Business transformation to improve your ROI

Nowadays, every company that considers itself innovative has to take business transformation processes seriously. What do we mean exactly? Well, not only to the important concept of digital transformation , but also to a whole conglomerate of actions with an integral spirit that make up the business strategy.

The modernization of companies must be a whole that includes from the physical space, to personal relationships through the technology used or the user experience factor, among other considerations.

 

Keys to improve competitiveness in your company

To achieve an improvement in competitiveness we must look beyond the purely economic. To think in a complementary way in work and user experiences that are pleasant, as well as to use attractive, safe and democratic technological formats (in the sense that all people have access to them) are a base that we are working to optimize our resources. It is a way of creating “branding” (brand) that can eventually lead to the return on initial investment.

There are studies that support the IT transformation as a key factor to maximize our ROI . Business planning in this regard is paramount. It is proven that companies that do not have a development plan, in which improvisation prevails, have more difficulty getting ahead.

However, those who are committed to a modernization thought in advance, which analyzes the challenges and opportunities that develop realistic, agile, solid and innovative plans are more likely to grow and expand.

It should be noted a more common error than desirable when launching a business transformation process: companies often drop the weight of digitalization in technology departments, when the ideal is to be an integral process that involves The entire company , from the private employee to the managers, through the clients, to whom one way or another can be made a participant.

In other words, the digital transformation cannot and should not be a tight compartment. Therefore, a strategy with peripheral vision , with well-defined objectives and change engines in good shape is necessary.

 

Digital transformation and growth

According to studies by the EIU (Economist Intelligence Unit) 77% of companies that launch a large-scale digital transformation increase productivity and competitive skills in their workforce.

Companies must be aware that if they yearn for a positive ROI they must invest in these processes of business transformation, and far from being a capricious operation, in the medium and long term they generate benefits, not only economic, but also structural .

In summary, the technological transformation must be known to the entire management dome and in line with the company’s business objectives. Although it is finally planned by the CIO, it will require a global follow-up that ensures that this transformation is carried out in a cultural way, taking into account tools, processes and people. It is recommended that around 5% of the annual profits of a company be allocated to IT transformation actions and, therefore, to processes to improve competitiveness.

 

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