continuously changing market communication of all the get used to digital adoption, situations. business departments which is quite crucial. It’s especially necessary for the IT Importance of Digital Benefits of Digital industry since it helps stay up to Transformation Framework Transformation Framework date with the issues regarding Digital transformation massive data does, cloud frameworks play a crucial role for Digital Transformation works computing, and diverse businesses to evolve. It offers a wonders for businesses. They endpoints. strategy and roadmap that helps come with several benefits for businesses to survive, adapt to, better business function in this Reusable and enhance in the changing digital era. Some of the The best part is that these digital market demands and trends. It significant benefits of such transformation frameworks are helps them to survive the frameworks include: reusable. It means that disruptions due to such market businesses won’t have to develop changes. Such disruptions mean Client’s Desires new formulas for each increasing external developments Clients are in love with technological transformation leading to changes in the technological advancements and phase. They won’t have to spend business ways. For instance, the would want their favorite more time, put effort, and come Covid-19 period made people businesses to be digitally up with new formulas. Instead, adapt to digitization, changing evolved. The digital they only need to refer to their how the world functions. That’s transformation framework helps existing framework and continue why businesses are face-to-face companies be digitally evolved to with it. It fits with everything, and with disruptions and fu=inding adapt to the latest tech features one can also incorporate ways to digital transformation for and attract more customers. innovative ideas into it to success. enhance its results. Competitive Business Simply putting it, businesses can Advantage How Can Businesses Create an protect themselves from digital Compared to businesses without Ideal Digital Transformation disruption through digital any digital transformation Framework? transformation frameworks. measures, businesses with digital For any business, the ideal digital transformation frameworks are at transformation framework is the What Does a Good Digital more advantage of having a one that incorporates a balance Transformation Framework do? standardized digital between what they find Certain features of the digital transformation strategy. As adaptable and what is broken transformation framework make mentioned above, this down simply into steps that are it a good business plan. The transformation is crucial for logical, cohesive, and major features include: attracting customers. progress-driven. Some of the crucial steps while creating an Improving business processes Value for Businesses ideal framework for any business Digital transformation is not only are as follows: Enhancing consistency, valuable for clients, but it’s efficiency, and performance of exceptional for businesses as Focusing on Big Processes businesses well. With the usage of the latest Yes, digital transformation may digital solutions, businesses can take time. However, businesses Increasing employees’ become more efficient, secure, should also first focus on the productivity and cost-effective. It allows a largest and most impactful proper growth of the company. processes. It will enable them to Creating valuable and see the improvements earlier. It coherent business strategies Digital Adoption will also help them decide if the Digital transformation Meeting changing frameworks allow businesses to expectations of the clients Facilitating simultaneous Mar 2022 \\ Small Enterprise \\ 51
framework is showing fruitful customer requirements and data for better functioning is results. Once the crucial factors create a checklist of problems necessary. are included in the framework, that they can solve before those less impactful aspects can be problems turn into real The Future of Innovative and considered. challenges. Simultaneously, they Adaptability can anticipate areas of clients’ There are dynamic periods of Building a Reliable Workforce interests in terms of digitally change, and leadership means Businesses need to have a enhanced services to get going through it with their team reliable and suitable workforce to customer satisfaction. having the right mindset. They reach full digital potential; The should be ready to use the digital workforce should demonstrate Correct data to the right transformation framework and let their ability to help the company employee it adapt to the business needs. effectively transform. They need Of course, customers are a crucial With digital transformation being to be forward thinkers who are part of any business’ growth. a top issue of this modern world, innovative enough. Hence, hiring However, employees also hold the frameworks also play a vital the right employees is also a immense importance. If role. With the transition state, crucial step to complete digital companies provide the correct changing customer expectations, transformation. data to the right employee, it can and the latest technologies, lead to enhanced productivity businesses need to embrace the Staying connected and make business processes change and optimize their With this digital era and more effective. Employee-facing processes to adapt to the same. transition phase, everything is applications can help in such connected digitally. Businesses matters. Hence, allowing the - Maeen Tanweer need to analyze the current workforce to be connected to 52 \\ Small Enterprise \\ Mar 2022
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COVER STORY | DIGITAL TRANSFORMATION DIGITISATION, DIGITALISATION AND DIGITAL TRANSFORMATION Digital transformation is a journey that transforms From digitisation to using different technologies like businesses. Given the current entrepreneurial and machine learning and hybrid clouds, the digital economic situation, the change is fundamental now. transformation has businesses taking up a whole There is a dire need to become more flexible and different route. However, many companies and agile. During such changing times, it is essential to industries find the changes overwhelming and do learn more about technology and the not know where to start. transformation the business world is stepping into. So, to begin with, it is vital to understand the The term digital transformation and many other difference between three standard terms that are related words have been more commonly used often used interchangeably: Digitisation, nowadays. While the increase indicates the growing Digitalisation, and Digital transformation. curiosity in adopting digital transformation, the broad applicability of the terms has left businesses confused. 56 \\ Small Enterprise \\ Mar 2022
