Digital Business Transformation enables new sources of revenue
Industry analyst firm IDC predicts that digital transformation could generate as much as $18 trillion (US) in additional business value for companies worldwide. Research firm Gartner suggests that by 2020, digital commerce will represent over a third (36%) of an average company’s overall revenue.
To do that, and to do it well, companies must rethink the digital tools they use – and how they use them to encourage collaboration and innovation. Industry leaders today are in the unique position of being able to reduce costs and tap into new revenue streams thanks to APIs, self-service, applications and more.
So, where does your Digital Transformation journey begin?
4 steps to developing a digital transformation strategy
1. Connect everything to support tomorrow’s digital world
The Internet of Things (IoT) is coming, and with it, a tsunami of demands on your enterprise network. To prepare, one of the mos
t valuable goals of a digital transformation is to connect people, processes, and things – bo
th inside and outside the enterprise. Set up strong strategic partnerships, and build an ecosystem to support all your users – from suppliers, staff and contractors to your customers and their connected devices. Then, guarantee availability with a network that’s high-capacity, secure and smart.
2. Deploy analytics to automate, understand and save
By mining and analyzing the vast amounts of data already available to your enterprise, you can gain valuable insights about your estate. The strategic initiatives you lead to improve performance, roll out upgrades, and make infrastructure decisions can all be informed by real life, real-time data. All managed from a single dashboard.
3. Roll out new business models
Products no longer come in boxes that you need to store on-site. There are new business models in town: “Freemium” s
oftware and on-demand services such as network as a service, Communications Platforms as a service(CPaaS) or Unified Communicationsas a service (UCaaS).
It’s not surprising: these models are cheaper, more flexible and simpler to manage than traditional systems. Sure, they won’t work for everyone, but there’s no denying the freemium and on-demand business model is gaining traction.
4. Moving towards a single, simple platform
Lots of ecosystems can sit alongside each other and get along just fine. But what if you had a single platform at the foundation of your entire communications infrastructure? This is one of the key goals of digital transformation.
Whether based on-premises or in the cloud, this platform would support communication and collaboration services for your entire enterprise.