Tuesday 15 June 2021
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What is Digital Transformation for Businesses?

The definition of digital transformation may vary depending on the business in question. However, in general terms, digital transformation means integrating digital technology in various sectors of the operation of the business. Digital transformation changes the way that a business operates so that it makes better use of modern technology, which will help it become more valuable for the customers and thus, will result in more sales.

Digital transformation means innovating your business. Modern technology exists, and these days, customers have expectations. For example, consumers are used to buying online, so they expect their seller to have an ecommerce store.

Thus, digital transformation means closing the gap between what a traditional brick and mortar business offers, and what a customer today expects.

Digital Transformation and COVID-19 Pandemic

A Singapore accounting firm reports that more and more companies are inquiring about digital transformation since the coronavirus pandemic. You see, in Singapore, letting employees work remotely is necessary for reopening businesses during the second phase of the circuit breaker. For this, firms will need a good internet connection, software solutions for activities like accounting, auditing, HR, bookkeeping, etc.

Furthermore, we can’t be sure when COVID-19 will be gone in the short run. So, for now, the new normal for the companies will be using technology; for example, virtual offices and virtual meetings, e-commerce stores, online marketing, etc. All in all, the pandemic has made firms more willing to invest in their digital technology.

What Will Your Office Need?

Like it was said before digital transformation varies depending on the business in question. Some companies will need more digital infrastructures, while others may not need as much. The budget also differs depending on the required service, competitors’ profile, and customer’s expectations and other norms.

For an effective digital transformation, you must understand your requirements, set goals, build strategies, and set up infrastructures and skills for long term value. To become clearer of how you can do the digital transformation for your company, you should be talking to a party that offers digital advisory services for companies.

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