Why is it important to know the digitisation and technologies to Digital transformation is all about difference? improve business processes. It customers. It is backed by the Most people mistake the terms as uses digital data to enable better evolving nature of agile and synonyms. However, these terms decision-making processes and flexible businesses. Digital have unique meanings and mean develop business models. It is transformation integrates digital different things in the business crucial to understand that the technologies into businesses to world. Since all companies are digitalisation process will not take transform them into a more rapidly integrating digital place without digitisation. resilient and empowered business technologies in business, it is and workspace. crucial to know the difference to Digitalisation is an essential step stay ahead in the competition. towards digital transformation. It One example of digital uses digital technologies to use transformation is the automatic The misunderstanding of the data and generate revenue. For analysis of the data available in terms will result in strategic plans instance, it uses automation the PDF in the cloud with the help that do not work out and could systems to analyse the data and of IoT, AI, etc. Then, using the possibly destroy the digital help work digitally. So, it changes insights to enhance the customer transformation journey of your supply chain and marketing to experience and employee work. company. So decision-makers digital supply chain and online need to address the knowledge marketing. The Difference gap immediately. Most businesses think they are An example of digitalisation adapting to digital transformation Digitisation would be scanning a physical but end up only digitising or Digitisation is digitising document, saving it as a PDF, and digitalising their businesses. There information and data. It is the uploading it to the cloud. So, you is also a widespread process of converting analog and can now access the digital misconception that digital non-digital things to digital document from anywhere at any transformation is all about format. It has been in practice time. incorporating digital technologies, since the 1960s and has been a and the more technologies, the major driving force of Digital Transformation better advantage. digitalisation and digital Digital transformation is always transformation. swapped with digitisation and So when setting out to digitally digitalisation. However, the two transform businesses, understand With digitisation, data and processes are only two of the the core differences between the information can be accessed multiple crucial steps that are part three processes. Digitisation is the using a computer system. It has of the transformation. Digital foundation that connects the changed how businesses work transformation goes beyond the physical and digital worlds. with consumable data. factors. Digitalisation is about using Digitisation helps internal digital technology to improve optimisation of work processes, There is a most prominent feature businesses and save costs. Digital aids in cost savings, and improves that differentiates digital transformation is a journey about revenue models. transformation from digitisation changing and transforming and digitalisation. Be it businesses using technology. It is In simple words, it is a connection digitisation or digitalisation, at the about people as much as it is between the physical world and core of both lies technology. But about technology. the software world. An example of in the case of digital digitisation is something as transformation, it is both Digitisation and digitalisation are simple as scanning a physical adoptions of digital technology taken up as projects - digitising document and saving it as a PDF. and a whole transformation of customer feedback or digitalising business, at cultural and the records; but digital Digitalisation organisational levels. Digitalisation is leveraging Mar 2022 \\ Small Enterprise \\ 57
transformation is a journey. It is a understand the patients and their Therefore, digitisation and change that requires human effort needs, making necessary changes digitalisation are parts of the and a shift in human mindset. in the hospital, and analysing the digital transformation journey Digital transformation leverages benefits is digital transformation. that re-imagines businesses in technology to transform this digital age. Moreover, it is just businesses by incorporating many Another favourite example is the beginning of the digital age, digitalising projects and building online movies. Converting all CDs and companies need to a robust digital culture. to online films or MP4s is understand the different concepts digitisation. Digitalization is and strategies accordingly. It will For example, converting physical streaming movies on online help them build a strong records of patients to digital platforms and making them foundation over the years and records is digitisation. Uploading available for consumers. develop a competitive digital these files, making them Collecting & analysing the data to edge. accessible to others, and curate personalised changing the reporting process is recommendations and offers is - Harshini digitalisation. Using the data to digital transformation. 58 \\ Small Enterprise \\ Mar 2022
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COVER STORY | DIGITAL TRANSFORMATION PILLARS OF DIGITAL TRANSFORMATIONS COVID-19-driven significant impact, digital transformation appears to have become the most common word on every executive's mind. Some feel that strategy focuses on keeping the firm and its employees safe during a crisis. Organizations now have the chance to fine-tune, reconsider, or rewrite their approach to align them with their long-term objectives better. There are several debates on defining what digital doing basics to performing many tasks teaches us to transformation means for established businesses. By evolve our understanding of the organization's cutting the clutter, one can recognize that it is a digital transformation to enable firms to define multi-stop journey with different goals depending various digital transformations and plan on your business and level of digital maturity. The accordingly. The pillars and effective processes for evolution of computers from a device capable of success are outlined below: People especially at a tumultuous correct technology, data, and Technology is vital in digital moment when businesses and process professionals and has the transformation, but people must workers are still adjusting to a leadership drive through the understand the consumer better seismic shift in working practices. essential difference. deliver products and services they Any workforce transformation desire. This entails looking at the strategy must support flexible and Innovation organization from the outside to remote working on a culture level The perfect combination of identify areas of friction or and provide effective remote people and innovation allows new impediment and places where communication and collaboration goods, services, and disruptive companies can improve along technologies. It is much easier to business models to emerge. AI with empowering people, push through a change with the and machine learning technologies can benefit 60 \\ Small Enterprise \\ Mar 2022
