The likelihood is that you’ve heard the term digital transformation at some point although the exact context likely depending on your areas of interest and business. However, in general, what do we mean by digital transformation and more specifically, what does it mean for small and medium business (SMBs)?
In its purest form digital transformation can be defined simply as the changes across all areas of human society associated with or caused directly by the application of digital technology.
As with any large technological shift the impact on business and its attitude towards the phenomenon is of course a topic of much analysis, speculation and debate. With the dawn of digital technologies across areas such as social media, mobile, analytics and cloud services introducing huge change to the business landscape, markets and consumer behaviour there is certainly a lot to consider. Its fair to say though that when it comes to SMBs though the general theme associated with digital technology is one of opportunity to achieve efficiency-gains, grow and compete.
Our partners at SAP have recently tackled these exact questions as well with their Thriving in the Digital Economy series published in the Digitalist magazine. This series was designed to focus on the issues surrounding digital transformation that really affect SMBs and were published alongside an accompanying study from IDC which you can download using the form to the left.
Below we provide a run through of the 9 articles from SAP that make up the series and you can link to each of them by clicking on the article titles:
- Why Digital Transformation is not out of Reach for Small Businesses – Find out why the benefits of digital transformation make a real difference to SMBs and how they can be accessed.
- Is the Personal Touch Possible in the Digital Economy? – Most SMBs put client interaction and personal relationships at the centre of their approach to business. Does digital transformation mean this has to be sacrificed?
- The Truth About Data and Digital Transformation Every Small and Midsize Business Should Know – The power of data and what new opportunities for unlocking it could offer your business.
- SMBs: Overcoming the Challenges of Digital Transformation – Just because something offers benefits to your business doesn’t mean there’s no pain associated with achieving it – how can you manage the challenges that adapting to the digital economy brings?
- Region by Region Comparison: Are Small and Midsize Businesses Ready for Digital Transformation – An interesting global snapshot of how businesses around the world are approaching the digital revolution.
- Digital Transformation: A Reality Check for Small and Midsize Businesses – Don’t believe the mainstream media if SMBs are left out of the digital conversation – it does apply to you and here are 6 steps that can put you on the path to digital transformation.
- The Promise of Technology: How Small and Midsize Businesses Adopt it and Transform with it – The double-edged sword of digital adoption – How to make sure the promise of technology becomes a reality.
- Which Comes First for Small and Midsize Enterprises – Digital Enterprises or High-Revenue Growth? – Its a big question for SMBs that want to succeed in this new business world. Does the growth they crave happen because of digital transformation or does the former occur with the latter being a by-product of it?
- The Digital Economy is not Just About the Big Guys – The final article in the series reinforces the fact that digital transformation offers as much, if not more, to SMBs as it does to big business and urges you to start your organisation’s digital journey.
Of course, one of the key considerations any SMB should make when reviewing how digital transformation could affect their business, and how they can best prepare for and take advantage of it, is whether their internal business management systems are ready for the future.
The SAP Business One solutions that dcs specialise in providing are developed by a true global industry leader in business technology and one that always has one eye on the future of work when designing today’s systems. Speak to us about how with the right software you can prepare your business for upcoming change and truly thrive in the new digital economy.