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Technological Innovation: What Affects the Era of Digital Transformation

Technological Innovation: What Affects the Era of Digital Transformation

The need to stay in touch, in a period like the one we are currently experiencing, has changed our lives and that of organizations. The use of technology in companies has become a key factor: many have had to redefine their business models. And is your company ready digitally?

The use of technology in companies is changing business models. However, the pace of evolution differs between organizations. In fact, many of these have not yet actually started the path towards digital transformation, which could determine their survival in the near future. Success, therefore, lies in the ability to adapt to a world in constant change such as the current one, which undoubtedly requires investments in technology. The latter must be adapted to the needs of the company and must therefore be focused on results, innovation and continuous improvement.

In fact, innovation and the adoption of technology in companies, if used correctly, translate into better results in terms of business. How? Thanks to the ability of digital transformation to accelerate activities, processes, skills and models . Thus the changes, impact and opportunities of these technologies are exploited strategically within the company. 

The importance of technology, therefore, is indisputable if your company aims to be successful in the near future.

The consequences for organizations that have not yet initiated this transformation can even be devastating. Investing in technology is today more than ever necessary and essential. If your company has not yet done so, the time has come to start the process of change with a 360º strategy (technological innovation, the Digital Customer Experience,   the involvement of all company agents, external environmental factors, etc).

Impact of new technologies on businesses

The digital transformation does not only concern technological innovations and their influence in business, but also, if not above all, the way in which these technological innovations are adopted and used in companies. In this sense, questions arise about the value they bring to the organization and their ease or difficulty in terms of adoption.

Other factors also come into play for a correct evaluation. Are we competent enough to use them properly? Are they simple and intuitive enough to be used successfully? In addition to the use, organizations have to deal with external influences, such as regulations, economic changes or competition in the market. It follows that the choice of technology that companies decide to adopt will affect key factors such as profitability, customer satisfaction and the ability to adapt to fast market changes.

The digital transformation of businesses in 3 stages

The reflections just explained demonstrate how necessary it is to adapt to this new scenario. Technological innovation passes transversely through the digital transformation of businesses. Let's see it in detail.

Phase 1: change management

First, the actors involved need to be aware of the change they are facing. This may require the assistance of third parties for the implementation and promotion of the new technologies acquired. For this paradigm shift, new job positions may be necessary, often with high-level roles, specialists in the management of new technologies.

Phase 2: definition of the digital transformation strategy

Execution and then evaluation of the innovations implemented. To achieve this, it is important to make use of the tools and opportunities offered by the various Marketing Automation tools , which allow us to automate many of the procedures. In this way, in fact, it will be possible to devote more time to other areas, such as the measurement and analysis, fundamental, data in hand, in order to anticipate new opportunities or see in time possible threats to our business.

Phase 3: integration of technology in companies and its evolution

In this digital transformation process, the combination of all strategies and all channels is fundamental: the omni-channel at the service of the company and the user. It is a constantly evolving process in which alliances with third parties can be a turning point.

Digital transformation must be understood as a revolution and not as a change, even if each industry has a different adaptation process. Technological changes will be accompanied by major transformations in the design of workflows, media, communication and many other business areas.

In a context of digital transformation, therefore, the functions, processes, activities, assets and business models are interconnected. The impacts are not only on sector structures and strategic positioning, but concern all levels of the organization. Business leaders must constantly monitor their realities and the world around them, and must be able to ensure that this change brings productivity improvements to obtain a significant competitive advantage, while offering a unique and exceptional experience to their own customers.

Author Biography.

Parveen Rawal
Parveen Rawal

Content Writer

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