The pandemic heightened the awareness that digital transformation is not only about the future. More companies are realising they need to improve their digital capabilities, turning to areas such as e-commerce, remote working, and cloud accounting to protect their business. However, digital transformation involves radically rethinking of how your business uses technology, people, and processes to change business performance.  

What is Digital Transformation

Digital transformation involves using digital technologies to streamline business processes, improve customer experiences and transform business models. It involves digitisation which is the conversion of data, text, and images into digital format. It also involves digitalisation which is using digital technologies to collect, monitor and analyse data, automate processes, highlight trends, and enhance decision making. As business models emerge and the pace of change is accelerated across many sectors, digital transformation is increasingly important for businesses to remain competitive.  

The Benefits of Digital Transformation

Data Collection & Analysis

Digital tools make it easier for businesses to collect, analyse and monitor data about their business in real-time. Accessing and analysing data enhances decision making for businesses. For example, cloud accounting tools provide real-time insight into business financial health.  

Transparency

Digital transformation allows businesses to streamline workflow processes and consolidates their information. This makes it easier to manage resources, identify opportunities and spot emerging problems allowing businesses to act swiftly. 

Customer Experience

Digital tools enable businesses to achieve a better understanding of customers, allowing them to create personalised experiences. Ensuring your business provides positive customer experiences helps build loyalty and enhance customer acquisition and retention.  

Profitability

Digitalisation can improve the way your business operates, creating efficiencies and strengthening profitability.  

Productivity

Automating manual tasks creates efficiencies and reduces costs. Customers want things done quickly in today’s world. Digital transformation speeds response times and enables staff to focus on valuable tasks.  

Digital Transformation Strategy

Your business’ digital transformation strategy should be defined and driven by your business needs and goals. The key to having a successful digital transformation strategy is embracing change. It can be seen as a long-term investment, with the ability to change your business culture, enhance customer experience and open new revenue streams for your business.  

Gallagher Keane Digital Accounting Services 

Gallagher Keane are cloud accounting experts. Our team of expert professionals can help your business embrace digital transformation. Using cloud accounting will help you digitise your finance experience and embrace digital transformation. For more information please do not hesitate to book a call.