Driving business impact with technology

September 1, 2022 | 5 Mins David Daly

Digital transformation officers are becoming more commonplace at multinational companies around the world today. We have emerged from a global pandemic and the business landscape and overall economy has changed after a very turbulent couple of years.

One result of this, is the reprioritizing and often supercharging of digital transformation projects which were previously talked about but never taken seriously enough to initiate with an action plan.

The pandemic means digital connections and digital technology have become more important than ever to the business world and business operations, for this reason skilled digital transformation officers are being approached by major companies to examine business critical departments and services in an effort to see how digital transformation via new technologies can drive positive business impact.

In this article, we will take a look at a few ways that technology can drive this impact and why new technologies are being considered so much, especially in departments which had up until today relied on legacy technology.

Decide on the IT focus

What should the focus of the IT department be? It is a good question to start things off before you rush in and buy a new technology and employ a digital transformation officer in the hope of some radical transformation. It might be best to take a step back and ask this question to ensure that everyone who is in the IT department will be on the same page and have the same goals when it comes to implementing new technology or undergoing a digital transformation project.

Is your information technology infrastructure simply about keeping the lights on, keeping all operational processes up and running and keeping data secure, or does it have more of a business strategy role to play in the organization?

A digital transformation officer can come to the table with a lot of ideas about what the answer to this question should be and this person can look back on their experience at previous similar organizations to bring ideas that can meet your goals and business needs.

One of the answers you will likely hear is that it is there to optimize operations and leverage technology to help the company create the best new products and services that it wants to bring to the global market. It is essentially part of the reason why they are able to carve out revenue share and be successful.

But there could be a decision made within the business to focus purely on innovation and have this be a new focus of the IT department. This is a change in attitude, view, and culture. While it may take time to implement, it can turn out to be a strategically rewarding decision. It will also heavily influence the new technology investment decisions you make at the organization as they will all be tied to the overall concept of innovation.

Keep in mind the customer experience

Digital transformation can benefit the internal organization in many ways and also increase productivity and creativity among employees, as well as enhance the employee experience. This might have a knock-on effect and a subsequent result that is beneficial to customers in terms of innovative products and services that they respond to with enthusiasm.

But it is likely that an organization can achieve far more if they have considered the customer experience right from the start of any digital transformation project. This could be a simple case of asking how new technologies will help our customers, and what a digital transformation project inside our organization will mean for our existing customers and those prospects that we wish to convert into new customers.

Are we actually creating anything that will benefit them or is this purely an internal process that is really all about us? If the customer experience is centric to the digital transformation, then the results of any project should have something in it for them, the external end users, and your valued customers.

Without considering this in the transformation project, then it could result in a loss of time and expense, if it turns out that this project isn’t going to have any real significance or benefits for the customers. Whereas, if the implications are considered for the customers and the new technology or new digital tools that are going to come into effect has been researched and proven to be a benefit to customers, then this could make all the difference when it comes to having a successful digital transformation and new technology implementation.

If the customer user experience is a priority, then this could help boost the company image as one that is technologically advanced and one that cares about the experience of its customer base.

What technologies do you want to leverage?

This may be an obvious question, yet it is still a crucial one. The reality is that there are a lot of choices out there today, bundles of new technology stacks crop up all the time, investment in business-critical service technology is everywhere. The recent explosion in human resource technology is just one example of this and it is clear that traditional services, like global payroll, are undergoing significant changes in terms of new technologies and innovations to enhance these business processes.

Artificial intelligence, machine learning and robotic process automations are obvious contenders for leveraging due to their massive potential when it comes to productivity increases, accuracy boosts and timesaving. Blockchain and mobile-first applications are also popular choices for companies looking to do something a little different and try to get ahead of the competition.

The answer will be determined between the balance you seek to achieve by optimizing your internal processes, improving your internal technology infrastructure, and creating products and services that will appeal to mass market customers for optimized revenue.

If the new technologies fit with your vision and new work culture and they have the required capabilities to deliver on your digital transformation strategy and goals both internally and externally, then a positive investment can be made with a clear plan attached to it. A digital transformation officer can then come in and execute this plan, which will hopefully produce the positive results you seek.

The digital transformation officer can outline and define a strategic road map which will showcase how the digital transformation will be delivered, how long it will take, which new innovative technologies will replace legacy tech and what the expected results of this can be.

 

Technology can help organizations drive a positive business impact. By considering the few factors that were discussed in this article, such as being on the same page within the company when it comes to deciding the IT focus, making sure to consider how a digital transformation will impact the customer experience and thinking about exactly what technologies you want to leverage, then you will be on the right track to leverage technology to drive business impact.

 

 

For more information about our Global Payroll Control Platform contact us today.

 

 

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