The numbers show that 91% of global companies are engaged in some form of digital activities. Mostly, they are dedicated to business growth. Only some enterprises operate exclusively offline. However, digital transformation is still widely discussed within every industry. The reason is that there are still brands that are not doing it properly. This way, they lose many opportunities and can’t reach their maximum potential. We believe that the right software solution can be the key to success. Here’s our take on creating such systems in 2023 and how to approach this subject the right way.
Thriving in tough times
Digital transformation is considered to be the best way to build a fruitful business nowadays. The COVID-19 pandemic sped things up dramatically in that area. Before 2020, we were following the steady stream of technological advancement. However, the lockdowns and restrictions forced us to react fast, rethink strategies, and become available online as soon as possible.
Here are a few facts about digital transformation:
- It’s a lucrative sector. According to research, in 2025 this market will be worth $1009.8 billion with a CAGR of 16.5%.
- It brings money. Gartner determined that 56% of companies that invested in their digital presence experienced revenue growth.
- It’s customer-centric. To quote another source: “(…) most transformation efforts continue to focus on modernizing customer touchpoints (54%) and enabling infrastructure (45%).”
- It requires preparation and clarity. 70% of digital transformations are reported to fail for numerous reasons like employee resistance, poor data analytics, and lack of strategy.
- It reshapes the job market. Due to digital-related activities, employers’ expectations are focused on communication and tech skills, as well as reskilling and upskilling their employees.
Running an online business with awareness can have many positive implications. It’s a chance to improve employee experience with modern tools that boost productivity and performance. It also drives innovation by shifting organizations towards a digital economy. Additionally, it encourages them to implement new technologies essential for their growth. Companies that invest in digital solutions have a chance to level up their infrastructure in terms of security. They save time and money thanks to better resource management. Moreover, they gain a competitive advantage driven not only by market pressure but also the need to meet customer expectations.
The challenges of being digitally present
We’ve discussed the benefits, but digital transformation is definitely not easy. Actually, even if your business already has some kind of online presence, it doesn’t mean you can relax and watch. You should actively improve your operations, customer relations, and the products or services you offer.
We want to discuss a few of the most common challenges for businesses in a digital space. Here’s what you should be aware of:
Lack of a clear strategy or roadmap
A clear plan for how to approach digital transformation or improve your current online activities is a must. Without it, it can be hard to make progress or achieve desired outcomes. The first step towards success is creating a proper strategy. It should then be reviewed and updated every year or even quarter. Understanding your company’s “why” and knowing your customers’ needs will definitely help in that matter.
Resistance to change
Digital transformation often requires significant changes to an organization’s processes and culture, which can be difficult for some employees to accept. That’s why they shouldn’t be thrown in the middle of a revolution, but rather be prepared step-by-step for what’s to come. Reshaping your brand’s work environment should always be justified and explained. Your team has to know they are supported at all times, even if they face difficulties and issues with the new technologies introduced into their professional lives.
Limited budget and resources
Implementing digital solutions can be costly and require dedicated resources, which may not be available to all organizations. Consider your budget and pick options that can help your company boost its game without overwhelming it financially. Analyze the time required to adapt to the new strategy and estimate how many specialists are needed to make it work. Being prepared and cautious is the key when it comes to such crucial decisions.
To fully take advantage of the digital realm, integrating new technologies is a must. However, they can be complex and difficult to understand at first. Finding solutions that will match your company’s requirements is also essential. You will fail if you implement every trending technology without thinking through its impact on your business. Also, remember that tech becomes more and more accessible. For example, AI used to be utilized by large corporations, and now it’s available for small businesses and individuals.
Security and data privacy concerns
Digital transformation often involves collecting and using large amounts of data, which can raise concerns about security and data privacy. Your task here is to find such safety measures and procedures that will minimize all potential risks. Fortunately, there are products and services dedicated to helping companies protect their internal data, as well as external data from their clients and stakeholders. Being digitally present means you need to learn how to use such solutions.
Why building a software solution is the best way to prosper in 2023
You probably wonder what should be your next steps for the upcoming 12 months. No matter if your company is a small business just beginning its journey or an established enterprise offering several apps and systems, you need to re-think your approach in 2023. The world we live in right now is slightly different from five or even two years ago. Maybe your software requires updates, or you need to build something new that will meet the expectations of modern clients. It could also be a perfect time to change industries or the profile of your organization if you consider such decisions.
A remedy to all the mentioned cases is simple:
Developing a new, robust, innovative software solution. Firstly, we rely on technology more than ever. Various industries introduce it to improve work and achieve spectacular results. We want bots, computers, and apps to take care of multiple tasks that are redundant, repetitive, or prone to human errors. This way, we literally gain superpowers. No matter in which area of business you operate, you can build a software solution that will positively influence your company’s process, and also the lives of your clients.
When it comes to running an organization, having a custom software system can lead to operational savings in the long run. You can utilize it internally, but there’s more – it’s a great opportunity to sell such a solution to other enterprises. Digital products can be easily customized and scaled, which beats rigid off-the-shelf options. Working with a team of IT specialists means you can create such software regularly and maintain the existing products.
Not only startups take advantage of that. Every company, even a small retail business, can have its own app or platform. There are loyalty programs, eCommerce sites, gamification apps dedicated to gaining customers’ attention – possibilities are limitless. What we can tell without a doubt is that people love to use their smartphones, tablets, laptops, and other devices. They help them to connect with their peers, find entertainment, work, grow, and take care of everyday chores. Not using that potential means you lose a chance to boost your business and become a market leader.
Finding the right partner to develop a software solution
You probably wonder how to prepare a software solution to achieve your business goals, meet the expectations of your customers, and not spend too much in the process. In our opinion, software development outsourcing is the best possible route you can follow. It helps to save resources while building a high-quality, robust product that is in tune with current trends and best practices. You don’t need to hire a team just to build a system and then let them go. Instead, you get access to a vast pool of talent. You can pick your perfect developers and change the team composition every time the project requires it.
Working with a proper partner means you get business advice, technical support, and maintenance of your ready product. Outsourcing companies have experience in building software, so they know what makes sense and what should be discarded. They also take care of UX/UI design, project management, quality assurance, and other activities that are a part of every software project. If you have an outsourcing partner, your IT needs are always taken care of.
However, you don’t have to be a company without any software team to be able to collaborate with a software house. For example, G-Group.dev also outsources single developers to brands that have staff shortages. In many cases, software projects evolve rapidly, and sometimes the scope drastically changes. That’s when you might need a programmer or two that know technologies your employees are not familiar with. Your outsourcing partner delivers them and takes care of HR matters, so you can get things done.
It’s a perfect way of building software solutions.
Check out our article about outsourcing to find out how you can find the right outsourcing partner. If you’re here, this stage could be over. G-Group.dev is an outsourcing company that can support you on your journey towards building your first (or next) software solution. We will help you navigate through the complex world of tech. Together, we can create a product that will meet your clients’ needs and wants. Reach out to us and let’s discuss your ideas. Our goal is to help companies like yours thrive. Shall we enter 2023 together?