Leading organisations around the globe continuously seek new and innovative ways to reduce costs, time and processes through the use of digital transformation. But what exactly is digital transformation? Digital transformation is the process of using technology to create new or alter existing processes, culture, and customer experiences to meet changing business and market opportunities and challenges.
Whilst the COVID pandemic forced organisations to quickly find new ways of ensuring consistent operation through digital transformation, leading research companies, such as Gartner, provide statistics that this trend was already on the rise within leading organisations – COVID simply accelerated it. This is due to the new challenges and opportunities organisations are facing including access to immense data, hyper-automation and hybrid experiences. Let’s analyse the key trends that will shape digital transformation in 2022, allowing your team to help better prepare your processes and strategies for 2022.
Key Trend #1: Systems designed to boost security and reduce fraud
In the most recent Targeting Scams Report, the ACCC reported an astonishing $851M lost through fraud in Australia in 2020 alone. Safeguarding systems has become a crucial element for organisations. Organisation leaders understand that methods of fraud are becoming much more diverse and aggressive which force organisations to invest in ways to secure systems through digital transformation. Sophisticated systems have the ability to quickly detect and alert users of fraudulent activity through the use of AI.
Key Trend #2: Using digital transformation to create new digital value
In 2022, organisations will frequently use digital methods to unlock value that will transform both customer and employee experiences. Digitising processes allows organisations to automate tasks and implement strategies that boost productivity whilst reducing costs to hit goals quickly and effectively.
Key Trend #3: Building streamlined experiences through integrated systems
Organisations adopt external systems as they discover new and innovative ways to digitise processes. Once these software systems are implemented, organisations will continue to discover ways of connecting these systems together to streamline experiences for internal staff, stakeholders and customers. ERP systems such as MYOB and Xero have opened their own dedicated marketplaces, whereby multiple applications can be connected together to offer even further benefits to the end-user.
Key Trend #4: Investing in staff dedicated to digital transformation
With the multiple opportunities and challenges digital transformation presents in 2022, dedicated staff members will base their core roles around the organisations’ efforts for digitalisation. These resources will work side by side with departments within the business, striving to boost efficiency within existing processes through the use of digital.
Gartner has presented that digital transformation technology priorities for business leaders in 2021 rose to a staggering 49% and is expected to increase even further this new year. 74% of organisations in 2021 have already or are currently moving processes towards digital to boost customer experience, increase security, accelerate processes and increase employee satisfaction.
Everywhere we look, Digital Transformation is thriving. Within the Hospitality industry, restaurants are implementing QR code scanning to automate the entire order to pay process for customers to boost experience satisfaction whilst keeping errors low for staff. Skilled roles in significant departments such as finance are utilising software such as expensemanager to automate their entire Spend Management process whilst connecting to their ERP systems, keeping costs low whilst saving days per month.
Digital Transformation is a core element for sustainability and long term growth within the organisations of tomorrow. By digitising processes within an organisation opens up new opportunities and values that aim to reduce cost and improve experiences, whilst boosting security and mitigating fraud. Ensure you consider these 4 trends to help better your digital transformation strategy in 2022.
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