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HubBroker- The Digital Guide: How to Successfully Carry Out Digital Transformation For Your Business

Welcome back to Hubbroker’s Digital Guide. You read in the first part about the whats of digital transformation and that simply integrating new tools into your system is not enough. In the second part, we shared thorough knowledge about the importance of digital transformation and how it can influence your organization. Moving forward to the third and the final part, we will share the necessary ways to successfully implement, install, and enhance your digital transformation strategy. A plethora of organizations have faced turbulence while executing digital transformation. Inadequate communication, improper planning, lack of collaboration, and poor management support are some of the hazards in digitalization. 70% of the companies fail to accomplish their goals in their initiative of a digitalization program. Adapting to the trend requires vision, which a few leaders possess. It does not imply that companies failing to reach their desired outcome quit or disregard the thought of digital transformation. The world is thriving, and your company must adapt to the evolving business trends to maintain its position. The raw talent with a fresh mindset requires up-to-date technology, enhanced digital culture, and a supportive environment to hone their skills. The prosperity of your employees moves parallelly with your company’s growth. With detailed knowledge about digital transformation and its cruciality to your organization, you are just a few steps away from executing your company’s transformation. We have assembled precise guidelines to assist you in preparing and executing the digital transformation program for your organization. This guideline consists of essential groundwork, deployment, and improving your journey to keep up with the trending market. SET CLEAR GOALS Having a clear vision is vital to any development. Regardless of how efficiently one strategizes, companies fail because of blurred vision and unclear goals. Therefore, invest your time in goal setting before investing your resources in executing the transformation. Numerous organizations are confused with the result of digital transformation. The key to achieving long-term goals is to accomplish short-term goals by adding milestones into your goal planning strategy. Completing them drives inspiration for the entire work team, and they work with a progressive mindset to take your organization to new heights. Deploying digital transformation should result in accomplishing business goals rather than technology goals. For example: Working paperless – Technology goal Driving growth in revenue – Business goal Stamp out the manual data entry – Technology goal Improving productivity – Business goal CREATE & MAINTAIN A CUSTOMER-CENTRIC APPROACH Sustaining a customer-centric approach throughout your company is more complicated than it sounds. The back-office employees and your accounts payable (AP) team may not realize their impact on the customer service as they might consider that part outside their responsibilities list. Yet, it creates a significant influence on the customers. The conventional manual data entry and invoice processing techniques are time-consuming, susceptible to errors, and missed or delayed payments. Now, missed payments disrupt your relationships with vendors, and distribution networks experience delays in delivering goods and services. This causes unsatisfactory customer service and also costs the reputation. Any organization can avoid blunders like this by using HubBroker’s automated data capturing and integration solutions instead of tiring manual data entry of invoices. This component of your digital transformation program, and AP’s understanding of the reasons for its deployment, will empower AP to improve the customer journey. Focusing on this aspect of digital transformation while the employees take the responsibility of delivering quality service, whether in back-office or accounts payable teams, will benefit your organization. This is just one example of how automating data integration with HubBroker can give everyone in your workforce valuable customer touchpoints. There are several examples apart from this where your team can provide excellent customer service to grow your company. BE READY FOR CULTURAL CHANGE Corporate culture should be altered to execute the digital transformation program. It is essential to stay connected with the teams and simplify processes for the organization. Your organization, the executives, and the employees must work in harmony without any scope of error and pave towards a successful transition. The transformation goal may necessitate trying different methods and distinct decision-making for the organization’s benefit. The employees must fulfill their duties and work proactively to implement the digital culture in your office. RUN PILOT TESTS It’s vital to ensure that everything is in place from planning to executing and that the whole organization is on the same page about implementing digital transformation. Let’s say you have a dedicated and experienced consulting team, and the tech suppliers are in a position to kick off. But, does everyone in the organization have any idea of what will happen? Have you prepared any analysis? Have you performed any pilot tests for the same? Going on the full-throttle without running any pilot test may cost you your time, money, and resources. Depending on luck while performing the transition leads to failure no matter how flexible, managed, or failure-accepting company you are. As mentioned above, only 30% of the companies transition into digital companies. Without any pilot tests, it’s challenging to carry out such a massive transformation without any undesirable outcome. Performing a brief analysis and practical tests will guarantee your spot in the 30% of companies to establish a digitally transformed organization. It will help your company deploy an unscathed digital transformation program. Furthermore, it gives the companies a hawk-eyed vision to gain benefits, allowing companies to construct a roadmap to modify the process where necessary. You can initiate the experimentation in the back office departments like Accounts Payable. Try installing automated data capturing software for invoice capturing and processing. Analyze the data collected, study the pros and cons, and work towards other departments gradually. ROLL OUT THE TECH GRADUALLY If your company has not taken any precautions regarding the procurement of new technologies, failures are just a step ahead. Acknowledging one’s limitations is a crucial strength for any company or an individual, even when they crave to push themselves for the desired goals. Your company may benefit a little from innovative technologies but hamper others or create a conflict with the culture in your workplace. As the pilot tests are completed, modify the adjustments and implement them to eliminate the hurdles. Later, incorporate the technology and tools and measure, record, and progress your journey to the destination of a digitally transformed company. GET DIGITALIZED WITH HUBBROKER Hubbroker eradicates the need for manual data entry, providing quick data extraction from documents that is cost-effective. Its capacity to scan, capture, process data with high precision is an excellent place to kickstart your digital transformation program. As discussed in the first part of our trilogy, automated document processing helps establish the four classes of digital transformation. For instance, in business process transformation, automated processing increases the output of the work, decreases the company’s expenses, and saves the employees from the laborious work of manually entering the information. Testing and learning philosophy of cultural transformation plays a vital role in cultural transformation and provides the staff with the required time and resources to shift their focus on reshaping the company’s business structure and domain. Integrating digital transformation with HubBroker is an excellent first step towards developing business practices that value long-term sustainability as a critical metric for success. Connect with us today, and let us help make your business structured, productive, and cost-efficient.