During the past few years, digital technology has revolutionized every area of human existence, including banking, shopping, and entertainment.
Today, technology helps organizations level the playing field by improving connections, streamlining operations, enhancing business processes, and driving customer-centric services.
A digital transformation is no longer a competitive advantage or a passing trend; it’s necessary. In this blog, we help illustrate the benefits of digitalisation through a few examples:
Understanding Digital Technology
Digital technology radically transforms every aspect of human life, including the workplace, entertainment, and communications.
Digital tech entails all electronic tools, automatic systems, technological devices, and resources used to generate, process, handle, and store data.
What makes digital technology important is that organizations can record and analyze the execution and result of supply chains, campaigns, etc.
As a result, marketers, manufacturers, and managers can ensure better efficiency and ROI while investing less time.
Examples of Digital Technology
Let’s discuss some of the examples of digital technology:
Cloud computing is an innovative system where users can record and store big data on processors and make it available through the internet. So, users can expose the data and analytics to people worldwide.
In cloud computing, users have the liberty to manage data on any smart device.
The upcoming, modern fifth-generation telecommunication network technology promises a better, faster, and steadier networking system.
Therefore, 5G encourages improvements in other developments like wealthier streams of big data, linked devices, etc.
With technology progressing faster than ever, it’s no surprise there are digital alternatives to conventional print.
Readers can now access diverse reading materials from a single, portable device. Thus, eliminating the need to carry multiple, bulky books.
In addition, users can change the font size and style according to their preferences.
Combining digital technology and satellite helps users locate devices like smartphones, GPS devices, or systems with an internet connection.
That data becomes useful for other digital apps like mapping technology and help users find specific locations.
During the past few years, social media websites like Facebook, Instagram, Twitter, etc., have experienced a rapid increase in popularity.
These platforms leverage multiple pieces of digital technology to allow consumers to interact via text, photos, videos, and social groups.
Electronic Bill of Lading
An electronic bill of lading is an alternative to the paper bill of lading with a legal rulebook and technology. As a result, eBL replicates the functions of traditional paper bills while offering better sustainability
Top Systems that Are Benefitting from Digitalisation
Now that we’ve discussed what digital technology is, let’s discuss what it looks like in practice:
The financial services shift to digitalisation involves more than mobile banking and cash apps. Instead, it allows consumers to enjoy cardless payments and bankless banking.
An excellent example of digitalisation transformation in the financial sphere is Capital One. After partnering with the digitally-focused ING Direct, Capital One successfully morphed itself into an innovation leader.
The organization placed software at the core and today enjoys over 500 AI patents and a powerful 11,000 tech staff.
Thus, Capital One earns the loyalty of its customers and builds a better customer experience.
Another example of digital transformation is the world-famous shipping company UPS.
The U.S. shipping and supply chain management leveraged digital tools to synchronize its operations, streamline supply chain management, and better meet customer demand.
UPS realized that customers faced two issues during its inception: slow delivery and poor package tracking. Thus, the organization used big data analytics and AI to solve customers’ pain points.
Here’s how UPS transformed its supply chain and shipping management systems:
· The organization used ORION to manage its fleet system
· It enhanced its internal operational systems with EDGE
· UPS leveraged NPT to streamline the flow of packages
Lastly, McDonald’s provides the perfect example of customer-led transformation.
Digitalisation aims to realign your organization to best meet customer needs. Modern customers demand quick delivery, better-quality goods and services, and immediate consumption.
For most businesses, that means customer experience gaps that reduce customer experience. However, McDonald’s spotted these bottlenecks reasonably quickly.
As a result, their team decided to reduce the customer experience gap by innovating the customer journey through CX and improving in-store, drive-thru, and home delivery.
With interactive ordering units, AI drive-thrus, and smart mobile app experiences, the organization has helped reduce the customer experience gap and improve consumer loyalty.
The Bottom Line: Digitalising Your System to Improve Revenue
Research reveals that analysts expect investments in digital transformation to reach 2.3 trillion USD in 2023. Thus, digital transformation isn’t just a ‘trend,’ it’s the difference between a flourishing and obsolete business.
Hopefully, our examples helped you realize the value and benefits of digitalisation. With the help of a digital transformation, your organization can secure better supply chain management, the ability to meet customer needs, secure customer data management, and enhanced profitability.