5 Advantages of Digital Transformation
Businesses have been aided by technologies that helped them deliver better, faster, and cheaper products and services. Digital transformation refers to the leveraging of modern, cloud-based technologies to transform a company’s work and IT environments for the betterment of that business. Numerous technological advancements have played crucial roles in transforming businesses over time. COVID-19 Moves the IT Industry into A New Era. Here are 5 advantages and benefits of digital business transformation:
1. Optimizing data for analysis to make better decision
The benefit of collecting data is optimizing it for analysis to drive the business forward. The technology available to handle the big data for analysis in real time.The different functional units within an organization can translate raw data into insights. You can have a better understanding on your customer and their needs and create a business strategy that is even more customer-centric. Data is knowledge, and knowledge leads to better decisions.
Companies in the top third of their industry in the use of data-driven decision making were, on average, 5% more productive and 6% more profitable than their competitors.
2. Improved productivity and efficiency
Dealing with physical documents slows down your team, since your employee has to physically access the records storage. If it has been misfiled or lost by human error, you can imagine how much it takes to look for a record.
You could cut down the record retrieval process time by having digital solutions for your company. Everything is stored in an easy-to-find place. Accessing each file is instantaneous. You can free up your employees to do more important things.
Having the right tech. tools that work together can streamline workflow and improve productivity. By automating many manual tasks and integrating data throughout the organization, it empowers team members to work more efficiently.
3. Better Operating Model
A lot of companies with new lines of business open up through the integration of digital strategy. Take brick and mortar businesses, for example. Adding a reliable ERP system that tracks inventory and sales opens the door to better and more reliable eCommerce channels, aiding in the growth and optimization of your company’s reach. Learn more ERP trends for 2021
4. Increased profits
Gartner reports that more than 66% of companies say they are competing mostly on customer experience. Accenture reports that even a single point increase in customer experience (CX) scores can results in millions of dollars in annual growth. Companies that undergo digital transformation improve efficiency and profitability. Consider these results reported by the SAP Center for Business Insights and Oxford Economics:
- 80% of organizations that have completed digital transformation report increased profits.
- 85% say they have increased their market share.
- On average, leaders expect 23% higher revenue growth than competitors.
5. Architect of social distancing
The global health emergency has also made structural changes to cities to make them more functional for eradicating the virus.
According to the Guardian post, touchless technology could come to play a major role since 80% of infectious diseases could be transmitted by touching polluted surfaces. Research carried out by the Electronic Transactions Association shows that, as of April, 27% of small businesses surveyed have seen an increase in payments made using smartphones or contactless cards and, in addition, according to Statista, it is estimated that around 11 million US households will have scanned a QR code in 2020.
Digital transformation has become a buzzword for organizations these days. The world has gone digital. Are your businesses ready to revel in the era of digitization? MAY Planning has strong experience on integration of digital technology into all areas of a business. We will be pleased to provide consulting service for your company in Hong Kong or overseas, please feel free to contact us anytime.
SAP For 2021 – Analytics Cloud & Cloud Computing
SAP is Systems, Applications and Products in data processing. SAP, by definition, is also the name of the ERP (Enterprise Resource Planning) software as well as the name of the company. Online business company understanding the CRM system will be vital to maintain high traffic of sales. If you are running a retail, you must have a better understand on how to interact with your SAP strategy.
SAP Analytics Cloud
Statistics Will Become Even More Vital. It delivers powerful insights driven by machine learning for customers around the globe.
The SAP analytics cloud solution combines BI, augmented and predictive analytics, and planning capabilities into one cloud environment. As the analytics layer of SAP’s Business Technology Platform, it supports advanced analytics enterprise-wide.
The global cloud analytics market size is expected to grow from USD 23.2 billion in 2020 to USD 65.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 23.0% during the forecast period.
Cloud computing stands for processing, managing and storing a network in remote servers hosted through the internet, without direct active management by the user. Customers can access their data and applications anywhere, anytime, and any device. You only pay for what you use with the cloud. It helps your company save the unnecessary cost that you never going to use.
3 types of Cloud Deployment:
1. Public Cloud
2. Private Cloud
3. Hybrid Cloud
MAY Planning provides professional consulting services to meet your expectations. With our SAP solutions, software updates, and renewals are taken care by our expert team. We will be pleased to provide guidance for your company in Hong Kong or overseas, feel free to contact us anytime.
Big Data, Cloud, and the future of SAP
Looking back on the performance and business novelties of the past year goes hand in hand with preparing for new challenges that lie ahead.
The SAP ecosystem continued to boom with launches, news and trends. In a nutshell, 2017 proved to be another strong year for SAP, fueled by revenues from its Cloud business – and the outlook for 2018 is even brighter. SAP Leonardo will push growth, the company’s digital innovation system which includes all things related to SAP’s Cloud platform, such as Internet of Things (IoT), Machine Learning, Analytics, Big Data, Design Thinking and blockchain. SAP committed €2 billion ($2.2 billion, £1.7billion) to IoT over the next five years which certainly shines a light on where talent can look to remain competitive and actively work to bridge any skillset gaps.
SAP is looking to not only help businesses innovate, but also scale their existing businesses. SAP is even investing in startups through their SAP.IO fund – focusing on Artificial Intelligence (AI), Machine Learning and blockchain technologies, specifically. Under the initiative, it operates a foundry that runs accelerators in partnership with Techstars – the largest startup accelerator program in the world, while the fund independently invests in startups.
In fact, more and more companies are seeing the importance of adopting cloud services. Gartner predicts that by 2021, 28% of all IT spending will be for cloud-based infrastructure, middleware, application and business process services. See below, a breakdown of the Compound Annual Growth Rates (CAGRs) by category:
It’s no surprise then that tech skills, such as developers, systems analysts and data specialists, including those for HANA, will continue to be in demand during 2018 and beyond. The amount of information people have to process continues to increase and the ability to manage it effectively can be overwhelming. This is why big data and being able to automate the identification of data patterns and drawing conclusions from those patterns continues to be a skillset in high demand.
At MAY Planning, our entire focus is on matching the right talent with the right SAP career opportunity. We continually look to provide the foresight needed to keep our talent pool competitive and prepared to capitalize on the opportunities SAP is paving the way for – in both the near- and long-term.
Interested in learning more? Send us an email to email@example.com.