Why are Companies with "Digital Maturity" 26% More Profitable?
With such a strong emphasis on the role of technology in today’s business environment, most decision-makers have become desensitized to the truly transformative effects that these advancements can have on daily operations.
Between off-premise cloud databases that store endless streams of information, high-speed networks that instantly transport voice and video data across the world and analytics systems that have an almost prescient ability to reveal consumer trends and behavior patterns, it is easy to take for granted the incredible technological leaps that have been made even in the past decade.
High-tech business units become more of a necessity each year, however – A recent Information Age article revealed the importance of digital maturity in today’s world.
“The Digirati significantly invest in the ‘how’ of digital transformation,” an MIT study entitled “The Digital Advantage” recently found, according to Information Age. “They build and share a digital vision, engage the workforce at scale in understanding the vision, implement proper digital governance structures to ensure ownership and accountability of the transformation, invest in a competence upgrade and build strong relationships between the business and IT/technology functions.”
An eye for tech pays off
The study revealed that companies with a forward-thinking mindset toward tech were on average 26 percent more profitable, valued 12 percent higher and generated nine percent more revenue than firms which did not actively leverage new tech solutions on a regular basis.
While it may seem impossible to stay in the loop on every minor innovation made in the world of IT, there is simply no substitute for an up-to-date infrastructure in an era that requires businesses to seek every minute advantage possible.
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Even the smallest enhancement in network efficiency or database uptime can have a major impact on the success a company can achieve, and the consumerization of enterprise tech has made it easier to quickly implement new systems and software packages on the fly. But since so many organizations make a point of staying on the cutting edge, it can be a daunting task for a business to differentiate itself with a distinct set of solutions.
Customer service technology leaves a mark
Although it may feel futile for many decision-makers to continue pushing the limits of their infrastructure when new advancements appear at such a frequent clip, the alignment of tech resources with regard to e-commerce support is one area in which businesses can craft a unique approach. These strategies can make a tangible impact on their service and enhance customer satisfaction. Still, the implementation of these tools must be planned strategically.
A recent InformationWeek article explained the pitfalls of a “bolt-on” approach to applications in a world that expects total immersion in the brand experience.
According to the source, digital solutions are most effective when they work organically with the pre-existing framework of a company’s IT blueprint, not when they’re added as isolated fixes to larger, more systemic problems. Decision-makers have a golden opportunity to distinguish their brands with customer service toolsand must treat these systems as core components of their strategies at large.
Since most of today’s enterprise IT solutions operate behind the scenes, any customer-facing innovations are not only impressive in the eyes of consumers who want to feel like their preferred brands are on the cutting-edge, but also give service representatives the tool sets they need to reach resolutions in an efficient timeframe. This is why firms need to integrate their live help technology into the infrastructure they use on a regular basis, as InformationWeek suggested.
Customer service technology can set brands apart, but these solutions must worked into the bigger picture rather tacked on haphazardly.
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This article originally appeared on the LiveLOOK blog, and is reprinted with permission.