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What is Digital Transformation?

What is Digital Transformation?

Digital transformation goes beyond moving paperwork to a digital environment, it refers to a company’s transition to a fully digitalised experience for both customers and employees. Workflows become an integrated part of an online process, allowing customers to easily access and interact with a business and then allowing employees to more efficiently manage data and related tasks.

Digital transformation vs. Digitalisation vs. Digitisation.

Although sometimes used interchangeably, each refers to a very different process in a company’s journey to a fully digital experience

  • Digitisation
    Converting analog files and data to digital assets. For example, creating PDFs from paper forms.
  • Digitalisation
    Using technology with existing digital assets for efficient, automated workflows. For example, implementing a digital solution for managing files or customer relationships.
  • Digital Transformation
    Changing all elements of multiple workflows to digital processes that are more secure and positive for customers, but also more organised and efficient for employees.

Why are companies choosing digital transformation?

The reasons behind the move towards digital transformation stem from the basic need to continue to modernise to stay competitive. However, there are several factors unique to the current situation that have illustrated the need for businesses to accelerate their adoption of digital workflows in both the customer-facing and internal experience.

  • ‍Information-based economy
    ‍
    Today’s economy centres around information and widespread access to online resources. Customers have come to expect immediate answers and to be able to find what they need in the digital space. This applies across the board: from health and education to business and finance.‍
  • Changing customer expectations
    These expectations have also had an impact on the way companies interact with their customers. Customers today expect simple, clear interfaces that allow them to quickly complete previously complex analogue processes. Digital solutions that provide a streamlined experience give those companies a clear benefit in meeting customer needs.‍
  • The covid-19 pandemic
    The pandemic significantly accelerated the adoption of digital processes by customers, which in turn required businesses to provide online solutions faster or struggle to survive in a world that suddenly limited more direct interaction. Companies that had already begun their digital transformation had a clear advantage.

Why move towards digital transformation?

Industry experts predict that the accelerated rate of adoption of digital solutions to improve both internal and external processes and experiences will not slow down, meaning that businesses will need to continue to improve their digital offerings in order to stay competitive to both customers and potential hires.

  • ‍Stay competitive
    Many businesses began the digital transformation process well before the pandemic. Many others expedited their move to the digital space once it became clear that the pandemic would continue longer than expected. Today, businesses that have not yet started the process or are in the beginning stages have realised that they’re far behind some competitors.‍
  • Increase process efficiency
    When processes have a positive impact on the cost of your workflows, to the extent that even the required full-time personnel required can be reduced, this is a clear benefit of pursuing digital transformation. Many solutions also provide a more organised, easily managed approach to data as well as enhanced security measures for both the customers and business.
  • ‍Improve user experience
    More efficient processes often translate to better experiences overall. Both internal employee workflows as well as external customer-facing experience can be optimised with the right digital solutions. Gather and manage only the necessary information and provide a faster, more tailored solution to customers.

Digital Transformation with Taktikal

Solutions such as Taktikal make it possible to quickly and easily implement digital processes that will immediately transform workflows. Choose only certain functions to simplify user authentication or build custom questionnaires.

‍

11K+

Government-issued
IDs supported

3 MINUTES

Customers have shortened their application process from 2 days to 3 minutes

98%

Up to 98% faster KYC and customer onboarding

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With best regards,
Valur Thor Gunnarsson
CEO & Co-founder
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