Year over year, to maintain a competitive edge, businesses are exploring new ways to improve efficiencies while increasing revenue. As technology is improving and advancing to the cloud, significant changes are taking place that help employees complete value-adding tasks faster and easier.
Transitioning paper-based business processes into digitized ones is key. The two dimensions of digital transformation include:
- Digital customer experience
- Digital operational experience
Digital customer experience involves all of the aspects that a customer perceives. A key point would be digitally enhancing products and services. By storing all the related documents for a customer in a single source cloud document pool, all authorized users can have access to information for immediate inquiry resolutions—no matter if in the office or on the road. Imagine this application for professionals who travel frequently. The takeaway is to implement tactics that will digitize processes and, in turn, simplify the consumer experience. Nothing is more satisfying to a customer than to have their vendor know all the information for a specific business transaction when they are on a call.
Digital operational excellence involves all aspects on the “day-to-day” business side of the house including: human resources, invoice processing, task scheduling, and order processing. By digitalizing traditional paper-based business processes, operational excellence can be easily achieved.
According to McKinsey Global Institute’s 2017 analysis, countries at the top of the digitization trend include the United States, United Kingdom, Germany, France, Netherlands, Italy, and Sweden. When transitioning an organization through digital transformation, main objectives include operational efficiencies, customer satisfaction, increasing market share, business innovation, and digital customer lifetime value.
Another benefit of implementing cloud document solutions is the widespread implementation across various departments. In accounting, for example, digitization can help with invoice processing, contract management, and maintaining accounts receivable. In sales and marketing, digitization will ease proposal development, contract renewals, and prospective customer inquiries. Research and development (R&D) may be simplified with digitization, for testing documentation and announcements. Regardless of the department, transforming your hardcopy documents into digitized ones will enhance value-adding operations and, in turn, increase revenue.
The advantages of transitioning into the digital revolution is beneficial for various departments within a company. By implementing digitization into both the customer and operational experiences, processes will be simplified, easily coordinated, and more efficient. The benefits of implementing digitization produce a high probability that your company’s revenue will increase year over year.