employees by speeding up of revenue. Digital transformation businesses have already time-consuming or complicated enables the development of new embarked on this journey, while processes. Still, they can also help business models, goods, and many others are grappling with customers by providing tailored services and collaboration with a improving their digital recommendations, accurate broad ecosystem to generate new infrastructure. It will need IT predictions, or time-saving triage revenue streams. Due to the need architects and effort but will result of support and service calls. The for investment, agility, and, most in more up-to-date systems with critical point is to embrace crucially, a team capable of more effective capabilities to technology or solutions for how it executing tests to evaluate the satisfy customer service needs at can help you meet and accelerate new business prospect, indicating lower maintenance costs. your organization's goals, not development in solving a However, complex tools such as merely for its own sake. significant client problem, and artificial intelligence require more Furthermore, innovation can only successfully increasing to grow. established digital businesses. start when you encourage The companies can examine their risk-taking by bringing together capacity to boost client retention The Data the smartest and brightest from and the number of clients, Data and people drive the your various teams to cooperate engagement, and cross-selling successful transformation by and co-create. opportunities to determine providing more accurate whether they are succeeding. information and powering new New Projects analytics, AI, and machine Digital service provides Upgraded IT learning applications. It is crucial established businesses with a An IT upgrade gives your firm to increase client engagement, plethora of new prospects. To access to cutting-edge service, and support to assist benefit from these opportunities, capabilities that boost staff public sector organizations in companies must develop both productivity, reduce IT understanding how public innovation and digital capabilities maintenance costs, and boost resources are used and making to test and pivot to new sources employee happiness. Some critical decisions that will shape future policies and planning. Organizations must understand their data, how it is utilized, where it is stored, and how to access and combine data from several sources. Also, they must keep it secure and compliant with internal and external privacy and compliance rules. Unstructured, external customer and social data must all be brought together, which frequently necessitates a process adjustment to ensure that it is collected and used consistently. This leads us nicely to the next pillar. Processes Data-driven insights can be revolutionary on their own. Still, to have the most significant impact, Mar 2022 \\ Small Enterprise \\ 61
they must become a part of Software-as-a-Service solutions communicate with clients and sell everyday organizational activities may be more suited to meet new to them. Not surprisingly, it so that acting on trends and business objectives. It's not always requires various resources, business information becomes straightforward to switch to a new including investments in clean second nature to every employee IT method, but it can save money data collection, digital devices, at all levels. Furthermore, if for the company while allowing such as artificial intelligence, to possible, replacing old, for more flexible and dynamic understand customers better, and non-digital procedures with working styles. Redefining the omnichannel presence. Some digital processes allows things to workplace as a workspace, multinational retailers employ be done faster and more providing space and resources for digital channels, AI, and predictive cost-effectively, typically with less people who require them while analytics to access prospects and human participation, removing lowering office overheads such as consumers and set up digital bias from the analysis and making rent and electricity, is the same. marketplaces, viral marketing, and it even more informative. Digital geotargeting campaigns. processes include: Digitizing operations Similarly, businesses are employing artificial intelligence to Virtual ordering and queuing The digital optimization for detect and respond to crucial systems. simplifying and rationalizing consumer behaviours, such as current processes is another pillar seeing customers who are likely Virtual communications and of digital transformation that is to abandon your service and collaboration tools. often targeted earlier in the intervening before they do so. journey. To employ digital tools to Electronic project streamline corporate growth, Final Thoughts management. include more advanced Digital transformation is a journey technologies like AI, 5G, and IoT. that takes time and consists of Document management. It's not simply about replacing several evolutionary and analog processes with digital occasionally disruptive processes. Approval systems. ones; it's about reorganizing the To achieve goals, first set them; organization and operations to therefore, businesses start with IT They can reduce friction in both serve customers better. upgrades and digitizing the customer and employee Operational digitization is a operations, then move to digital experience while also allowing for critical component of digital marketing and developments. higher levels of automation, transformation since the However, because all pillars are making it easier to focus on the organization will fall behind more critical to digital transformation, customer and their needs. efficient competitors without it. A they may impact differently. The company might start its digital key to a successful business is Optimization transformation by digitizing digital understanding, combining Organizations can also benefit processes and then completely many different elements. If all are from new digital, data-driven restructuring redesign operations set and in place, each pillar can procedures that help them for more transformational tremendously succeed. optimize and streamline their opportunities. operations. Transformation is an opportunity to move away from Digital Marketing outdated systems in favour of a This pillar differs from the others more flexible, scalable, agile, and by using digital tools to cost-effective IT architecture and move towards the latest cloud-based infrastructure. - Maeen Tanweer 62 \\ Small Enterprise \\ Mar 2022
