With the advent of technology, the way of doing business has changed a lot as compared to a decade ago. The COVID-19 pandemic, which gained momentum in 2020, accelerated the implementation and adoption of digital technologies around the world. As a result, today, physical offices are no longer the dedicated workplace and have been replaced by the cloud. While many large enterprises have been a pioneer and early adopters of technology, the current situation has compelled even SMEs to change their business dynamics to survive and thrive.
SMEs Need to Re-think Their Business Priorities
In our new fragmented environment, traditional methods of working such as going to the office, sitting with fellow team members and brainstorming solutions, or working in defined cubicles have become obsolete. What started as a temporary solution to combat the travel and contact restrictions has become the new normal. Remote working has become so popular and successful that several startups are now able to kickstart their operations without having an actual office space of their own. Employees can work from the comfort of their homes and still stay connected to their colleagues whenever necessary.
This has forced SMEs to re-think their business priorities. Providing a working product or service to the customer is not the only end goal that companies have to think about. Enhancing the workplace experience so that the employees feel engaged, motivated, and supported to complete their tasks has also become a top priority now. Digitization doesn’t just mean buying and implementing the latest equipment. Companies need to adopt a digital-first approach as well. A survey done by McKinsey found that the organizations that were successful in dealing with the pandemic had done so through a variety of tech-related capabilities for different business aspects.
Enhanced Employee Engagement to Boost Productivity
An employee that is motivated towards working for a company and helping it achieve its objectives is hard to find. This is the reason why many human resources professionals try to find newer ways such as incentives, perks, and bonuses to keep an employee motivated
towards the result. In the ongoing connected worker ecosystem, however, keeping employee engagement is also an important aspect of the business.
Around 68% of executives think that Artificial Intelligence (AI) and humans are important for each other and the growth of a company. Adopting a digital-first system means providing online resources to keep your employees engaged and motivated. This could be anything from virtual training to digital workflows to AR-enabled headsets that can teach an employee to fix a device in real-time.
Technology Adoption in the Workplace to Improve Employee Experience
One of the biggest reasons for SMEs to embrace digitalization is to ensure that their business keeps on moving ahead despite the pandemic and changes in working dynamics. These digital tools not only allow them to work from their homes but also provide other benefits such as enhanced cyber security, an agile workforce, ability to upskill employees remotely and hire talent from across the world.
While the pandemic increased the speed at which digital transformation occurred in different companies, a number of them were already embracing these modern tools and technologies to stay competitive in the market. Remote working has become the new normal and digitalization helps companies in managing and working with a global
workforce. Keeping them motivated, closing the skills gaps, ensuring their safety and resolving any challenges they are facing become the top priority for companies.
Toyota’s Ask HR app is a great example of this digitalization. Through this app, nearly 45,000 employees working in North America can ask any HR-related questions and get answers to them wherever they are.
Digitally Transform the Business Model
Just adopting new technologies in your line of work doesn’t mean digitalization. A digital-first mentality needs to be inculcated in the entire company culture as well. Organizations can achieve several benefits by digitally transforming their business model to focus more on cloud-based processes rather than traditional paper-based ones.
Data capture, storage, and analysis can also be automated through digitalization that not only takes very less time but is highly accurate as well. The global digital transformation market is expected to reach the $1 trillion mark by 2025 given the dependence of people on new technology as well as their social media consumption. More than 55% of startups have already adopted digital transformation as of 2018.
A digital-first business model brings employees together, asks for detailed feedback from everyone involved, determines the severity of a task and then improves upon the process for achieving the best results.
Agilisium is an advanced AWS data and analytics consulting partner that can help you in consulting, designing, developing, and implementing AWS cloud data projects so that you can achieve digital transformation efficiently and embrace a digital-first business model
The lack of a single source of truth, quality data and ad hoc manual reporting processes undermined top management’s visibility of integrated insights on sales, sales rep interactions, marketing reach, brand performance, market share, and territory management. Understandably, the client wanted to align information that has hitherto been in silos, to gain a 360-degree product movement view, to optimize sales planning and gain competitive edge.