Digital transformation is one of the most viable strategies to accelerate business activities, processes, competencies and models, and to fully leverage the opportunities available through digital technology. Successful companies are leveraging digital transformation to become more customer-centric while enhancing their operational processes to accommodate new customer behavior. 77 % of businesses state that digital transformation is their first strategic priority.
However, digital transformation is also the ultimate challenge for the majority of modern businesses since it requires business leaders to constantly re-invent their organizations and invest in people, technology, systems and processes. The recent study revealed that the main drivers of digital transformation are “profitability, customer satisfaction, and increased speed-to-market”.
To succeed at digital transformation, businesses have to create a good digital customer experience (DCX), adjust and automate operational processes, and adopt and use innovative technology. Approximately 57% of top executives define customer services as their number one digital transformation objective. Companies are becoming more agile in order to be able to respond quickly to the opportunities and challenges which is an important step in the digital transformation. According to Gartner, 30% of organizations that are either in the beginning or in the midst of digital transformation initiatives will succeed.
Companies that have embraced digital transformation are 26% more profitable than their average industry competitors are and enjoy a 12% higher market valuation. In order to ensure ‘painless’ and cost effective transformation, there are approaches and innovations that business can implement, such as CRM combined with BPM technology.
The experts are emphasizing the benefits of combining CRM and BPM technologies, pointing to the importance of incorporating business process management at every stage of the customer journey. Forrester estimates the global BPM market to grow from $4.4 billion in 2012 to $7.6 billion in 2016.
That said, businesses empowered by CRM with a robust BPM engine would be able to change processes on the fly, deliver an exceptional customer experience and gain competitive advantage. To help businesses transform efficiently, we outlined the roadmap to mastering the digital transformation with the help of CRM and agile BPM technology in our eBook. Have a look!
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