COVER STORY | DIGITAL TRANSFORMATION TECHNOLOGIES DRIVING DIGITAL TRANSFORMATION Digital Transformation is increasingly embraced by different businesses worldwide. This shift is driven by crucial technologies that indicate a promising digital future Technologies drive the way forward in the digital Above all, the demand for digital transformation is age. Digital transformation is not a one-time fueled by adopting new technologies. In fact, change. Instead, it is adapting to a constantly technological advancements are why we are changing environment. There are many external progressing every day in the digital age. factors that lead to the increase in digital transformation. 64 \\ Small Enterprise \\ Mar 2022
What drives digital transformation. The core need of However, it happens without any transformation? digital transformation lies in supervision or constant checking Several factors drive digital businesses adopting flexible and with automation technology. transformation in business. We adaptive measures. Artificial could classify them into prime, intelligence helps companies Such automated interaction with internal, and external factors. become transformable, agile, the viewers and consumers will The prime factor that drives the and resilient. boost your digital marketing change is customer experience. results. From optimizing With a change in consumer AI is already an essential part of workflow within departments for behavior and expectation of business strategies. Companies logistical purposes to demands, the digital can leverage AI to understand streamlining customer transformation took the center their customers, enable engagement, automation pushes seat. External factors are successful marketing techniques, businesses to the next level. environmental and economic analyze markets, and much conditions such as Covid19 that more. Digitization necessitate the shift. The internal Digitization is the primary arena factors are the new technologies It plays a crucial role in from where digital that are rushing in. unlocking consumer preferences transformation got its wide and improving the end-user acceptance. As the term While other factors have experience. Moreover, it gives indicates, it is the digitization of exhibited the need and necessity businesses the competitive information. It is the conversion to adopt digital transformation, advantage it needs for sustained of on-paper data and the new rush of technologies development. Thus, artificial information into digital copies. has enabled the adaptation. intelligence and machine They have given businesses the learning open horizons for Going paperless has created a tools and measures to create, cost-saving and significant impact in almost store and access information revenue-producing models. every sector. From education and projects differently in the and healthcare to IT and digital world. Automation government, every industry has Earlier, employees had some adapted to digitization. It has The adaptation of reinventing mundane tasks to repeat built the foundational ecommerce models and regularly. It reduced the actual connection between the physical personalized interaction through time they could spend on and digital spaces. While it has advanced technologies — like ideating and strategizing. been around for a long time, it is cloud storage and the internet Repeating the same tasks also an important technological of things — by Netflix and Uber left little room for creativity. component of digital are significant examples of With automation techniques, transformation. technologies driving the change. machines can do the tasks automatically, saving time. Big Data Businesses take on the digital Data is ruling the business world transformation route to meet It adds more accuracy and today. Never in the past have we the escalating demands in the consistency to the results. Both collected, stored, analyzed, and digital age. The initiative to internally and externally, it has leveraged data as much as we adopt the transformation is helped businesses thrive. Take, do today. Big data might sound made possible by some of the for instance, the act of like a complicated buzzword. following digital technologies. scheduling emails to your However, its impact on digital first-time visitors on the web. If transformation is enormous. Artificial Intelligence these things are done manually, Artificial Intelligence (AI) is one it would cost so much time and In simple words, it is an of the chief drivers of digital need an additional workforce. extremely large volume of data Mar 2022 \\ Small Enterprise \\ 65
sets collected by organizations eases the process of storage, thanks to the internet of things that reveal specific patterns. maintenance, analytics, and and its pivotal role in digital Although it is harder to process securing data. It helps to transformation. and manage, data analytics help streamline administrative to make optimum use of the processes and improve Blockchain collected data. Big data has productivity and communication. Blockchain is a digital ledger. It helped businesses extract Cloud computing offers more is a distributed record of meaningful trends and flexible, cost-effective, and electronic transactions. It helps information with new data secure solutions tailored for in building a resilient supply analytics processes. business requirements. chain and other transactions. It paves the way for increased So big data helps automation Internet of Things transactional transparency. and digitization of operations. The Internet of Things is at the Blockchain lowers the cost of Big data analytics aid businesses center of it all. It connects the doing business and provides in understanding consumer physical world to the internet data security and resilience. interaction, market trends and and opens up several help tweak their marketing possibilities for growth and It is an essential component of strategies. Therefore, big data is development. It is predicted that digital transformation and an essential tool to embrace internet-connected devices will promises a secure transaction digital transformation. grow larger in number, to be and communication. Blockchain precise, more than 80 million by supports, aids, and enhances Cloud Computing 2025. multiple departments, including It is often assumed that digital payment networks, data sharing, transformation is all about IOT furthers the growth of all and supply chains. moving assets to the cloud. technological advancements like Although it does not cover the supply chain management, entire aspect of digital artificial intelligence, cloud transformation, it is a vital factor computing, and others. The that accelerates the change. internet of things has led to the Cloud could be called the creation of many possible ways foundation for an agile and for companies to stay connected flexible business model. with their customers. Smart working for businesses and Cloud computing, the practice of enhanced customer experiences using remote network servers, have been made possible, - Harshini Venkatasubramaniyan 66 \\ Small Enterprise \\ Mar 2022
