Digital Transformations Small and Midsize Businesses Should Consider

Today, small and midsize companies simply cannot afford to resist digital transformation — as having a digital transformation strategy is not only beneficial to businesses: But it’s also important to their customers.

And while the benefits of digital transformation include improved productivity, reduced human error, better customer engagement, and higher profit margins, getting employees to adapt to a digital culture can be a challenge. 

That being said, you don’t have to build a digital culture overnight. The following recommendations from Winstar Technologies provide a good starting point for your company’s digital transformation strategy. 

Automated Business Processes

According to a 2017 report from McKinsey Global Institute, many essential business tasks can be automated in about 60 per cent of jobs — including activities such as accounting, data processing, and data backup and recovery. Automating these types of tasks and processes would not only save your business money, but also improve its accuracy, productivity, and efficiency. 

Business process management (BPM) is a great starting point for automating your workplace, as a BPM framework helps to streamline many labour-intensive business operations and prepare employees for digital transformation. To effectively implement BPM in your workplace, however, it’s important to monitor the effectiveness of your framework and make necessary improvements to your business processes and its output. 

Mobile App Development

Building a mobile app is another way to digitally transform your small or midsize business, as mobile apps generate brand loyalty, improve the customer experience, and add value to your customers and clients. Mobile apps aren’t right for all businesses, however, as the need for one will depend on your goals and objectives. 

Ask yourself the following questions to determine whether an app would be beneficial to your business and the customers you serve:

• Do you have the budget to develop a mobile app?
• Would your money be better spent on a website redesign?
• Will the app help to solve a problem your business is experiencing?
• Would the app improve your sales and customer experience?
• Do you have the marketing capacity to promote the app once it’s ready to be used?

If a mobile app could be right for your business, look for an experienced app developer to complete your project. You might consider hiring an in-house developer, working with a freelancer, or outsourcing the project to an app development company. 

Cloud-Based Accounting

If you haven’t already moved your accounting activities to the cloud, doing so will benefit your business in several ways. As one example of these benefits, you’ll be able to track and manage your invoices, bills, expenses, and inventory from anywhere there’s internet access. You can also create and send invoices electronically, helping you to save time and get paid faster.

There are many cloud accounting software options to choose from, and the right one for your business will make it easy to maintain your tax compliance, track your expenses, and organize your business finances. Look for a plan that fits your business size and budget, and make sure the software you choose can be integrated with the other business applications you regularly use.  

Digital Workplaces

Fully remote workplaces have become much more common since the start of COVID-19, and about 25 to 35 percent of American workers continue to work from home as offices reopen throughout the country — according to an article published in Fortune.

If given the opportunity, however, many workers would prefer to work remotely at least part of the time, even as coronavirus cases decline. After all, digital workplaces save workers money on commuting expenses and make it easier to maintain a healthy work-life balance. 

Moreover, digital workplaces benefit businesses as well. By allowing your employees to work from home at least part of the time, you’ll experience reduced employee turnover, improved productivity, and a reduction in overhead costs. Plus, lots of technologies are available to help you adopt a digital workplace, from cloud-based document managers and data analytics tools to collaboration platforms and video conferencing apps.

Final Words

Digitally transforming your business is an excellent way to land new clients, build customer loyalty, and keep your business operations running smoothly through the years, but it’s important to start by building a digital transformation strategy. With a good plan in place, you’ll successfully integrate technologies like cloud-based accounting, mobile apps, and automation tools — and transform your business for the digital age. 

Winstar Technologies shares computer and internet technology guides that are both easy to understand and implement. To learn more, visit winstartechnologies.com or email info@winstartechnologies.com.