transformations. But how do you measure the success of digital transformation initiatives? As digital transitions are long haul, attaining immediate outcomes is impossible and analyzing the performance and progress of the initiatives matters. If you’re a C-level executive looking for a solution to this persistent problem, this post is exclusively for you. There are too many things to measure and focusing only on the realistic KPIs will help you understand the progress and success of the initiatives planned. Leveraging the capabilities of leading digital transformation services is recommended to mandate success. A common mistake most executives make when measuring success is overlooking the critical parameters: of the many, ensuring why your business needs digital transformation is quintessential. Without a need for digital transformation, there is no point in carrying out such an expensive and time-consuming program. Next comes the measuring part. No companies can have the same ways of measuring success and the metrics differ between organizations. KPIs are mostly organization-specific and one list will not work for another company. Here are some of the ways you can set up KPIs for measuring your digital business transformation success.
SHIVA SANKAR
October 1, 2020
5
min read
Digital Transformation
3 Points to Consider While Choosing A Digital Transformation Partner
Digital transformation needs no introduction as several reports indicate that it is widely practised across industry verticals. By all means, digital transformation is a never-ending journey for any organization. As customers and markets, as well as technologies, evolve, there is always a need for companies to digitally reinvent the organization fully or in parts. In the early phase of the 21st century, digital technologies were being deployed in businesses with the main focus on improved daily operations, enhanced efficiency and level of output. Today, a majority of the digital transformation services and solutions focus on delivering specific outcomes to the customer, with the process of digital transformation affecting all aspects of the business. It is rather prudent to use the customer life cycle to make the business case for digital investments. As you look for external experts/agencies to be your digital transformation partner, the market has a wide choice – across technology and industry segments. Obvious considerations before choosing the right technology partner for your digital transformation journey (as with any technology implementation) are: Desired specializations and services, eg. mission-critical solutions, UX/design, social media etc. Previous work/client references Technology alliances/partnerships Industry experience Use of offshoring services Company size, financial, structure etc. Company culture eg. contributions to the industry, investment in staff training, workforce diversity etc. Let’s go beyond the obvious and look at three table stakes in choosing the right partner.
SHIVA SANKAR
October 1, 2020
5
min read
Digital Transformation
Digital Transformation – A Reality Check Before Biting the Bullet
You have been hearing about the Fourth Industrial Revolution. It’s probably the hottest topic for businesses, thought leaders, policymakers, scientists and of course technocrats. Klaus Schwab, the Founder and Executive Chairman of the World Economic Forum, who coined this term, writes – “The First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. The Third used electronics and information technology to automate production. Now a Fourth Industrial Revolution is building on the Third, the digital revolution that has been occurring since the middle of the last century. It is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres.” He makes a very important, pertinent point – “Neither technology nor the disruption that comes with it is an exogenous force over which humans have no control. All of us are responsible for guiding its evolution, in the decisions we make on a daily basis as citizens, consumers, and investors.” While Digital Transformation as a term is still misunderstood, today, digital transformation as a business imperative is widely agreed upon. What then is a digital transformation in practice? Is it an IT project? Or the introduction of a few cool tools in the company? Or the addition of mobility is driven customer relationship management (CRM) initiative to engage customers better?
Anand Ethiraj
October 6, 2020
5
min read
Digital Transformation
Digital Transformation in Construction: Challenges, Technologies and Solution
Digital transformation, unlike others presume, is not exclusively destined for any specific industry. The construction industry is undergoing a rapid transformation and top brands have already transformed their conventional process, technology, and systems with brand-new smart solutions. Why the construction industry needs a digital revolution? If this is the question you’re seeking answers for, well, here’s the answer. The construction industry involving a lot of complex processes, resources, and tools for any given project is never short of challenges. Some of the common challenges every construction firm faces are productivity, communication, product traceability, employee safety, on-time completion, leading to the lowest profit margin and unhappy customers. However, the introduction of techno-enabled digital solutions like IoT-enabled application, RFID tracker, QR-code scanner, asset tracking app, web apps (thanks to digital transformation services) has started to impact the industry and the construction experts have started to shift their eyeballs towards the future technologies to improve profit and customer satisfaction. Before diving deep into the discussion of how modern technologies and digital solutions will transform the construction industry, let’s develop some insights on the challenges and how they impact the RoI of the companies. Loss of productivity Lack of product traceability/material movement Poor resource utilization, management Insecure and unsafe project environment
SHIVA SANKAR
December 3, 2020
5
min read
Digital Transformation
Digital Transformation: CEO’s Perspectives for Business Transformation Success
Digital transformation is one of the most echoed terms in the business landscape today. A major roadblock most companies face when it comes to digital transformation success is the leadership buy-in and this boils down to understanding what exactly a CEO of or top C-level executives of a digital transformation or web application development company goes through when it comes to transforming their businesses with cutting-edge digital solutions like Mobile app development, Web app development, IoT, RPA, AI, etc. Despite the debates on the CIOs have to lead the digital transformation from the front to achieve success, the role of CEOs can’t be overlooked as both CIOs and CEOs have to collaborate together at some point to ensure the painless transition. 90% of CEOs shoulder the transformation roadblocks and challenges according to reports. But the real problem with most companies is that many CEOs still don’t understand the role of marketing the strategy to stakeholders, clearing roadblocks on aligning resources and re-defining the future culture of the organization fully. Here comes the significance of partnering with renowned digital transformation services. This post is all about decoding digital transformation from a CEO’s point of view. The post will help you identify some of the challenges CEOs face when settling out for digital transformation and how to mitigate them.
