5 reasons not to be left behind in digital innovation
Digital innovation faces a lot of resistance in many organizations. Changing habits is difficult, switching everything seems confusing and unnecessary, and some argue that all this money should go somewhere more important.
Many organizations are struggling to keep up with digital innovation. Efforts to keep pace have increased in the wake of Covid-19. According to a business impact survey by IDG Research, 59% of IT decision makers said they have accelerated digital transformation efforts due to pressures from the pandemic. .
As a manager, you can no longer treat IT as a fringe. Software is fueling digital innovation in many products, services and processes. If you want to survive this digital disruption, you must align your organization with its digital future. This is not a one-time task or a one-off. In this article, we will learn about five ways in which you can enable your business to keep pace with digital innovation.
Why should you care about digital innovation?
Digital innovation refers to the process of introducing and adopting new digital technologies to solve existing business problems as well as to enhance and improve organizational practices. You may have also come across the term digital transformation; This indicates a comprehensive change in your organization.
So, in short, if you take one business problem and use digital technology to solve it, you introduce digital innovation into your organization, and this is often the beginning of a long, strategic digital transformation journey.
Your customers will not get the best service
No matter your role in your organization, your number one goal should be to provide the best possible service to your customers. It's what keeps people happy and coming back to spend more money, and ultimately it's what allows your doors to stay open.
In this fast-paced modern world, what keeps your customers happy is your organization going digital. They want e-invoices, fast responses, inexpensive services, and the ability to access their records on the go. All of this can be provided to them once your organization transitions to digital document storage and management.
You risk a costly regulatory audit
Digital innovation isn't just about providing fast service to your customers, it also protects your company from costly and potentially catastrophic events. Allowing sensitive documents, such as medical information, to be seen by the wrong eye is a major violation of HIPAA compliance and other regulatory practices. Adhering to processes Paperwork increases the likelihood of this happening.
If your company is subject to a random audit by a regulatory body, easy access to all your records will make the process as quick and painless as possible, and you'll be ready to return to daily operations in no time.
Your employees waste time and money on inefficient document management
Do you know how much time your employees spend manually writing paper documents, saving them, and then retrieving them when they are needed again? That's a lot of wasted time – time that you're paying them to make the mundane parts of their jobs go by faster by going digital, and you're paying them to be influencers instead.
You'll save money as your employees become more efficient, and these savings can be passed on to your customers in the form of lower prices.
You won't be able to hire the best
Ineffective use of your employees' time is more than just wasting money. Paying people to inadvertently submit papers will not attract or retain the best people in your field for very long. Fresh grads fresh out of college and those who have worked their way up in your field want to work In a place characterized by technological intelligence and forward-thinking and contemporary thinking.
A large portion of the workforce is accustomed to technology in every aspect of their lives. If they have to work using outdated and inefficient processes in your organization, they will move to a competitor that does not waste their talent.
You will fall behind competitors who do not rely on paper-based processes
Your employees won't be the only ones leaving to go to a competitor if you're too old-fashioned, your customers will be too! Inefficient paper processes mean slower services and more expensive bills for your customers, this is not something that will keep you in business for very long.
But this doesn't have to happen to you. Take the recent example of Toshiba Business Solutions. They have applied document management best practices to manage sales orders from creation to payment. They have been able to develop a seamless workflow that has not only improved cash flow by $4 million per month and saved... Not only did it generate $1.25 million annually, but it also simplified information management and access while enabling the development of real-time business metrics, and it's clear that savings and streamlined processes like this have helped keep it at the top of the highly competitive technology industry.
If a huge company like Toshiba Business Solutions can seamlessly integrate digital innovation, you can do it too. Digital document software is easy to use at all levels, and can really help your organization stay current, competitive and profitable. A positive return on investment can be reached sooner. Much more than you might think too, often in less than 12 months, so going digital will pay off quickly.
DocuSuite encourages digital innovation by providing an electronic document management environment, facilitating efficient search, access, and control of information. This allows organizations to solve problems more effectively and improve organizational practices, which enhances the overall digital transformation of companies, as it helps to:
Improve efficiency
DocuSuite provides a digital environment that facilitates effective document management, reducing the time and effort spent searching and accessing information.
Solve problems effectively
Thanks to digital innovation, organizations can solve problems more effectively, as the system organizes data and facilitates the retrieval of vital information.
Strengthening internal organization
DocuSuite contributes to enhancing the internal organization of an organization by providing a structure for storing documents in an organized and convenient way.
Better interaction with customers
By improving efficiency and saving time, companies can improve their interaction with customers and provide better and faster services.
Achieving competitive advantage
By adopting a system that encourages digital innovation, organizations can achieve competitive differentiation in a technologically accelerating business market.
Improve productivity
By making digital information easier to handle, DocuSuite increases productivity and reduces administrative burden.
Providing advanced technical features
Advanced technologies such as artificial intelligence and data analysis can be used in the DocuSuite system to improve performance and make smarter decisions.
Facilitating digital transformation
DocuSuite is a gateway to facilitating enterprise digital transformation, providing a foundation for the adoption of new and advanced digital technologies.
Digital innovation versus digital transformation
In the dynamic field of the digital age, two terms often dominate discussions: digital innovation and digital transformation. Despite their clear similarities, these concepts possess distinct and interconnected characteristics that hold the potential to revolutionize businesses and industries. Let us explore the difference between digital innovation and digital transformation. To uncover the nuances between them and explore how they are intertwined.
Digital innovation is about adopting new technologies and pioneering ideas to drive progress. It leverages emerging tools such as artificial intelligence, data analytics, cloud computing, and the Internet of Things to revolutionize existing processes, products, or services. Digital innovation thrives through disruption and seeks to create new experiences. , disrupting traditional models to uncover new opportunities.
On the other hand, digital transformation includes a broader and more comprehensive approach than digital innovation, and it involves integrating digital technologies into all aspects of the organization, leading to significant and comprehensive change. Digital transformation goes beyond individual innovations, and aims to redefine the organization’s processes, culture, and customer interactions. It is It involves a shift in mindset, reimagining business models and strategies to succeed in the digital age.
While digital innovation drives specific improvements and advances, digital transformation aims for broader overhaul. Think of digital innovation as the fuel that drives the engine of digital transformation. Digital innovation acts as a catalyst, igniting the change required to achieve a complete transformation.
So, whether you aim to harness the power of digital innovation or embark on a comprehensive digital transformation journey, remember that embracing change is key, seize the opportunities presented by emerging technologies, foster a culture of digital innovation, and continually evolve to stay on the front lines of the digital revolution.