7 Digital Transformation Trends Your Business Should Know About
The recent COVID-19 pandemic has changed the way a lot of Sydney businesses think about technology and how important it is to their operations.
This year, cloud platforms like VoIP and video conferencing have become “must haves” and remote teams are now the norm rather than the exception.
77% of employees say they’re more productive working from home, and businesses got the chance to see that in action this year. Many plan to keep employees full or part-time remote once the pandemic has passed.
Businesses that want to stay a step ahead of the competition need to stay on top of digital transformation trends so they can benefit from them and not be left behind.
What advantages do small businesses have when they embrace digital transformation?
According to a study of Australian companies:
- 28% higher revenue growth over the past 12 months
- 60% more revenue earned per employee
- Earn more revenue per employee per each technology advancement
Digital Trends to Watch & Prepare For
1. Improving Customer Experience with Technology
Customer experience has been a buzzword for a few years now, and it’s a trend that businesses are spending money on. 51% of surveyed executives say they plan to increase their spending on customer experience in 2020.
The experience a customer has with a business goes beyond just customer service and includes how they are able to interact with a website, their ordering and product/service delivery experience, and more.
Using technology to improve and automate customer experience through personalisation and AI-generated features like user recommendations are important trends that directly impact a company’s bottom line.
2. Business Intelligence to Handle All That Data
The use of technology in multiple areas of a company’s operations have allowed them to collect more data than ever. But collecting that data and making sense of it are two different things.
Big data overload is happening all over, and the way to solve this is through the next trend, intelligent business analytics. Business Intelligence (BI) dashboards bring together multiple data sources and are able to do the “number crunching” to provide comprehensive insights that can lead to faster and more informed business decisions.
3. Complete Cloud Adoption Wins the Day
For any businesses still operating with device-based software or landline phone systems, the pandemic was a wakeup call of the importance of a completely cloud-run workflow.
Today’s businesses have to be ready for anything, which means having the ability to operate from anywhere. This requires cloud processes that make anywhere-access possible.
Some of the ways that businesses will complete cloud adoption include:
- Replacing on-premises servers with SharePoint Online and other cloud services.
Switching to VoIP phone systems from landline systems.
- Enabling non-cloud software “in the cloud” by use of a virtual desktop.
- Expanding network security beyond a single office through VPNs.
4. Hybrid Remote & In-Office Workforce
A remote workforce is now on everyone’s mind and many businesses have been operating with one since early this year. What used to be seen as a “perk” is now seen as a business necessity in many cases.
During the height of the pandemic, 88% of Australian employers encouraged their team to work from home.
This digital trend is a legacy of the COVID-19 pandemic and will involve businesses putting in permanent infrastructures that support a hybrid environment of having some employees working remotely and others working in office.
This will include strategies to keep everyone connected and on the same page and extending security and IT management support to devices that are off-premises.
5. More AI-Powered Processes in Cloud Tools
Artificial intelligence isn’t just for large companies, it’s being infused into the everyday software of small and mid-sized companies as well. Soon, AI-powered processes will be an expectation when it comes to SaaS applications.
For example, Microsoft has already been adding AI-powered features to its Microsoft 365 platform that do everything from automate charts in Excel to correct your intonation during an oral presentation in PowerPoint.
6. Creative Use of Video Meeting Apps
Video conferencing is another trend that took a huge leap forward thanks to the pandemic. Being able to safely meet face-to-face has many businesses wondering how else they can deploy real-time video to facilitate client interactions.
Some potential trends include adding a video chat (rather than just text-based) to websites and installing more video throughout their workspace in the form of “huddle spaces” that allow 2-4 people to video chat in seconds.
7. Increased Focus on Preventing Credential Theft
Credential theft is only becoming more prevalent. A recent data breach investigations report from Verizon showed that stealing passwords is now the #1 target of phishing emails and 77% of cloud data breaches are due to credential theft.
Currently, approximately 58% of companies aren’t sure how their employees are handling passwords, but that is projected to change as cloud account breach rises.
This means that more companies will be adopting safeguards like password management applications and multi-factor authentication (MFA).
Stay Ahead of the Competition with GKM2
Working with GKM2 can help ensure that you’re ahead of the curve when it comes to technology and digital trends. From cloud workflow customisation to a remote workforce, we’ll help you put the best affordable tools in place.
Contact us today for a free consultation. Call +61 2 9161 7171 or reach out online.