Company executives, more often than not, refer to the term ‘business transformation’. Business transformation, in the simplest terms, is the collective effort involving integration of a robust digital strategy into operational areas, introducing changes in the operational model and business strategy. That is why the implementation of the right digital strategy holds the key.
The right approach to business transformation:
The correct approach to business transformation is to first re-think or re-imagine the existing processes and then think about how a certain technological change can actually bring about business transformation. If you think it is just ‘digitising’ your existing business processes, think again, and don’t fall into the competition trap.
Business Transformation in Singapore:
Today’s business world is all about ‘transformation’. If research study is anything to go by, 75% of the S&P 500 will undergo a major business transformation in the next 15 years. What’s more pressing is the fact that the number of industrial leaders losing their dominance in recent years. Surprisingly, another study indicates one in three companies will delist in the coming five years. Software is ruling the roost, and unicorns are galloping full speed. While businesses in Singapore recognize the challenge, the approach to business transformation can be daunting.
Business Transformation – Redefining business and staying ahead of competition
Business Transformation Services:
Now let us talk about key technological changes that play a critical role in actualizing business transformation: Custom software development is still the most cost-effective way for building software, though SaaS software can be less than the cost required in licensing the commercially available software. The advantages of Custom Software Solutions are myriad: personalization, enhanced security, business scalability, effective integration, cost effectiveness and complete support & maintenance.
Mobile Application Development can be fully personalized to fit in business transformation. Bespoke Mobile App Development including Native and Hybrid apps offers business owners a host of benefits such as enhanced personalization, instant payment system, increased customer loyalty, reduced time to resolution, superior end-user experience, data synchronization offline, real-time data collection, improved business decision making, greater customer interaction and improved revenue.
Web Application Development, in recent times, has driven business transformation in a powerful way basically with web design and development, enterprise ecommerce development, and mobile responsive web solutions with several business advantages including easy customization, easier installation and maintenance, improved interoperability, flexible core technologies, adaptability to increased workload and increased security.
Digitalization in business operation areas:
Business transformation, as mentioned above, is just not limited to implementing technological changes. Digitization applied across key organizational areas such as HR, Finance, Project Management, etc can impact the overall productivity, customer engagement and profitability.
For instance, what when your project expands in size or you want to win new businesses? A project resource planning software can show you how to attract the required resources to achieve the planned tasks. Additionally, they can integrate easily with your exiting accounting solutions, CRM and financial information
Digitization of time tracking with Human Resource Management System Software provides accurate time tracking, thereby preventing payroll errors. And what’s more when you can improve your staff morale and enhance productivity.
Similarly, any organization that could upgrade to a time and attendance systemwill be able to minimise payroll errors and increase in absenteeism. A Facial Recognition Software, simply time management software using facial recognition technology can impact report attendance, overtime and absence with an identification process that is accurate as well as fast.
As we discussed above, the efforts to bring about business transformation should be well linked and coordinated through a carefully developed capabilities link. This is the way established brands, and even startups and SMEs in Singapore can rise to the challenge thrown to them, and disrupt the transformation process.
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