Look around you right now. If you're in a public place, count how many people are on some sort of electronic device. If you're reading this from your cell phone, tablet or laptop, well, you prove my point. We are in an era dominated by mobile devices, cloud computing, smart analytics and the Internet of Things and, because of this, digitizing processes and procedures is becoming increasingly important in the workplace. Yes, beyond just streaming Netflix from your phone. Society has gone digital, and the rise of digital technology has caused a dramatic shift in how businesses need to understand the benefits of new and emerging technologies in order to meet the changing needs of today’s consumers.
This all falls under the trendy new term "digital disruption." You've seen it all over Twitter and likely in at least half a dozen "tech trend" articles. What is it? Simply put, digital disruption provides an opportunity for businesses to look at how they are using technology, and how they can use it differently to enhance their business practices, demonstrate the value of the products or services they are providing and create new, innovative business models. So, if you're reading this and wondering, "what are the benefits of digital disruption for my company?" we have some answers for you. Pull up your favorite digital device and read on!
Creating and demonstrating value: For those who do not ignore the transformation that is taking place in their industry, embracing new technology helps companies create and demonstrate value to their consumers. In fact, companies that are committed to old business models are more often being pushed out of business by younger, more agile and more tech-savvy companies. These can be company giants (think Amazon), or even smaller, emerging companies that are simply using technology better than larger companies that have been ignoring the digital disruption taking place in their industry. Additionally, companies that utilize new technology often see a higher ROI than companies that invest in their old, legacy systems.
Reduced costs: We know that price tag on the technology you're considering is hefty and a little off-putting, but believe it or not the cost benefits often outweigh the initial price tag. Why? Because new, streamlined technology allows companies to function more efficiently, thus saving time, money and resources. A company that is continuing to advance also can keep costs lower for consumers, as strategically implemented technology allows companies to reduce operational costs.
Better data utilization: Embracing digital disruption also allows companies to do more with the information that's streaming into their organization that couldn't be utilized with legacy systems. Whether it’s structured or unstructured data automated systems, such as a document management solution, help companies use the information overload in a more positive, beneficial and strategic way to make more data-driven business decisions.
How is your company being disruptive and making a dramatic difference in the ways that it manages data and meets the needs of consumers? Do you feel you're being disruptive enough in today's changing technological landscape?