It’s good news that more and more larger businesses across the UK are embracing Digital Transformation, however small and medium-sized enterprises (SMEs) could often do more to face up to the challenge of digital transformation. As well as new technologies, they also have to address key aspects involving people, data and processes. This week’s blog provides a handy rapid-fire list of what we believe are the top ten golden rules SMEs need to follow in their business strategies to adapt to the changing digital landscape.
So if your business is an SME, read on!
Design your business strategy around digital transformation from the get-go. From day one of incorporating it into your strategy, have digital transformation at the forefront of everything you do. It’s the only way to really succeed.
Any transformation, digital or not, starts with people. Transformation is best led by a senior figure experienced in change management. Try and switch your mindset from the concept of “employer” to that of “entrepreneur”.
To really transform your offer, you need to harness the technology available in the cloud, as used in the market for process automation. If you’re not using cloud services’ full potential, start making this a priority.
If you are serious about transforming your offer you should also be planning and beginning to transform demand.
In addressing the new strategy and digital transformation you need to decide early on who is most suitable person in your business to manage the process on a long-term basis. Build a team around this person’s skill set.
It’s true to say data is the ‘coal’ of the fourth industrial revolution. Use data to form the bedrock of your strategic and operational decisions. You’ll find this makes the transformation easier in the long-run.
Data changes your relationship with your customers who have never had so much power or knowledge. Make the most of your data to expand your knowledge of your customers. It’s a win/win for you and your customers.
Understand what new technologies can contribute to digital transformation and explore new business models. In other words, do your research. If you were founding the SME today how would you go about it?
We all know, the world and society are changing at an unprecedented rate, particularly in the digital space. SMEs will need to introduce aspects of start-up culture in order to recruit and retain talent. It’s time for fresh thinking.
To compete with new markets and GAFA (Google, Amazon, Facebook and Apple) it is vital to interact and collaborate through ecosystems. Follow these rules and you’ll be well on your way to ushering in digital transformation into the very fibre of your IT infrastructure.
We hope these 10 Golden Rules will help you think about what you can do to bring about Digital Transformation in your business. If you would like to speak with a Digital Transformation expert that understands how it could benefit your business then please get in touch via the button below, contact sales team on