#3 Debunking myths: a digital company

The digital age is for everyone. Technology and its impact on our lives depends on our ability to adapt to it. At present, the use of electronic devices, tablets and PCs with internet access is extremely common. That is why many companies around the world operate digitally or combine digital in a hybrid modality. 

The internet facilitates the development of digital commerce, but even so, there are still certain myths around digital transformation in organizations, false beliefs that lead to mistakes and delays in the business world. We have it clear: a digital company is the present and the future. Next, we will explain the myths behind this concept. 

A digital company

In recent years, companies around the world are experiencing a constant revolution when it comes to the digital world. Business processes, product launch and creation, customer acquisition and loyalty have changed in the new paradigm of a digital economy. Non-face-to-face purchases and payments are the novelty of the moment. The growth rate of this business model is for everyone, not just large organizations. 

The percentage of Internet users has grown exponentially, leading to important changes in consumer behavior. Two significant aspects that have influenced the digital advancement in companies are: 

1. Technological advances in artificial intelligence, internet of things (IoT) and big data, among others. 

2. Constant changes in consumer habits, where the population has a longer life expectancy, more concern about privacy and environmental responsibility of the brands they consume. 

Accelerating adaptation to the digital change is essential to guarantee the survival of a business and, for this, there are some key steps that can make this change process easier and faster: 

1. Understand what digital change involves, what is going to be implemented, its phases, the departments involved, etc., and learn the many benefits of adopting a digital business model as soon as possible. 

2. Choose a global digital solution that is perfectly adapted to the needs of the company and the digital skills of its human team. 

3. Offer training support to employees. 

Debunking myths about the digital enterprise 

With the rise of digital companies and the great technological advance that society has experienced in the last year, digital transformation has more prominence than ever. Around this concept we find discussions and beliefs that can confuse organizations that wish to adapt to current needs. 

To answer all these unknowns, we analyze the top 5 myths related to digital business. Knowing the truth, will help you to quash the barriers or fears that prevent you from taking the next step and achieving success by implementing digital projects that add value to your business: 

Myth 1. Technology reduces jobs 

FALSE. This false belief arises from the idea that technology replaces humans in tasks that were once performed manually. Although to some extent this may be the case, machines do not replace people, but rather speed up work by giving them the possibility to invest their time in tasks that require human intervention. Thus, technology does not reduce jobs, but rather ensures that companies better adapt to the digital age, increase their productivity and generate new job offers linked to their current needs and changing market demands. 

Myth 2. Digital transformation requires a big investment of money 

FALSE. It is believed that digital transformation is only available to large companies due to the large investment involved in getting started. Nothing could be further from the truth, since the change is not necessarily linked to higher economic spending. Digitization is a process that can begin with a technological change, but one that directly affects the entire organization and that results in important benefits. In addition, investing in digital transformation should be considered profitable, since it usually involves cost savings in the medium / long term. 

Myth 3. Digital transformation has no tangible value 

FALSE. The implementation of a digital transformation strategy must impact on real metrics: revenue, costs, margins, customer interaction, retention and, consequently, impact the business in a positive way. Therefore, this myth is totally false because the actions have monitoring, reports and KPIs that show whether or not the objectives are being met.

Myth 4. Technology is key to digital transformation 

FALSE. Sure, having the right technology and resources is important, but it’s not everything. To achieve a 100% digital company, it is necessary to dedicate time to the workers, the culture and the organizational structure, since this will achieve the differential value in any digital transformation. It is essential to train employees, generate new skills and roles, create a culture of openness to change and be aware of how competition is advancing in this digital field. 

Myth 5. Digital companies only make short-term profits. 

FALSE. The current health crisis has shown that launching digital projects and initiatives in the short term generates benefits and increases the possibilities of obtaining profits in the short and mid-term. But digital transformation is a long, learning process in which all progress will have a transversal impact on the company. Therefore, a well-implemented digital process will generate greater benefits and impact real metrics. 

Join the change, join the digital transformation 

To start the adaptation process to digital transformation, it is essential that all members of the company understand what the digital change will consist of and, very importantly, the benefits that it will bring and the economic and competitive objectives. 

Once the decision to start digital transformation has been made, the next step is choosing an automation platform. This is one of the reasons that explains the resistance to digital change, which is that some solutions and IT suites on the market are too complicated. Of course, each company must choose the solution that best suits their needs and that helps them improve their level of competitiveness. Today there are excellent platforms that combine high technology with ease of use, digital solutions that are easily integrated into the uses and customs of each human team. 

This is the case of AuraQuantic, an enterprise software platform that allows executing the processes that organizations want to automate without the need for additional programming, however complex the processes may be. In addition, it combines different advanced technologies that help companies drive hyper-automation, such as: forms, to achieve a better user experience; a multitude of automations, available to give power to the application; data, files and documents, to range from complete document management to master data through database structure or artificial intelligence, to guide the user and increase their productivity by leveraging the latest technologies on the market, among others. Most importantly, this comes with the maximum security controls that guarantee the privacy of devices and data. 

Digital transformation leads to improvements in organizations, from creating new markets, products and services to increasing added value. In short, digital companies are much faster, more competitive and agile, but for them to succeed they must have the right platform that guarantees the achievement of the business objectives. If you need more information on how to start the digital transformation process in your company, contact us and we will be happy to guide you through the process. 

Jessica Mauro
jessica.mauro@auraquantic.com