MONEYCONTROL PRO RANKED IN TOP 20 GLOBAL DIGITAL NEWS SUBSCRIPTION SERVICES WORLD’S BIGGEST DIGITAL NEWS SUBSCRIPTION SERVICES RANK PUBLISHER COUNTRY SUBSCRIBERS 1 New York Times (USA) 6,991,000 2 Washington Post (USA) 3,000,000 3 Wall Street Journal (USA) 2,460,000 5 Financial Times (UK) 1,300,000 8 Nikkei.com (Japan) 767,978 12 Economist App (UK) 506,867 15 The Atlantic (USA) 400,000 330,000 20 MoneyControl Pro (India) Source: Global Digital Subscription Snapshot by FIPP, CeleraOne
COVER STORY | DIGITAL TRANSFORMATION KEY TRENDS IN DIGITAL TRANSFORMATION IN 2022 Digitalization is already in high gear, and technological advances continuously develop. When times change so quickly, it's critical to stay at the forefront of trends, so you don't fall behind. So, in this post, we'll look at digital adaptation, why it matters, and some of the year's most excellent themes. Buckle up, and let's get started! What is Digital compete in the big league with Lower costs and a higher ROI. Transformation? your competition. In its most basic form, digital Contemporary architectural transformation explains how a What is the Importance of Digital and business models firm uses technology, people, Transformation? and processes to give value to its The risk of falling behind is a consumers. Businesses hope to Businesses can reap a variety of compelling motivation to achieve this by developing tangible benefits from digital embrace digital change. company models that will last the transformation. These include: According to reports, digitally longest and generate the most changed firms are expected to money. Everything boils down to More robust network generate more than half of a technological rethinking. infrastructures. global GDP by 2023. That's more Consider this. Essentially, digital than $50 trillion. transformation is all about More possibilities for data combining your weaponry to visualization. Although this puts enormous pressure on organizations to Improved efficiency. implement a digital 69 \\ Small Enterprise \\ Mar 2022
transformation, company leaders marketing, or customer care. To promote productivity and should be wary of diving in retain employees, organizations without a well-thought-out plan. Automation will no longer be must provide digital-first and limited to enterprise-level linked experiences. Top 2022 Digital enterprises in the coming year, Transformation Trends especially with more affordable Digital Banking We will discuss below the top options on the market all the Businesses upgraded their digital Digital Transformation trends time. According to a Gartner assets to better operations in that businesses should report, 77% of firms utilize a 2022, indicating that digital investigate more. combination of integration, transitions are unavoidable. The automation, application rate at which firms change Data Protection and development, and AI solutions digitally will not slow down in Cybersecurity regularly. AI will be able to 2022. In 2022, the Data Protection automate tiresome or high-risk Regulation will be at the tasks. Digital banking will be one of the forefront of digital change. top digital transformation trends Security will become the most Cloud services by 2022. Most financial services critical technology and Cloud solutions are gaining are now available online, from commercial activity in 2022. popularity due to their numerous loan applications to digital Security-by-default will become a advantages, including scalability, payments. In the upcoming years, need as enterprises realize that cost savings, and ease of use. there will be an increase in digital their apps and automation must banking. This will have a be secure to gain the trust of Businesses and organizations significant influence on the their customers. You can expect that use digital technology financial sector. You may have to see a strong emphasis on require enhanced data noticed that various openness and safety in the protection. As technology organizations have begun to coming year. advances, so make the threats provide loans and credit cards posed by hackers, necessitating online. Document verification For example, in 2018, Mark increasing data security and other evaluations are now Zuckerberg came under fire for a procedures. Cloud-based services completed online. considerable breach of boost cyber-security features and Facebook's security. This protect company data. In 2022, 5G and IoT impacted around 50 million digital innovation will compel 5G has been a trendy phrase for Facebook users. Several big enterprises to use cloud solutions two or three years. This year, it's corporations and government to prioritize data security. all going to go viral. One thing is agencies have failed to protect sure. The implementation of 5G their customers' personal Hybrid work will hasten the digital world's information, resulting in many Hybrid work environments will be transition. 5G promises a host of data breaches. the most popular digital advantages for telecom transformation trend in the operators, ranging from Business Process Automation coming year. They are rapidly expanded capacity to delivering Business process automation is a expanding, and their workplaces new content, services, and new digital transformation are changing. Employee experiences in previously concept that businesses must expectations are rising as the inconceivable ways and at embrace by 2022—minimal future of work becomes more remarkable speeds. business automation. Small interconnected. To enhance business owners must use efficiency and retain talent, By drastically changing how business process automation in businesses are compelled to services are provided to all areas to lead the market adapt and create digitally end-users, 5G can alter business competition, whether accounting, connected experiences. models and operations. It will Mar 2022 \\ Small Enterprise \\ 70
