We are in an era dominated by mobile devices, cloud computing, smart analytics and the Internet of Things (basically, everything is automated) and, because of this, digitizing processes and procedures is becoming increasingly important. We’re guessing that, while you’re reading this, you’re also checking your emails on your cell phone, managing work projects from your tablet and have some sort of news site up in a separate tab on your laptop or desktop. It’s also possible that one of those devices is playing Netflix or displaying your Facebook feed (and you've just sent a Snapchat), but we won’t tell. Society has gone digital, and the rise of digital technology has caused a dramatic shift in how businesses have and need to adopt new and emerging technologies in order to meet the changing needs of today’s consumers and demonstrate the value of the services they offer.
This is all part of the rapidly growing trend of digital disruption that we've been seeing all over social media. Digital disruption provides an opportunity for businesses to look at how they are using technology, and how they can use it differently to enhance their business practices. What are the benefits for you as an executive, manager or associate looking to streamline in 2018 and beyond? Turn off the Netflix and read on!
Creating and demonstrating value: In cases such as digital disruption, it pays to jump on the bandwagon and not ignore the transformation that is taking place in their industry. In fact, companies that are committed to old business models are more often being pushed out of business by younger, more agile and more tech-savvy companies. Companies that implement new, digital technology often see a higher return on investment than companies that continue to invest in their old, legacy systems that are no longer conducive to the changing technological landscape and the evolving needs of today’s consumers who are turning to the latest and greatest, like Amazon.
Reduced costs in the long-run: While the upfront cost of new technology may seem high, the cost benefits often outweigh the initial price tag. Additionally, a company that is continuing to advance also can take the initiative to keep costs lower for consumers, as strategically implemented technology allows companies to reduce operational costs and manage business processes and procedures more efficiently.
Better utilize data and information: Finally, the adoption of new digital technologies allows companies to do more with the information that wasn’t being utilized with legacy systems. Whether it’s structured or unstructured data, automated systems, such as a document management solution, helps companies take advantage with the data streaming into their organization to make more data-driven business decisions.
Whether your document management processes and procedures have changed dramatically or only slightly from the manual ways of the past, digital disruption offers an opportunity for companies to look at the ways that they manage this information differently. How is your company being disruptive and making a dramatic difference in the ways that it manages data and meets the needs of consumers?