Digital Transformation And The 5G Era – What To Expect
The time has come to truly bring Digital Transformation into your company if you want to have growth and development opportunities for your business. New technologies have changed the way we approach daily life and business. If you don’t adapt yourself to innovation, you won’t have time to keep your place in the business world. Here’s what you need to do: introduce new technologies, implement current ones, change business models and processes. But to exploit this trend in all its potential it is necessary to start from a cultural change.
What are the characteristics of digital transformation and how can you use them to your advantage? First it is important to understand that digital processes affect all of us and represent both the present and the future. Digital transformation is a process that affects every aspect of society. Choosing to integrate it within your company will improve the performance of your company and the experience you can offer to your customers. Using 5G and upgrading systems is the first step in beginning a new journey with your business. If you are turning over a large quantity of capital and have already established a hugely successful business, then you most likely already know about the huge benefits that digital transformation is going to have on your business.
What really is digital transformation?
Generally speaking, digital transformation refers to the great impact that new technologies are having on society and businesses. The impact of new technologies and the extent of the change generated affect the entire society, starting from public organizations to reach individual citizens. Technology isn’t just for replicating an existing service in a digital form. The use of computers, new equipment and latest generation software are only means of transmitting a digital culture within your company. Digital transformation profoundly changes the concept that the worker has with respect to their job and the ways in which the company manages all production processes. Oracle 5G Service Communication Proxy has assisted plenty of businesses so far with their 5G solutions and services. With Oracle SCP, you can ensure perfect working order of your network systems.
The types of changes have occurred in the following areas:
- The work ecosystem: New businesses have radically changed the work sector, introducing sectors and figures linked to the online world that, before the Digital Transformation, did not even exist. Eco- conscious choices are leading the way in the bigger companies across the world.
- Business management: This will affect many business facets, from marketing to commercial activities. The basic organization of each activity is managed with completely different tools, with innovations that also concern the operational fields, administration, service.
- Business processes: Business processes are perfected, computerized and automated. In this way the processes for internal management and customer relationship are more tested and effective. Things can be done more efficiently, and with more security.
- Business models: The implementation models and the ways in which income can be obtained have also changed. In particular, the way of dealing with customers has changed, monitoring their behavior, obtaining data and analyzing them.
- User experience: The user experience is the aspect most affected by a digital change. Thanks to the use of new tools, the interactions between users and companies are simplified, bringing advantages in terms of sales and satisfaction. Customers have increasingly high demands, the risk of disappointing them by not adapting to the digital transformation risks making you overwhelmed by the competition. It also means that targeted ads can be much more beneficial and cost-effective.
This is a fundamental question to understand who should lead the digital transformation within your company. Right now the figures who are being placed at the helm of change for digital transformation are the CIO or CEO and the CDO. As the CEO of your business, the decisions shall be undertaken by you, however this also comes with the added pressure of ensuring all your team are well averse with these new systems and that they have adequate training to match the quality of the services.
Training your team adequately
It is important that the internal staff of the company can perceive the advantage deriving from the use of new technologies (in terms of safety, simplification of processes, production speed, etc.) and not instead suffer a drastic decision that could easily lead them to losing their jobs or feeling inadequate. To get a better idea of some of the sectors that will be affected, here is a compiled list:
- Big data and data analysis
- Cloud, fog and quantum computing
- Cyber security
- Integration of Next Production Revolution
- Rapid prototyping
- Visualization systems, virtual reality (VR) and augmented reality (AR)
- Advanced and collaborative robotics
- Human machine interface
- Additive manufacturing and three-dimensional printing
- Digital integration and development of business processes
- Digital editing programs
Now is the time to start implementing those changes and beginning to incorporate new technologies to keep on top of the ever-changing reality of business. The response of companies has been very positive because they have found a way to gradually approach new and highly complex issues through free tools. Some of these include: seminars, workshops, digital assessments, mentoring, that are easily available on the internet. CEOs should be well aware of these changes and seek to capital them in advance to ensure that the right amount of finance is spent on the above. The team should be well trained for 2021 and aware of any changes occurring in the company. To plan the whole strategy you need to have a clear idea of what awaits you and how you need to lay the groundwork for change to really happen.
Business strategy and processes
Acceleration is the key word in modern business processes. Until recently, companies based their strategy on long-term projections. Management made ten-year plans that remained unchanged and reiterated but today these plans have to change quicker. The world has become very complex and having just one strategy to run your business is not enough. The only way to face an accelerated and complex reality like the one we live in now, is to know how to experiment, evaluating every type of scenario. The winning strategy is therefore to have a range of options to experiment. If one fails, you could still develop others and continue playing.
Tools and software
Adopting modern software development tools and processes is essential if you want to bring the digital transformation of your business to life. Cloud-native tools and architecture, along with agile and automation flows are designed to simplify the management of your business processes and increase the speed of operations. We have already spoken about Oracle and the 5G technology that can create new jobs and opportunities but it’s important to note that technology products are continually improving and being upgraded. Winning organizations are not afraid to be accompanied by developers at every stage of growth. Or put in the capital that is needed to buy software. Amazon, Google, Airbnb are excellent examples to understand how updating and the ability to seize opportunities quickly can lead to success.
People are one of the pillars of digital transformation, taking part in the process as both employees and customers. Being a leader means being an excellent communicator and understanding any fears of employees, relating to safety at work and the ease of use of tools.
Explain to your employees that you are introducing new technologies to simplify their work, to help them manage time better and to increase productivity by reducing effort. If your concern is the impact new technologies may have on customers, know that you will be amazed by their reaction. Customers are the first to want top quality service, and technology can help you deliver it. Explain the benefits and possible promotions of learning new skills. You will see that with a better service, you will also be able to retain your customers by allowing them to choose you every single time. The goal is to spend money to create money, a concept that businesspeople will not find difficult to grasp.
When it comes to digital transformation, innovation cannot be ignored. The key is to understand who should take care of the digital transformation and assume the role of leader. You will grow the company’s turnover and improve your business, but you must rely on those who can help you find new ways of operating, in line with today’s needs. Does your innovation also relate to your marketing? It should. Remember that when things go digital, so does your marketing. This is vital to create exceptional marketing campaigns that are innovative and fresh, leading to the generation of sales and website traffic.
The use of new technologies allows companies to respond quickly to market demands, with an increase in productivity and revenue. In an optimal situation, employees should feel involved in business growth and therefore will be able to work better. Thanks to new technologies, there is also greater well-being and greater productivity for each employee. Change starts now, and so does your future success.
JR Dominguez is the technology, finance and music editor for MiLLENNiAL. When he's not writing, you can find him day-trading stocks, playing video games, or composing commercial scores.