offer faster speeds, lower latency, firm, making it one of the most Here are a few more ways that and greater density than 4G critical digital transformation Low-Code solutions could affect networks. Companies, particularly topics for 2022. This entails many sectors in the future: cloud service providers, will need employing AI-powered tools to to invest more in network detect and understand trends, Identifying specific pain infrastructure to deliver and reap make decisions, forecast, learn, locations. the benefits of 5G. and improve. From tech-savvy startups to major enterprises, Selecting and defining proper Across-the-Board Hyper every firm will attempt to solutions. Automation integrate AI into its systems and There is no doubt that operations. Creating agile teams. hyper-automation, the process of incorporating automation into AI is at the heart of modern Values are being iterated every aspect of business cybersecurity, RPA, and analytics upon. operations, will be the heart of technologies. As a result, digital transformation. In corporations are increasingly Conclusion summary, automation is critical turning to artificial intelligence Keep in mind that digital to digital transformation because (AI) to obtain a competitive transformation entails more than it is the most straightforward way advantage. simply technology when you to achieve scalability, efficiency, begin developing a digital and cost savings. Low-Code Tools strategy for your company. It's During their digital not as simple as picking a piece The AIOps sector is one area of transformation, many of technology and putting it to digital transformation that has technologies used by firms are work. Setting precise goals and been advanced by classified as \"Low-Code\" or declarations is the first step in hyper-automation. AIOps \"No-Code.\" These essential defining the company's digital systems can centralize data and solutions allow you to create strategy. use algorithms to aggregate and complicated systems with little or correlate alerts. no coding knowledge. The It's crucial to stay ahead of the proliferation of Low-Code most recent digital Artificial Intelligence technologies, aided by digital transformation trends, such as Development and transformation, will result in the ones we've covered in this Democratization (AI) widespread staff upskilling across article. It will help you make various industries. more informed judgments about AI democratization can expedite your digital strategy. digital transformation within a - Maeen Tanweer 71 \\ Small Enterprise \\ Mar 2022
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COVER STORY | DIGITAL TRANSFORMATION BENEFITS OF DIGITAL TRANSFORMATION Digital transformation is the change every business needs. From resilience building to enhanced customer experience, digital transformation re-builds businesses to meet the demands of the digital world. Digital Transformation is the infusion of digital workflows and strengthens businesses. technologies into business. It alters the way a company functions. For companies to stay ahead in Often digital transformation is viewed as the the competitive curve, making a smooth digital mechanism of moving from paper to paperless. transformation is crucial. Although it is one part of digital transformation, there is more to this transformative process. Every This transformation based on the developing facet of your organization is re-built to meet the technologies re-imagine businesses from their very newer demands of technologies and develop a roots. With a shift in culture and efficient robust business structure. leadership, digital transformation accelerates 73 \\ Small Enterprise \\ Mar 2022
The Importance of Digital consumers, competitors, and So the business has a Transformation markets were collected. But transparent procedure in place Digging history, one could say businesses failed at reaping the for both workplace digital transformation dates real benefit of it. enhancement and productivity back to the foundation days of targets. Apart from transparent computers and the internet. At one point, there was so much data boosting productivity, there Earlier, industries thought it a data that one could not analyze are also other factors that fad trend and disregarded the and make use of it. This is where emerge as a result of digital transformation. digital transformation is transformation. advantageous. It helps in not However, with rapid changes in just increased gathering of data, For instance, in the digital world, the past few years, digital but also enhances and optimizes machines do several processes transformation has risen to data analysis. that were earlier done by become an imperative humans. The efficiency of using revolution across different The new space to analyze and machines is reflected in industries. As a result, there is evaluate stored data helps drive outstanding quick processes. plenty of change afoot with the the business forward. It gives the When time-consuming tasks are digital transformation taking business a better understanding done quicker, it gives the center stage. of the market and its customers. departments more time to plan It shows what plans are working and implement strategies. So Digital transformation gives and what plans are failing. In digital transformation paves the businesses a competitive edge. addition, businesses also use way for a more transparent, It changes the working many privacy procedures to time-saving, effective, and experience, enhances customer keep consumer data intact. productive business model. interaction, and encourages a robust work culture. If When businesses work on a Enhanced Customer businesses want to survive, grow data-centered model, they Engagement and Experience and develop in this digital understand their consumer’s ‘Customer is the King’ - Business sphere, they cannot do so likes, wants, and needs. It helps formats may change, but the without this mandate shift. them plan better strategies in importance the customers hold several aspects, including remains the same. Even more, Benefits of Digital product changes and marketing companies undertaking digital Transformation plans. Therefore, digital transformation show extra focus Be it any industry, digital transformation highlights the on consumer experience. transformation is the need of key areas to focus on and gives the hour. While traditional the businesses a clear idea of Customer experience decides methods can be comforting and making better strategies. your growth in the digital world. satisfactory, this transformation They are pampered and flooded will open the doors for more Increased Transparency and with endless choices and opportunities and better growth. Productivity additional benefits. So For businesses still wondering When there is a data-centered integrating digital about taking up digital approach, the information transformation offers a transformation, these benefits collected and analyzed is hassle-free, intuitive experience will prove worth the efforts. accessible across different for your customers, besides departments. The different team development and Data-centered Business departments can work hand in increased productivity. The process of data collection is hand in producing desired nothing new to the business results. The insights and analysis Customer experience is world. Even before digitalization, will also give a transparent view everything that you offer. Right the details and information of of the business status. from the chatbots in your Mar 2022 \\ Small Enterprise \\ 74
