71% of C-Suite executives anticipate that digital initiatives will increase their top line revenues over the next 36 months according to a new digital trends survey. While expectations are high, many continue to experience significant gaps from where they are, to cracking the vault the digital world has to offer. How can more executives lead their organizations to tech savvy success?
The Digital Dilemma
New McKinsey & Company Global Survey data reveals great aspirations for more digital savvy organizations. Yet, whether it is workflow automation, engaging consumers online or digitizing documents, many still face challenges to reaping the rewards.
Even some very well established firms are having a difficult time adopting and integrating the vital digital components and business processes they know they need to continue to survive and thrive. At the same time, it is clear every organization benefits from strong digital DNA today.
In addition to top-line revenue enhancement, there are many benefits of going digital. Insights from the McKinsey survey reveal the expectations of executives for the next 3 years:
- 64% believe digital will increase profit margins
- 56% anticipate higher returns on capital invested
- 32% expect digital to lift average sales prices
The Challenges to Digital Evolution
Getting the CEO on board used to be one of the most significant challenges to keeping up with the times. McKinsey & Company reports great progress in this area with almost double the number of “CEOs personally sponsoring digital initiatives,” followed by CIOs.
The top 3 drivers behind the desire to go digital are:
- Digital engagement of customers
- Digital innovation
- Workflow automation
3 of the top challenges to digital implementation as we roll into 2016 remain:
- Technology infrastructure
- Lack of dedicated funding for digital progress
How can businesses and organizations more effectively, efficiently and affordably go digital and reap the rewards?
Quick Tips for Winning in Our New Digital World
High-performing companies win by:
- Embracing digital experimentation
- Focusing on gaining traction through small wins and milestones
- Moving fast
- Leveraging digital solutions partners
4 Advantages of Bringing in a Digital Solutions Partner
1. Solving the Need for Tech Savvy Talent
Document management service providers, like Digiscribe, help businesses overcome labor shortages, and the need for increased HR costs by delivering tailored solutions that meet their clients’ needs. They become a partner to your team bringing expertise, resources and proven solutions to your digital needs including document scanning, workflow automation and cloud document management software.
2. Easy Implementation
Easy to implement and easy to use, digital document management solutions eliminate expensive trial and error in recreating the wheel in house, while speeding businesses to the rewards of going digital. This allows faster traction and a positive digital snowball effect.
3. Affordable Cloud-Based Solutions
Cloud-based digital solutions eliminate the need for large capital investments, or having substantial in-house IT infrastructure.
4. Enhancing Customer Engagement
Increased speed and accuracy from digitizing documents and workflow processes can create quick and noticeable enhancements to customer service and engagement. These quick wins can be used to fuel more traction, and engagement in further digital initiatives and milestones.