Building a Digital Business

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Building a Digital Business

Enabling Growth in a Remote Working ‘New Normal’

The world has gone through significant change over the course of 2020. This has not only changed the way we live; it has changed the way business works. This ‘New Normal’ has urged us turn to digital alternatives to get work done. This has highlighted the need for companies and employers to become digitally savvy.

Digital BusinessInnovation and a digital mindset will help maintain a business’ competitiveness during these remote working times. To facilitate digital skill-building and attract outside digital talent, organizations must first establish a company-wide culture that promotes and encourages digital thinking.

Although it may sound like an overwhelming task to convert the culture of an established business that has witnessed its portion of success over the years, there are a few basic principles that can be implemented easily to encourage and promote a more entrepreneurial mindset within the company.

Embrace Change

According to a report done in 2019, about 40% of executives consider they have the right skills to manage shift in projects in the future. This means that almost 60% of professionals do not feel equipped for or prepared to deal with change. In the light of the situation at hand with COVID-19, the digital world continues to have a huge impact on the way businesses operate and communicate with customers, specialist skills are coming to the front as a vital part of an organization’s talent store.

Advanced analytics, cloud, and cognitive computing are becoming more important across industries. Therefore, there is the need to integrate technologies for the merging of addressing customer needs and internal processes. Video calling, Virtual assistants and digital task managers have become an increasingly useful and essential part of functioning as a business.

Ingrain Digital Culture

Digitally growing companies say that their companies are actively involved in programs to boost risk-taking, agility, and collaboration. Most companies that have embraced digital transformation have shown that the investment in digital culture comes from the top level management.

In mature organizations, this digital culture supports the workforce as employees can avail of initiatives that help them develop and hone digital skills.

Conduct internal feedback

Building in a feedback system enables an organization to capitalize on their accomplishments and learn from breakdowns permitting them to take account of where they are with respect to digital transformation and plan how to move forward. A survey can help provide insightful information that a company may not be aware of. This could provide an opportunity to go about changing the culture of a business and help build a healthy work environment.

A flexible culture that embeds digital while investing in the capabilities of its employees will see an increase in efficiency, employee engagement, the value of their employer brand along with getting the best out of an atmosphere in perpetual flux.

Understand Human Capital

Digital BusinessUnderstanding a company’s employees’ capability is a vital criterion to enable digitization within an organization. To progress, all should be aware and educated on technology and the new resources.

As they are the individuals that can educate the existing employees. The company needs to quantify their digital skill gap and take the required steps to bridge it. This could mean making new teams or to engage new talents within the organization. Recruiters are also vital in bringing fresh talent who are up to date with all the new developments in resources and technology concerning the field.

Keep Learning

Digital BusinessChange in technology and trends are constant. Employees and businesses need to be updated and be willing to learn to keep up with the times. There needs to be continuous assessment of skills and employers should provide training or enough information to their employees that enables them to develop their skills which will ultimately be an asset to the business.

If companies invest in up-skilling they will not only develop existing talent and refuel their skills, it differentiates the organization from others and will attract a new talent pool.

How to come out on top of the New Normal

Build digital experiences for customers

COVID-19 pandemic has altered the way we live. It has affected families, businesses, teams and customers. Regardless of your audience, businesses that focus on digital approaches will benefit in this situation. Businesses need to get equipped to serve their audience in this new normal by strengthening their digital strategies and experiences.

Plan Long-term strategies while managing Short-term objectives

The situation at hand is unpredictable, digitally savvy companies will be in a better position to adapt to short term goals while planning long term strategies. There is not a vivid image on what is going to happen and hence, focus needs to be on making the most out of the current situation and preparing for the future. Digital planning may provide the flexibility required to support rapid shifts.

Attend to the current needs of the Customer

The need for digital technology to sustain e-commerce is important. A digitally prepared business shows its customers that they are ready to handle any situation. Contactless payments and delivery, Voice technology, Artificial Intelligence and Robotic Assistance, Cashless payments, streamlined online shopping, adapted shipping and delivery – these types of digital features are vital in the newly intensified environment of online sales and service. This also includes the right tech stack and suite of managed services to keep it all functioning efficiently despite excessive demand.

Humanize your Business

Digital Business

Companies need to attach value and empathy to their digital experience. Even the most advanced and sophisticated businesses will not succeed if they do not read the current mood appropriately. Giving customers reassurance and transparency will allow them to make this new normal easier to get through. If this is done in the right way, this will result in a positive customer experience, a memorable experience and ultimately customer-loyalty.

Data research

This is the time for customer analysis. Companies should monitor behaviour, sentiments and social needs of their consumer and quickly adapt to their attitude. Digitally inclined companies’ data and analytics will come out on top by having a strong sense of customers’ ever-changing opinions and mindsets.

The Ever-changing New Normal

The phrase ‘New Normal’ has become the most normal thing to hear in the current scenario. The world is biting its nails in anticipation of ‘what’s next?’ Digital BusinessIt has become evident that people view the world as ‘Pre’ and ‘Post’ Pandemic as of now. Post-pandemic is not an appropriate measure, businesses need to be agile and ever evolving will ensure the smooth transition.

The one thing that is sure is that companies using digital platforms to serve their audience, making all possible their activities digitized, educating the workforce and making business digitally savvy will make the transition smoother and these companies will capitalizes on this opportunity. What ever comes out of this situation, the world will come out as one.