Topics In Demand
Notification
New

No notification found.

How Digital Transformation Can Aid Business Growth?
How Digital Transformation Can Aid Business Growth?

August 8, 2022

261

0

Digital transformation among businesses has been taking place for over ten years. But the process has seen plenty of evolving trends and technological advancements. According to a Statista report, by the end of 2022, the projected spending on digital transformation is expected to cross $1.8 trillion. In 2017, the same spending was limited to $0.96 trillion. 

So, you can imagine the popularity of digital transformation that has been boosting across multiple industries and attracting more and more investments from large and small-scale enterprises.

But what are the motivating factors behind the increasing enterprise digital transformation? Well, the answer is simple- to boost either client or user satisfaction levels. Digital transformation has plenty of benefits that we feel deserve individual attention. So, for your better understanding, and to make this blog more factual, we are listing down a few amazing ways that digital transformation can be used to aid business growth. 

So, without further ado, let’s begin!

1. Influencing ROIs positively

One of the major motivations behind the increasing adoption of digital transformation in businesses is increased ROIs. Digital transformation makes the products and services of businesses more accessible to users and their clients. Business owners also have the opportunity to monetize more sources of revenue such as advertising, paid promotions, promotional interviews, features, etc.

2. Boosting the overall productivity

Digital technologies such as AI influence the productivity of businesses positively. For instance, plenty of industries including healthcare, finance, and banking among others have adopted chatbots. These chatbots can resolve more queries faster and reduce the waiting time included in customer assistance.

A Gartner report shows that up to 70% of customer queries via chats, emails, or calls can be handled through the chatbots themselves. The same report also states that the increasing adoption of chatbots has also improved customer satisfaction by up to 33%. In short, more conversations can be handled and resolved with the help of the chatbots within lesser time, influencing the customer retention level positively. 

3. Improving the business exposure

With the help of social media platforms, websites, search engines, and plenty of other such platforms, businesses have the opportunity to increase their exposure to more explored and unexplored markets. A social media report by Statista shows that by 2027, the overall projected number of users collectively on social media platforms can cross six billion in strength. In 2021, this count was limited to up to 4.26 billion users globally. 

The popularity of social media platforms has attracted enterprises to get on board to advertise brands, products, and services. Plenty of small businesses are also using social media platforms to sell and promote their products or services without even owning a physical site to operate the business. These opportunities help business owners in saving money while giving them the fair opportunity to grow organically or through paid advertising.

4. Targeting overseas markets

The major influence of digital transformation in businesses is that it enables the possibility of virtual interactions between business owners and potential clients or customers from even foreign nations. From order placement to shipment, payments to support, digital transformation empowers businesses to be able to handle all business operations virtually. Thus, plenty of modern businesses do not even mind running their operations remotely and using tools such as Slack, Skype, etc to stay in touch with team members and other involved parties. 

5. Organizing virtual hiring processes

To hire and partner with talents from anywhere in the world, IT leaders have started preferring digital platforms to organize virtual hiring processes. Some top names like Amazon, Microsoft, Tredence Inc., and plenty of such companies are involved in enabling smarter virtual hiring processes to find talents across the globe. It has helped new age organizations in finding more suitable skill sets and experiences. Also, it saves candidates from an unnecessary visit to physical locations of organizations before getting a confirmed offer.

6. Automating business operations

Increased automation is one of the many factors that businesses are adopting to boost their productivity and quality of products or services. Also, automation reduces the probability of human errors drastically. A Statista report shows that industrial automation can reach up to $265 billion by 2025 compared to $175 billion in 2020 that the industry generated by the end of the year. Additionally, automation is popular across multiple business operations such as manufacturing, customer service, and shipment. 

Wrapping Up

Digital transformation, for any industry or business, is an ongoing process. Even once any business gets on board in the digital world, it is crucial for businesses to keep up with technological innovations that keep happening to stay competitive. Now, the growth of a business can also depend on how fast it understands and adapts to innovations, or how good its strategies are. 

For example, Google keeps updating its ranking algorithms now and then, so, businesses optimize their web presence accordingly to ensure they are ranking at the top position in their service segments. Relatively, almost all businesses that publish content on websites update their content regularly to keep the content fresh and relevant to the evolving market trends


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


Ahana Pearl is an active contributor and a very creative writer. She loves to share news and updates on various topics that brings great information to the readers. Ahana's love for writing is clear to see in the many interesting topics and information that she has come out with. Her content attracts readers who want more after every article they read!

© Copyright nasscom. All Rights Reserved.