website, emails to other digital to meet the fast-paced A common misapprehension services, all of it determines environment. It helps companies about digital transformation is customer experience. In fact, evolve and create new strategies that it suits only big enterprises enhancing customer experience whenever there is a change in and requires costly re-building and providing better services is the market. of business. However, digital at the heart of all digital transformation is suitable for all transformation plans. One cannot foresee future sizes and types of enterprises. changes. However, when there is Increased Agility and a demand for change, a In fact, it helps companies save a Flexibility company can shift gears and do lot. For example, think of the Digital transformation makes so quickly and easily with heavy, time-consuming, and businesses more agile and mature digital transformation expensive process of manually flexible. Given the present practices. maintaining records and data. context, changes have become With digital transformation, you more constant and inevitable. More Savings and Increased can cut out all those expenses. Digital transformation helps Profits businesses react positively to Business leaders worldwide are Digital transformation is a such changes. investing in next-gen technology cost-effective and at the core of re-imagining their revenue-driven model. Thus it Besides being able to cope with infrastructure with digital helps businesses save more and the change, companies exhibit transformation. As a result, scale high. greater resilience and come up companies leading in digital with more flexible plans. The transformation reveal that it has different software for working generated more profits. and storage is perfectly tailored - Harshini Venkatasubramaniyan 75 \\ Small Enterprise \\ Mar 2022
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COVER STORY | DIGITAL TRANSFORMATION MEASURING ROI ON DIGITAL TRANSFORMATION The capacity to determine digital transformation's return on investment (ROI) might be difficult for transformation businesses. Because client interactions cannot be quantified using traditional methods, no single statistic can be used to assess digital transformation. They must notice and consider the advances in customer service, business processes, and workflow. With an expectation of increased revenue and new investment. So, how should organizations measure value creation, it's difficult for them to avoid ROI, and, more importantly, how should they define confusion. Return on Investment (ROI) determines and achieve the appropriate ROI goals? the effectiveness of a company's investment. Companies can evaluate the return on a specific Let's explore the strategic guidelines and steps investment based on ROI compared to the mentioned below: Guidelines To Follow to increase their revenues, while quantify in various ways. The technology implementation non-profit organizations want to improves or builds a process, improve their efficiency. The goal Calculation Process of ROI On product, or expertise to deliver is to improve customer Digital Transformation commercial value, revenue interactions through technology Some corporate businesses growth, improved customer such as artificial intelligence, demand that a digital experience, cost reduction, and analytics, and self-service, transformation project be up and increased productivity. In the resulting in a return on operating as soon as possible, end, for-profit businesses strive investment that Businesses may citing competitors with digital transformation roadmaps in 77 \\ Small Enterprise \\ Mar 2022
place. However, revolutionary customers if companies track the technological advances to steps like improving customer record of conserving and succeed in the digital world. service or increasing efficiency safeguarding their customers' with new technology necessitate personal information. Determine ROI Affecting thorough preparation. Factors Digitalization Capacity If you have a well-established Digital Transformation Metrics According to analysis, seven key product, measuring the ROI of Businesses seek to approach capabilities drive digital digital transformation is simple. If digital transformation in a more transformation, including you're launching a new appealing and disruptive manner. intelligent processes, business innovative product, concentrate They can use all of the following model adaptability, and a unified on finding consumer satisfaction metrics to assess the change: customer experience. It's also patterns and positive changes in critical to create a business your product or service quality. Increased Sales ecosystem that relies on The ROI on digital transformation partnerships with external is constant for established Increased Client Acquisition, companies to provide organizations. However, when Retention, and Satisfaction cutting-edge technology and new technology is incorporated harness their skills and resources into a company, the likelihood of Enhancement of process to promote digital digital growth is significant. quality transformation. Intelligent Marketing timing is crucial for workflows enable you to make new products, leading to a Enhancement of product the most of your technology long-term and elastic ROI. It's quality implementations and human critical to acquire a head start on resources, which help create an your competitors when launching Improved Productivity. environment that allows for the a new product or service. best possible business outcomes. Focusing on your market value, Customer Experience A unified customer experience total revenue, and year-over-year Digital transformation can affect aims to provide the most growth figures for your digital every element of an organization, efficient services while also transformation roadmap is the but it has the most significant seamlessly delivering products most effective approach to impact on customer experience. and services. determine the ROI for your With advancements in digital innovation activities. technology, customer experience Innovation Returns has become the top priority for When it comes to gauging digital Steps To Follow organizations that thrive on transformation, digital innovation digital platforms for direct initiatives are more critical than Set Goals. customer-brand investment. A product or service Businesses should concentrate communications. It's critical to that offers anything new defines on a digital transformation goal note the advantages