Digital transformation has recently become a full-fledged buzzword. Everyone seems to be talking about it. We at Evercode Lab fully support this popularity and would like to share our perspective on digital transformation, what it means for modern SMEs and startups, and how we can help them to digitally transform their businesses.
What Is Digital Transformation?
In one of their recent articles, McKinsey defined ‘digital transformation’ as ‘an effort to enable existing business models by integrating advanced technologies.’ As such, this process is to profoundly change the way you handle and organize business processes, interact with and drive value for your customers, improve their experiences, and, eventually, expand your market share and make money.
According to the PTC survey data cited recently by FinancesOnline, the key benefits for businesses associated with more digitized approaches and models, include:
– Enhanced efficiency of operations with 40% of respondents highlighting it
– Ability to meet the ever-changing client expectations with 35%
– Greater quality of new products and services to the market with 26%
– Chance to cut costs associated with the product development process with 24%
– New streams of revenue revealed with 21%
How can all these advantages become real after a successful digital transformation process? The same respondents identified the following three dimensions that were greatly strengthened by the new tech means:
– First, your employees will be equipped with better tools for smart and intelligent management
– Second, your team can boost their performance owing to the unprecedented availability of data
– Third, you will be better prepared to react and match customer expectations
Market Growth
With all this in mind, it is no surprise that spending on digital transformation is growing. According to Statista, the 2020 spending on this priority was as high as 1.31 trillion dollars. As for 2022, it is expected to reach 1.78.
Beyond any doubt, it was the COVID-19 pandemic that exerted enormous influence on this growth. According to another global survey mentioned by Statista, 68% of respondents do admit that COVID-19 did speed up the digital transformation processes in their organizations. 29% acknowledge that this new global issue “somewhat” contributed to them.
As we all realize right now, COVID-19 is not going to disappear anytime soon. That is to say, digital transformation not only helps businesses and employees worldwide. It is, in effect, the main imperative of our times, making it possible not only to save jobs, but also save lives by making social distancing, remote workplaces, and economic partnerships possible.
Directions: How Evercode Lab Can Help You Know
The good news is that, if you want to digitize your business right now or contemplate launching a 100% digitized business from scratch, the Evercode Lab is in the right position to help you, on time and in a cost-effective fashion.
Let’s take a look at the list of industries most affected by digital transformation. It includes:
– Technology. Here are to build advanced CRM systems for you, absorbing great amounts of data, filtering it by different criteria, ensuring seamless communication, and making it possible to secure outstanding user experiences.
– Energy. Once, the Evercode Lab successfully dealt with developing ‘complex systems to collect, process, and visualize data generated by various monitoring devices’ for a nuclear power plant. Whether you work with oil and gas, atomic energy, or green renewable sources, we would be happy to make your processes as transparent and observable as possible.
– Healthcare. Telemedicine is on the rise. Many people need convenient online access to medical professionals and want to avoid overcrowded facilities when possible. Evercode Lab can build a proper healthcare solution for you so that you can bring doctors and patients together while ensuring the highest level of data safety available.
– Retail and eCommerce. No need to look further. With such projects as the custom-built Foodfox food delivery service (now it is called Yandex.Eats) or the customizable Evermarket marketplace, you can rely on us at any moment.
– Finance. While it is the most challenging and sensitive field, Evercode Lab is ready to build top-class solutions for you. At least, as long as you are focused on cryptocurrencies. Whatever your priorities are, be it cryptocurrency wallets, aggregators of exchanges, payment gateways, our outcomes will exceed your expectations.
Are you willing to undergo a digital transformation in one of these industries? Then we have a lot to discuss! Do not hesitate to contact us!