SHIVA SANKAR
February 14, 2021
5
min read
Digital Transformation
Smart vs. Traditional Manufacturing: A “Never-Before-Seen” Comparison
Manufacturing is an ever-evolving industry and data shows that the industry contributes to the significant amount of revenue to any country. With said that, the industry leaders have started to shift their focus from traditional to smart manufacturing using industry 4.0 solutions as they offer a plethora of benefits to operators, managers, and executives of companies under this sector. To add to that, partnering with a right IoT app development company can’t be ruled out as well. However, a recent study has indicated that still, some companies haven’t taken the smart way (partnering with digital transformation services) to improve the way they work and struggling to accelerate productivity. This post is all about helping companies, still believing only in traditional systems, with specific details and benefits of how smart manufacturing will take their business operations and customer satisfaction to a new level. Industry 4.0 solutions have taken manufacturing by storm. According to a Forbes report, the new machines, devices, and robots will help companies produce better with little human inputs. And according to the Deloitte University Press, Industry 4.0 brings in the physical-digital-physical link. That means the advanced technologies will pave way for connected enterprises that operate smart and deliver unparalleled customer satisfaction. Before getting started with here are a few challenges the industry faces with the manual-only approach.
SHIVA SANKAR
November 24, 2021
5
min read
Digital Transformation
Digital transformation: 6 Ways to Improve Your Workforce Performance and ROI
Gartner believes digital transformation requires making existing processes more efficient and creating or unlocking new value for customers. It allows organizations to understand modern buyers, interact with new ones, and meet their expectations through multichannel customer experiences. Ultimately, digital solutions meet customers’ expectations and open up new business opportunities. Digital transformation is vital for more than just taking advantage of new opportunities to grow and scale, it can also prove critical in shaping the future of some businesses and industries. New technologies and improved customer experiences are the main drivers behind companies investing in digital transformation, but the biggest reason for prioritizing this transformation is that it will enable them to take advantage of new growth opportunities. Leveraging advanced technologies enables companies to shift their business models and adjust to the new normal. Many companies are becoming more conscious about their customers’ experiences, and 92% of leaders are developing complex digital transformation strategies for improving consumer experiences. While there is no question that digital transformation is essential for improving customer experiences, companies investing in technologies that enable their employees typically experience vast improvements in employee engagement and company productivity. Digital transformation is the practice of using technology to dramatically alter one’s business to chase new revenue streams and business models and avoid disruption.
Nandhakumar Sundararaj
January 7, 2023
5
min read
Digital Transformation
Impact of AI on Banking & Insurance (2 Exciting Use Cases)
Digital transformation is taking the financial industry by storm. Artificial Intelligence and Machine Learning are the red-hot technologies transforming the sector, reeling under the pressure of managing customers and their data. Finance is a process-heavy industry and produces a lot of data. The industry has struggled to improve its data management over the years, yet failed due to lack of systems and tools. The real challenge is managing the data with the current systems, tools, and processes. Now, the invasion of AI and ML has enabled Finance companies to improve their end-to-end processes and data management. And the technologies are helping greatly improve the Finance company’s performance, efficiency, and customer satisfaction. With many benefits to offer, companies are heavily dependent on these futuristic technologies. Here are some of the challenges the industry faces daily. Managing customer data Adjusting strategy to improve customer satisfaction Making quick and decisions Enticing customers with offers and discounts Engaging customers Serving customers Risk management Detecting fraudulent activities Improving customer retention rate Enhancing customer satisfaction, etc. Consider any finance-based company – Banks, Insurance, etc., that faces the above-stated challenges daily and looks for solutions to negate them. Before diving deep into understanding the impact of AI/ML in the Finance Industry, let’s throw light on their growth across different verticals.
Gengarajan PV
January 19, 2023
5
min read
Product Engineering
Field Sales Management: 6 Massive Challenges and “#1” Solution
Whenever you hear “Sales,” you immediately think of meeting targets. Most sales managers expect their executives to perform exceptionally and exceed their targets. Setting up expectations and milestones for the field sales team is fine. It is vital for the growth of the company and satisfying the customers. But, without any goal or milestone, it is hard to motivate the sales team to perform well. Nevertheless, in the practical world, field sales teams fail to achieve targets for various reasons. And one of them is Sales Managers facing some stiff challenges in managing field sales executives and their activities daily. Sales managers, instead of addressing the challenges, try motivating the field sales team to perform better; this worsens the condition further. So, it is all about understanding the challenges and seeking answers rather than wasting too much time arguing with the field sales team. Without fixing the challenges in the workflow and streamlining it, there is no point in improving the overall performance of the process and field sales team. If you’re a sales manager facing the heat of managing your field force team and improving their performance, then this post will help you with a practical solution – a field sales management app. This post details the top 6 challenges field sales managers face and a solution to overcome the shortcomings.
Nandhakumar Sundararaj
February 2, 2023
5
min read