of innovation at its most for an estimated time, prioritizing implementing new technology to fundamental level. This could be which will benefit the company. improve customer experience. a brand-new digital product or The determination of a single aim Track technical advancements an existing product with a digital aids firms in developing precise that enhance customer twist to improve the consumer plans and implementing experience and use the most experience. Investments made in successful actions while suitable digital marketing trends small increments are more likely maximizing the company's to improve customer experience. to result in reduced returns. existing resources. Businesses The long-term benefit of your Instead, companies must spend can choose the appropriate ROI digital transformation activities is more on innovation and stay target based on the digital more important than short-term up-to-date with the latest transformation goal and use revenue. Business processes that route optimization software to directly affect customers can also impact brand value. Good data security policies can instill trust in Mar 2022 \\ Small Enterprise \\ 78
boost fleet productivity. tech advancements and Conclusion innovations' current cost It's critical to understand the Structure Business Cost structure trends. company's context when considering an investment in The next step is for businesses to Adjust Strategy digital transformation. For a evaluate their current cost Businesses find it challenging to micro-level digital transformation structure: determine whether the digital investment, promotions and transformation is effective or not demonstrations of the offerings Finding the most by examining ROI outcomes over to your potential target audience cost-effective activities a short period without are recommended. The comparing them to other importance of ROI in digital Finding non-cost-effective periods. But with this approach, transformation cannot be activities they cannot expect satisfying overstated. A high return on quick results as digital investment (ROI) indicates that Finding activities to invest transformation is a lengthy and the company's investment more and vice versa patient-seeking process. Measure strategy is clear and on track. ROI regularly according to However, businesses must Finding changes to make in predetermined timescales to combine analysis and the existing cost structure in establish the success of your comparison with other indicators line with your digital digital transformation. to have a holistic view of the transformation goals Monitoring ROI regularly in business and make the best established timelines assists in decisions. The good idea is to invest in evaluating the performance will Business management software help assess the effectiveness of - Maeen Tanweer to minimize human efforts and the existing operation method in time consumption. Although it achieving the initial purpose and seems to be a costly investment making necessary changes. in terms of software subscription plus users training, it will increase productivity and save time and effort. Hence, businesses must invest to save time and adapt to 79 \\ Small Enterprise \\ Mar 2022
INDIA DARSHAN NATIONAL INTEGRATION AWARDS 2022 Presented by MNTV Mr.Sunilkumar Nadesan receiving Innovative Edupreneur of the Year Award On Saturday the 19th of March 2022, the India Darshan National Integration Award 2022, organized by Malanadu TV (MNTV), were announced, broadcasted on Malanadu TV. Having made it through the jury selection panel, the Categories and Winners of the Awards: winners from each category were able to progress through to the National Awards where 10 Sri Devulapalli Amar Advisor National Media and personalities would compete to earn the top spot in Inter State Affairs (NMISA), Govt of AP participated as each category. This year, entrants for the MNTV Chief Guest in Malanadu TV Business Conclave and awards were of the highest standard yet, meaning India Darshan National Integration Awards 2022, held that judges had a really tough challenge choosing at Le Meridien, Kochi on 19 March 2022 the overall winners. 81 \\ Small Enterprise \\ Mar 2022
AWARD CATEGORY AWARD WINNERS Visionary Leader of the Year Dr.Viju Jacob, Managing Director, Synthite Industries National Rebuilding Company of the Year Business Person of the Year Team Maverix Pro Humanitarian of the Year Mr. Prakash Parakkat, Chairman and Founder of Parakkat Group Of Business Innovative Edupreneur of the Year Best CEO of the Year Mr.Amar Devulappali, Advisor, National Media and Interstate Affairs Lifetime Service to the Nation of Govt. of Andhra Pradesh Lifetime Achievement Award Business With Social Development Mr.Sunilkumar Nadesan, Chairman, HomeSkul Innolearn Private Limited Social Service Person of the Year Mr.Dojo Jose, Founder & CEO, Aspire Media Pvt Ltd Major Ravi Mr.Mathew Francis Kattukaran Dr.Abraham Kalamannil Joseph, Chairman, Mount Zion Group Br Johny Tholeli, St Johns Mission Kothamangalam Dr. Viju Jacob receiving the Visionary Leader of the Year Award Team Maverix Pro receiving the National Rebuilding Company of the Year Award Industrialists are looking towards Andhra Pradesh for investments as the state is a potential destination for schemes implemented by Andhra Pradesh Chief them under the dynamic leadership of the Chief Minister Sri Y.S. Jaganmohan Reddy through Village Minister Sri Y. S. Jaganmohan Reddy and the Secretariats. industrial policy is being implemented in a single window manner with clean and transparent Sri.Jishnu Jayesh, CEO, Malanadu TV along with Sri governance. Similarly, the AP Government also Jayesh, MD, MNTV announced the winners. adopted organic farming and marketing by providing best prices to the farmers and producers, Sri Amar Malanadu TV honoured Sri Devulapalli Amar with said. India Darshan National Integration Award 2022. Sri V.B. Rajan Senior journalist and jury member of the Speaking on the occasion Sri R. Jayesh, Managing awards committee, Major Ravi, Ex-Minister Sri PC Editor, Malanadu TV appreciated the government Thomas and others participated. Mar 2022 \\ Small Enterprise \\ 83
Mr. Prakash Parakkat receiving Business Person of the Year Award Mr.Amar Devulappali receiving Humanitarian of the Year Award Mr.Sunilkumar Nadesan receiving Innovative Edupreneur of the Year Award Mr.Dojo Jose receiving Best CEO of the Year Award Major Ravi receiving Lifetime Service to the Nation Award Mr.Mathew Francis Kattukaran receiving Lifetime Achievement Award Dr.Abraham Kalamannil Joseph receiving Business With Social Br Johny Tholeli receiving Social Service Person of the Year Award Development Award 84 \\ Small Enterprise \\ Mar 2022
Panel discussion on ‘How to make Kerala more Business Friendly State”. Mar 2022 \\ Small Enterprise \\ 85
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