Nowadays, digital transformation has become an inevitable activity in almost all business environments since companies that prioritize digitalization and fully dedicate themselves to it are more competitive than those without a strategic digital orientation.
And even though many companies already recognize the advantages that digital transformation brings, some still close their eyes to the truth and risk that the competition will soon leave them behind.
Why are some companies delaying digitalization and digital transformation?
The research State and trends of digital transformation in Slovenia, which studied 191 Slovenian companies, showed that Slovenian companies are generally less digitally mature than companies around the world. Among the most common obstacles to the introduction of digitalization are:
- not recognizing the benefits of digitalization and the opportunities that digitalization opens
- lack of knowledge in the field of digital transformation of business
- lack of understanding and lack of interest among employees in the implementation of digitalization and digital transformation
- dislike of company culture
- lack of adequate personnel
What do the numbers say?
Many domestic and foreign studies (for example McKinsey, ZIPPIA, ClickZ and others) find that the benefits of digital transformation for the company are enormous - both for the company's management and for employees and customers.
The key advantages that digitalization and digital transformation bring to the company's operations include increasing the efficiency of business processes, faster adaptation to changes, and improving the quality of products and services. In addition, companies that have implemented digital transformation are 64% more likely to achieve their business goals compared to competitors that have not yet given digitalization a chance. As much as half of the directors also perceive that their digital strategies have increased the company's profit, in some cases the revenue growth was up to 40% higher. Digitally mature companies are said to be even 25% more profitable than digitally less mature companies.
In addition to greater business efficiency, digital transformation also has an impact on employee productivity.
More than 80% of employees report that working with digital content has increased their productivity by approximately 30%, and their efficiency in completing daily tasks by as much as 50%.
The use of digital content and tools also significantly contributes to the improvement of the organizational culture in the company, as they enable easier teamwork and better cooperation between all employees.
One of the studies showed that in 35% of companies, the most common obstacle to digital transformation is the lack of interest of management (directors) in changes. In those companies where the director believes in the success of the digital transformation, it is 1.6x more likely that the digital transformation will also be successful.
How to proceed?
Investments in digital technology are projected to increase every year. As many as 70% of companies have already developed or are in the process of developing a digital transformation strategy. Thus, it is only a matter of time before companies that have not embraced digitalization will fall behind and risk becoming irrelevant in the marketplace.
