How going digital streamlines workflows

In just about every industry, business leaders are searching for ways to increase revenue. The trick is doing it without a corresponding leap in spending or hiring. Many are coming to the same conclusion: The best path forward is digital transformation. You’re probably familiar with phrases like “going digital” or “moving to the cloud,” but what is digital transformation? By answering that question, you’ll be on your way to a more agile and profitable business model.

Find the best next steps for your company in Digital Transformation: A Guide for Modern Businesses.

What is digital transformation?

McKinsey’s digital transformation definition is “the rewiring of an organization, with the goal of creating value by continuously deploying tech at scale.” Let’s break that down into simpler terms. The true digital transformation meaning refers to replacing analog processes with digital ones. Essentially, you’re using technology to streamline workflows and cut down on tedious manual work.

Of course, saying it is one thing. Doing it is another. Before embarking on your digital transformation, you’ll need to get familiar with two key terms:

• Digitization: Digitization refers to the conversion of analog data into digital data. If you’ve ever scanned a physical piece of paper to your computer, you’ve digitized a document. If you converted your old family videos on physical tapes to .mp4 or .mov files, that’s another example of digitization.
• Digitalization: It sounds similar, but digitalization has a different meaning. It refers to the process of transforming analog processes into digital ones. Switching from a paper sign-in sheet to an online calendar would be one example of how you might digitalize a process. Digitization is just one part of digitalization. Others include choosing the technology you’ll use to facilitate the digital transformation, defining these new processes, and choosing which employees will execute it.

Here’s how it all works in practice. First, companies digitize the data that currently only exists in analog form. Next, it’s time to organize that information. That can be time-consuming to do manually, which is where you should leverage technology that automates the process. Once your information is digitized and new workflows are in effect, you’ve achieved a digital transformation and your company has embraced its digital future.

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Benefits of digital transformation

You might be asking yourself if digital transformation is worth the effort. After all, it’s not easy to incorporate new technology into long-established workflows and transform processes across the business. However, the benefits far outweigh the initial costs and time investment:

• Increased revenue: The business case for digital transformation is strong. The time you’ll save by eliminating tedious manual processes and making data more readily accessible translates to a reduction in hiring and overhead costs. You’ll be able to do more with less and be better poised to take on new clients and challenges.
• Improved workplace culture: Employees generally appreciate when they can focus on work that really matters. Removing the more tedious parts of their day-to-day work can result in higher employee satisfaction and a happier work environment.
• Better customer experiences: When you can respond to customer requests more quickly, that helps build loyalty. Loyalty equals lucrative, long-lasting relationships.
• More accurate insights: With the right technology, you can do more than just digitize key company information; you can use AI and machine learning applications to unearth actionable insights. That way, you’ll be able to identify even more ways to improve productivity and reduce costs.

Many industries are already reaping the benefits of digital transformation. In healthcare, the switch to electronic health records has streamlined the patient intake process and made it easier for medical professionals to collaborate on diagnoses. Online banking, mobile apps, and digital wallets have transformed the financial field. Manufacturers leverage automation to speed up assembly lines. The possibilities of digital transformation are vast and still being explored.

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Taking the first steps toward digital transformation

Don’t feel like you need to transform your entire company overnight. Digital transformation takes time, so break it down into steps. First, determine what assets need to be digitized. From there, secure the hardware and software you need to make that happen.

In many industries, you’ll likely have physical files that need to be scanned and uploaded into a company database. Look for heavy-duty scanners designed with digitization in mind. They should be fast, accurate, and easy to use. For example, the RICOH fi-8170 offers double-sided scanning at 70 pages a minute, which can significantly speed up the digitization process.

You don’t need to go through this process alone. The right technology partner can streamline your journey to digital transformation and make it less daunting. For a comprehensive roadmap and best practices, download our free ebook, The New Path: Digital Transformation Roadmap for Modern Businesses. If you want to learn more about how Ricoh enables modern businesses to reimagine their processes to remain competitive in a digital world, get in touch.

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