With the rapid growth in technology and the continually evolving landscape, “Digital Transformation” has become the business world’s buzzword of the century.
Digital transformation isn’t a new concept. In fact, it’s been happening ever since the technological “big bang” in the 1990s. Before you shirk away in disbelieve, think about this: companies used to only be able to send out promotional direct mailers. Today it is estimated that as much as 87% of marketers globally rely on email marketing1.
The difference is, way back when, it was simply called “business transformation”, the big umbrella that carried anything and everything that you could do to make your business better.
Fast forward to today, with majority of the world still reeling in the effects of Covid-19, digital transformation once again takes centre stage. And like a phoenix rising from the ashes, it’s come back with a spanking new image.
Here’s the lowdown on everything you need to know about it.
Beyond the hype, it simply refers to the process of using technology in the most efficient way to create or modify business processes. The real value lies in what you can gain out of it now.
More than just substituting hardcopy with softcopy, or replacing typewriters with laptops, digital transformation has truly evolved. Modern set-ups give you the ability to convert raw data into actionable insights, predictive statistics and even AI-powered automation.
Exponential growth, sharply accurate business foresight worthy of replacing traditional “acumen”, maximum productivity and massive ROI, that’s the reality for digital transformation adopters.
Needless to say, it isn’t a magical overnight process. Digital transformation requires definite changes and most importantly, buy-in from all stakeholders.
“Change is the only constant”, no truer words have ever been spoken. At the starting point of every digital transformation journey is the glue that binds. That glue is the Enterprise Resources Planning system – ERP in short.
When organizations shifted from offline to online, they found that they were unable to fill the gap between the two systems. Enter, the ERP: an all-encompassing online platform built upon the offline foundations. Suddenly companies realized that they’ve been sitting on golden nuggets they never knew existed in the deep trenches of their filing systems. It didn’t take long before businesses figured out that ERP could not only cut time and manpower costs significantly but allow them to do more revenue generating processes with greater efficiency.
That said, a robust ERP system effectively takes what you’ve been doing physically and converts that to processes that you thereafter do digitally.
Better yet, with the advancement of cloud ERP technology, working from anywhere is now a reality. The world never sleeps, and your business won’t too!
A study2 in 2000 showed that ERP systems directly contributed to improved supply chain management, shortened process cycle times, lowered costs and reduced inventories for over 60% of Fortune 500 companies.
In a separate study3 exploring the benefits of ERP implementation, the operational and infrastructural benefits were the top two categories quoted by respondents.
There’s no denying the advantages of implementing an ERP system. But like a good car, it takes a good driver to bring out its excellence.
After the invention of digital transformation, new doors of opportunities opened for industries. To tap on those, ERP systems were introduced. These systems have the capability to develop customized business solutions. In addition to this, ERP systems have intrinsic features that improve functionality, which gives businesses the competitive edge to work better in the longer run.
As the saying goes, two heads are better than one. ERP systems come with various integration features for performing a multitude of tasks. Case in point: when CRM integrates into an ERP system, what occurs is a significant transformation in various business processes from sales to fulfilment. This enables your company to leverage on the latest technology to improve exponentially.
ERP systems use analytical tools and other technologies to simplify the complex processes of a business. What makes this possible is the various extensions available with such systems. These extensions are responsible for harmoniously marrying your existing system into the integrated power pack ERP solution and as a result, digitally enhance your business.
ERP systems are highly scalable so you can always be assured that it will grow with your business. This is by far the best reason to use ERP systems for digital transformation. As long as you regularly upgrade your system, it will remain a faithful and dependable companion. In addition to this, you won’t have to incur hefty fees annually by purchasing new software or replacing the existing systems.
It’s no longer just hype and mambo-jumbo anymore. We are in the future today and businesses need to not only embrace technology but to embed it into its core.
To reiterate, it gives you the best chance you’ve got to build a future-proof business.
CRT Insights Technologies not only provides world-class ERP solutions but also expert advice from experienced regional consultants. Contact us and quote “Live-in-5” for a free 1-hour consultation on your ERP needs today!
This article is part of a campaign for CRT Insights Technologies’ Live-in-5 Rapid ERP Implementation programme. 5 Easy steps to get you future ready.
1 Content Marketing Institution, 2019 2 Stewart, Milford, Jewels, Hunter & Hunter, 2000 3 Shang and Seddon, 2002
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