The fourth industrial revolution (4IR) is well underway. And the most significant change it has brought is the digitization of most business processes. Those who don’t adapt to the changes and fail to adopt digital transformation will lose opportunities to grow their businesses exponentially.
That’s why you must implement the right digital resources that will power your business into the future.
What are Digital Resources?
Digital resources are automated systems designed to digitize legacy systems used to run businesses. A digital resource serves the purpose of helping you increase productivity, improve efficiency, and reduce costs. This results in higher customer satisfaction rates, business growth, and a boost in revenue.
Digital Transformation vs. Digital Resources — What’s the Difference
As you look into digitizing aspects of your business, you’ll hear two terms being used interchangeably — digital transformation and digital resources.
But are these two the same?
No, they are not. Here’s the difference between the two:
- Digital transformation. This is the process of adopting systems, processes, and tools that will help digitize your business.
- Digital resources. These are the actual tools you use to adopt digital transformation in your business. These include hardware and software and software components as well as cloud-based solutions.
Now that you know the difference let’s quickly dive into the digital resources you should know as you look to embrace digital transformation.
6 Different Types of Digital Resources for Business
Taking your business into the 4IR and successfully navigating your digital transformation requires that you have effective and relevant digital resources in place. Here are six of the most common ones you need to know:
1. Digital Machines
Digital machines are pieces of hardware programmed to offer services or perform tasks that would otherwise be the responsibility of an employee. Designed to solve a specific problem, they help eliminate bottlenecks in systems and improve efficiency. Depending on your industry, you can run a one-man business with the help of digital machines. You can also reduce your reliance on hiring employees or outsourcing aspects of your processes, all the while reducing overheads associated with staffing.
2. Digital Systems
Digital systems bundle software, hardware, and integrations that form a network. In other words, digital systems help build a connected ecosystem you can use to connect all aspects of your business processes. An example of a business system would be a fleet management system designed to keep track of drivers, trucks, shipments, customer data, e.t.c. This would help streamline your operations and also ensure that all the data you need to run your day-to-day operations is at your fingertips.
3. Software Platforms
Software platforms have become the foundation on which most business processes are built. These are a set of software and its surrounding ecosystem of resources designed to help you grow your business. Software platforms enable growth by allowing you to easily connect your tools, teams, data, and processes.
One of the biggest advantages of software platforms is that they allow you to gather, process, and manage data at scale. This allows you to build effective business processes and marketing campaigns faster.
Platforms-as-a-service has become one of the most sought-after digital resources for business. This is because it allows businesses to access and use powerful hardware and software without having to invest in the resources needed to acquire, install, and maintain them.
4. Digitally Enhanced Advanced Services
Digitally enhanced advanced services (DEAS) focus more on improving customer experience as opposed to just providing a product.
Adding DEAS to your product offering can also help predict maintenance issues and mitigate the occurrence of breakdown and downtime. They do this by notifying operators when a component in the system needs replacement.
DEAS has also brought about many changes in how businesses operate and generate revenue. For example, some transformative technologies in DEAS allow for a pay-per-use model or for customers to pay for a particular outcome. This adds value to the product and encourages increased usage by customers, thereby driving business growth.
5. Process Optimization Software
Some business verticals, especially industrial and manufacturing, run hundreds or even thousands of processes at any given time. As can be imagined, keeping things running smoothly can be complex.
This is where process optimization software comes to the rescue.
Process optimization software combines data analytics with asset and project management tools. This enables users to manage business processes and identify opportunities for optimization and growth.
6. Digital Consultation
The fast advancements in technology have opened up a critical service every growing business will need — digital consultation.
Digital consultation is an essential type of digital solution that focuses on helping you leverage the best digital technologies to increase efficiency, productivity, and profitability. This is through core functions such as leveraging, among others:
- Data and artificial intelligence
- Established and emerging technologies
- Automated systems to optimize operations
Digital consultation helps businesses optimize their digital growth, create stunning digital experiences for employees and customers, and helps organizations build digital talent and culture. They also help you stay relevant in the fast-paced digital era we’re living in.
Digital Resources — Choosing the Right Ones
Choosing the right digital resources for your business can be a daunting task. That’s why you must enlist the help of a digital transformation company like iTransform.
One thing that sets us apart from other digital solutions companies is that we don’t claim to know everything about digital transformation. There are too many facets of digital transformation for one entity to master. That’s why we’ve partnered with others who are specialists in their field. These are experts we have vetted and have industry experience and results to back them up. And you can tap into that expertise through our platform.
Whatever digital solution you’re looking for, we have a partner that can help you. So, go ahead and get in touch, and we’ll help you with the right digital resources for business growth, acceleration, and productivity.