You only need to cast your mind back ten years to realize what a huge impact digitalization has had on the world. For example, Google Chrome didn’t exist, nor did the iPad, or Kickstarter (the platform that helps to crowdfund independent startups). But what impact will digital transformation have on business processes specifically? Well, here are a few ways you can expect to see major changes thanks to technological advancements.
Staffing & Recruitment
If you’re hiring staff, you’ll quickly realize what a time-consuming – and therefore expensive – process it is. Thankfully, advancements in technology are transforming the way businesses recruit, meaning they no longer need to pay high fees to specialist recruitment firms or spend hours reading résumés.
Instead, recruitment software can help businesses to create targeted job adverts, disseminate job adverts online, sync vacancies with the business’s social media accounts and then review and organize the submissions that are returned. From finding workers, filling positions and conducting the entire onboarding processes, this digital advancement is changing business processes for the better.
[pullquote]Businesses can be relieved of labor and time-intensive processes by taking advantage of the advancements in technology.[/pullquote] For example, good quality accounting software can relieve finance departments of arduous tasks and assist with forecasting, analysis, and calculations, freeing them up to use their time in other ways to boost the profitability of the business.
Even small but frequent tasks – such as completing checks to pay vendors and employees – can be synced up with high-quality accounting software (checkbooks like these do precisely that, for example) – saving businesses hundreds of hours a year on administrative tasks that were previously inefficient and had an increased potential for human error.
In the past 50 years, businesses have conducted annual performance reviews for their workers, analyzing employees’ performance and the impact they’ve had on the business. But, this paper-based, once-yearly model is fast becoming outdated. Thankfully, digital advancements are well on the way to transforming this process too, with performance review technology ensuring that businesses can monitor and measure their employees’ performance in real time throughout the year.
Reviews can be connected to specific tasks and objectives, and the results can be held in a centralized place, keeping track of dates, feedback and targets. As a result, reviews are more accurate, more useful to the businesses and more empowering for every employee – particularly those who aren’t proficient and don’t vocalize their achievements on an annual basis.
[pullquote]Digital advancements will have a significant impact on the way businesses operate with their customers too.[/pullquote] For instance, we’re already seeing businesses using instant messaging services to answer questions, solve problems and respond to customers’ queries, all of which could feasibly contribute to a strengthened sense of loyalty or better reputation.
But businesses can also use digital transformations to inform the way they design, produce or invest in products and services for their customers. For example, a customer might buy a home appliance that contains a microchip which then feeds information to the business, reporting on fault codes or the most frequently used programs in a household – offering invaluable knowledge to product development teams.
As you can see, digital transformation can have a serious impact on business processes – for the better.
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