Digital Transformation – Enabler of Greater Efficiency & Enhanced Innovation

Digital Transformation – Enabler of Greater Efficiency & Enhanced Innovation

30 Mar 2021 | Team Wavelabs

Upgrade and optimize your business strategy with digital transformation initiatives

What is Digital Transformation?

A solution to business crisis – Digital Transformation is now a fundamental strategy for any business model. It is the process of using digital technologies to create new — or modify existing — business processes and customer experiences to meet changing market requirements.

A digitally transformed business integrates technology in all areas of a business. This is to gain a competitive advantage, improving customer experience, steer business growth and fundamentally changing how you operate and deliver value to customers.

With the market set to grow at 22% by 2023, the spending on the technologies and services that enable digital transformation worldwide is expected to amount to $2.3 trillion.

89% of organizations have plans to adopt a digital-first business strategy and 42% of CEOs have begun digital business transformation.

What are the benefits?

The benefits are imminent. Digital Transformation helps businesses to communicate, collaborate, and deliver services more efficiently and effectively. Businesses can keep up with changes in the market and deliver higher customer satisfaction along with an increase in profitability.

Digital Transformation helps employees by automating the tasks that required manual processes and were time-consuming. This helps people to focus on a wide range of opportunities and other important tasks. The use of digital technologies like AI, cloud computing, big data, automation will help business leaders to make better and faster decisions that result in progression.

How Wavelabs can help digitally transform your business?

The role of digital technology is rapidly shifting, from being a driver of marginal efficiency to an enabler of fundamental innovation and disruption. With capitalizing on the value of big data, we have a unique chance to shape the future.

At Wavelabs, we align key technology investment pillars to design a digital architecture that fits your business. By turning big data into smart data, we help businesses achieve higher levels of operational efficiency and innovation.

We built a predictive ML model for one of our clients that has made it possible to analyze historical and live data from various customer touch-points. This helped in enhancing the marketing ROI and optimize digital spend.

Digitalization is the cause of large-scale transformations across multiple aspects of business, providing unparalleled opportunities for value creation and capture. A key strategic initiative, digital transformation has taken on heightened importance in the wake of the coronavirus pandemic. The digital economy is creating an ever-greater demand for machines and humans to work together effectively.

With companies invested in customer service optimization, AI Chatbots are delivering higher customer engagement and brand recall value. We built an intelligent automation solution for a client, bringing down their average resolution time by 21%. It helped save time, expand on capabilities and even unlock new lead generation channels.

Conclusion:

The pandemic has changed the trajectory of digital transformation. The new priorities of most organizations will be technology investments that drive the list of digital transformation strategies.  Hopefully 2021 is the year with better health and stability. Either way, digital transformation will continue to be the focus of organizations around the globe.