CEO of Rialtes Technologies, a global business consulting and cloud-based property management solution company headquartered in Austin, TX.
One of the most highly discussed topics in recent times is digital transformation—something that every enterprise has its eyes glued to. If implemented right, a digital transformation can make an organization a hot commodity. It’s quite simple: Whoever stays technologically updated keeps at least two steps ahead in the game. In fact, some enterprises around the world have seen exponential growth and, with it, better reach.
The high-tech industry essentially is responsible for digital transformation across all industries. Electric vehicles and smartphones are now an integral part of our lives and are powered by artificial intelligence (AI)-enabled chips built by high-tech companies. And technology plays a pivotal role in day-to-day operations, including predictive and prescriptive analysis. Enterprises that embark on a cloud-first approach also use the technology for their digitization processes.
There’s, in fact, heavy pressure on the high-tech industry to continuously produce the best products without compromising on quality, all while facing stiff competition from the market. To do this, leaders need to understand the when, why and how of implementing the right digital solutions and get the most return from their investments.
Where To Start Your Digital Transformation
Digitizing Processes: When companies start adopting a digital transformation as a part of their journey, they should start with improving and redesigning their processes to seamlessly integrate into the cloud ecosystem. Another crucial step is to seek operational insights to make informed decisions.
Digitizing Channels: Channel partnership is a two-way street in delivering the right experience for businesses and their partners. For this to happen seamlessly, companies are now transitioning from product-centric models to service-focused ones, and this includes overhauling the design of the core organizational structure.
Digitizing Operations: I believe that large organizations that have implemented robotics process automation (RPA), AI and advanced analytics will continue to see improvements in existing processes, their operations and error reduction. Yet, organizations of all sizes have also started to focus on business-critical problems that require strategically designed solutions.
Focus On The Trends
Advances in information technology are directly related to the needs and wants of enterprises globally. Moreover, leaders, regardless of industry, are focused on major trends that directly or indirectly impact their organizations, such as big data and cloud computing.
Big Data: Big data can help leaders perform predictive analysis, as well as mine and nurture the data. There are also tools available that mimic human language to assist leaders in developing effective responses.
Cloud Computing: The right cloud computing strategy can help reduce investments to free up resources for other initiatives. With a proper cloud strategy, manufacturers can scale IT infrastructure faster to respond to new opportunities.
And it doesn’t end here: AI and machine learning, RPA and many other advanced capabilities can be deployed to create a service-based business model. But to have sustainable growth, high-tech company leaders should take bold actions by investing the time to understand the market forces and setting up partnerships with non-high-tech businesses. Leaders will need to create an environment of perfect synergy between their organizations and companies from different sectors.
Technology will continue to disrupt industries and the lives of leaders. And businesses will likely continue to see sustained growth if their leaders are willing to take bold actions to digitize channels, streamline business processes and operations, and create leading products or services.