If there’s one thing for certain that the past couple of months proved, it would be that keeping up with tech is essential for businesses. This was already the idea even before the pandemic hit, that traditional businesses need to start considering using technology to their advantage. Not a lot found it necessary to jump on the bandwagon and now they’re scrambling to make huge changes in their operations.
According to some experts, lots of businesses that were not able to go online before the lockdowns had to take on major transitions that usually take up to 3 years in just a couple of months. This has proven to be a huge undertaking that costs a lot of money and stress. And of course, the results are not as smooth as many would want.
This is just one example that proves that it’s the best time to take the plunge and adapt to the changes that modern times require. Using technology for your business is now more important than ever as it can help you prepare for unexpected happenings in the future.
Digital Transformation as a Means of Future-Proofing Your Business
There are several ways how you can integrate technology into business processes to equip it for facing significant changes in the future. Digital transformation is the blanket term for the implementation of these technologies.
Digital transformation is not just one process, though. It can come in different forms and scales, depending on what process you’re trying to improve. It can also refer to the upgrading of older technologies to new ones to further boost the performance and efficiency of certain procedures.
The biggest benefit of digital transformation is that it makes businesses more agile. This allows them to quickly adapt when changes become necessary. Take, for example, those companies that already had cloud-based systems in place before the pandemic hit. They were the ones who were able to shift to remote work when the pandemic hit as they’re not completely reliant on their systems in their offices. With everything they need available on the cloud, they were able to quickly implement new changes to their operations without missing a beat.
Those without the necessary infrastructure and technology in place had to rush to put them in place when people were forced to stay at home and isolate. This caused great disruptions in terms of work, productivity, cost-efficiency, and profits. In one survey, 34% of the respondents shared that their companies were not ready to shift to remote work. With this massive number, it can also be assumed that the losses caused by the work disruptions could have caused millions of dollars in productivity.
On the other hand, studies also show that those who were ready to go remote are already reaping the benefits of their digital transformation despite the tough times. While it can be argued that tech is not the be-all, end-all solution, and protection from all sorts of challenges, the use of technology can still mitigate serious issues.
It’s crucial that companies start investing now or soon, at the very least, if they wish to make the most out of technology helping them tide through this global health and economic crisis. Again, as mentioned above, the technology requires both time and money as investments.
Aside from the costs, the size of a company’s operation can also affect the speed of onboarding. Smaller startups might not have the same budget as large corporations but they will be able to implement new technologies right away. Bigger corporations might take longer to smooth out all the kinks. Nevertheless, adapting necessary technologies for your business’ processes will adequately equip your venture to face new challenges so it should be done right away.
Types of Technology Businesses Should Consider Adopting
Interested in looking for the right kinds of tech to implement in your business? There are lots to choose from so the selection process can be a bit challenging. However, to avoid getting overwhelmed, prioritizing certain areas can be done. By focusing on specific departments that need the most attention and boost for better productivity, targeting problem areas will be done more effectively.
In general, however, there are three top kinds of technology that businesses should focus on:
The name may sound daunting but it’s not as complicated as it may sound. Hyperautomation is simply the application of advanced technologies to boost processes. It uses multiple software and combines it with robotic automation to provide an enhanced automated system. These systems are designed to execute different kinds of business processes, simplifying tasks that used to take up a lot of time and effort. It uses machine learning and artificial intelligence to understand and complete tasks.
Businesses will find hyper-automation very handy in performing end-to-end processes. As the software is crafted to learn from experience, it will be able to tweak and simplify procedures to boost effectiveness and efficiency. As the program works around the clock, it also ensures that the data is always up to date. This also allows it to predict more ways to boost a business’ efficiency.
Hyperautomation is consistently a top tech for businesses as they cover various bases. Aside from efficiency, it can also help ensure that the processes being implemented are secure and intelligent. These will help keep any business on its feet and react accordingly to any curveballs thrown it’s way.
This kind of technology refers to the splitting of data storage. It can be done by distributing data to various service providers or by using a distributed data provider. It also seems complicated as it will cause businesses to use different storage platforms but it promises better as well as data access, security, and sovereignty.
Multicloud computing proved itself to come in handy in recent months as it helped smoothen most people’s transition to remote work. The use of this tech allowed the use of multiple computers in various locations without a hitch.
Last but not least is cybersecurity. Attacks to data owned by corporations and businesses are always at risk so protecting them is crucial. Any kind of vulnerability will cost a business millions of dollars, so they have to be well-guarded.
Unfortunately, the current work setups make lots of businesses in danger of cybersecurity attacks. So to prevent anything bad from happening, investing in a good piece of tech for data protection is non-negotiable.
It should be a part of a larger, highly proactive defense strategy that should be implemented effectively and in close coordination with employees. It’s vital that everyone is on the same page so the defense system is bulletproof.
These types of technologies are just some of the many a business can implement according to their needs. Lots more will prove to be very helpful in smoothing out the processes and operation of any enterprise as long as they are implemented properly.