Digital transformation, digitalization, embracing digital- does this sound familiar? As a matter of fact, in the present scenario where businesses look to the future, they must embrace going digital to stay ahead & thrive in the global market. Digitally transforming any business improves automation and customer experience and also facilitates better decisions. As the pandemic accelerated digital transformation in every industry, it came with its set of challenges, benefits, and adaption. One of the key differentiating factors of digital transformation is the role of software development services.
Software development is a key for businesses opting for digital transformation quest. Building software befitting business/organization needs is a key to successful digital transformation. Hence, it is fair to say that digital transformation begins with enchanting current systems with software development services. It changed and increased the use, and evolution of apps for communicating, and also collaborating with co-workers & customers to keep businesses viable. During and post-Covid, in the UK, 60% of the employees were working from home, which holds for the rest of the global workforce. Hence company selects the technology equipped with customized software development services that match all-time needs, digital advancement/transformation, and delivers tangible business requirements.
Challenges of Digital Transformation
- Employee push back – By nature, humans like routine and resist change. Experiencing digital transformation is the epitome of discomfort; employees may feel unsecured, erase employee doubt and keep them engaged throughout the process.
- Digital transformation Strategy – Digital transformation journey is for all individuals and departments of the business. Hence whole business enterprise must work with a uniform goal and as a cohesive team. Further, thinking of the customer and their needs keep business alive.
- Untrained staff – The enterprise may not have internal experts; Digital transformation needs a combination of talent and technology. So, it is essential to hire new talent or outsource expertise.
- Legacy dictates new structure – Digital Transformation may substantially change employee routine and reporting, so organizational structure is as fluid as data science, and customer experience needs it.
- Financial resource – The company should have a great financial resource pool. Digital transformation will need investment in the company, people, and customers.
Benefits of Digital Transformation
According to Fortune Business Insights, the Digital transformation Market size is projected to reach USD 3,546.80 billion by 2028, exhibiting a CAGR of 22.1% during the forecast period.
Here we enlist some of the many benefits of digital transformation.
- Resource Management – The most excellent benefit of digital transformation is resource management by any vertical of industry /business. Because various customized software applications developed for business verticals have been compliantly installed, it scales applications to match ever-changing business operation needs. Virtual Technology, containers, and cloud strategies are of immense use.
- Data collection – Digital transformation helps capture comprehensive data businesses can use for better customer experience and understanding.
- Risk management – Digital transformation assists in identifying and prioritizing risks so businesses can decide about the future.
- Global Scope – Digital transformation enables businesses to communicate on a worldwide scale with customers directly. Its cost-effective, fast, and also enhances customer relationships.
- Customer Experience – Digital transformation increases customer experience with digital assets, processes, and products.
- Productivity – Digital transformation automates the business process, reduces costs, errors, and manual work, and hence enhances productivity.
Digital Transformation through Cloud Software Development
“Cloud” denotes servers accessed over the internet by all databases, and software that run on these servers. The cloud servers are located in data centers/hubs all over the world. As a matter of fact, the cloud, in simple words, is the internet; something on the cloud means it’s not on the computer but accessible on the device.
Nowadays, digital transformation & cloud software development services have no separation. Cloud computing adds extra dimensions to Digital transformation, such as Digital technology, complete rebuilding of processes, tools, and virtual environment experience accessible from anywhere at any time.
Stages Of Cloud Software Development Services For Digital Transformation
- Application transformation – The purpose examines whether an existing app can be moved to a new cloud environment. When the company objective is to move all processes to the cloud, the front end, middleware, data storage, and processing are re-architecting. This process does not need much work; the application can be moved and shifted to a new cloud environment with modification of the front end to ensure compatibility.
- Network transformation – Move network components to the cloud. VPN concentrator located on-premise is now obsolete. SDN technology helps dynamic, efficient network configuration, and remote organizations can deploy infrastructure apps. With SDN technology, hybrid and multi-cloud networks can operate on-premise and cloud resources. Hence, the multi-cloud network provides organization control and ownership of data and resources.
- Security transformation – To ensure data security during transformation, adopt data encryption at rest and in transit. Data backup and recovery strategy to be in place to continue business in the event of unforeseen disasters. Henceforth, business needs to set up a Zero Trust policy.
Digital Transformation In Various Industry Verticals
Digital transformation technology innovation is changing and reshaping business models, and ways of operation to meet market trends, and also requirements to remain competitive and agile. IDG reveals more than 89% of industries have implemented the use of digital products.
Digital adaptations in various industrial verticals are as under.
Digital technology in healthcare transformed the industry with benefits such as-
- Daily medication assistance to patients.
- Patients’ health analysis and alerts.
- Reduces infrastructure cost.
- Personal care and enhanced patient care
- Telehealth assistance
- Mobile assistance
- Reduced hospitalization & out-patient numbers
These benefits are attained through customized healthcare software development such as Electronic Health Records, Electronic Medical Records, m-health applications, telehealth software development, telemedicine app development, and a lot more. Further, personalized healthcare services are also in trend with help of digital transformation in healthcare.
Managing in-store & coupled with out-store processes has been the most tedious task for retailers. With a massive number of retailers going through a digital shift owing to demanding customer behavior, custom software development for retailers has been in demand to sustain the digital transition. Some key benefits of software development for retailers include:
- Better supply chain management.
- Automating processes, billing etc.
- Improving customer buying experience.
- Omni channel delivery experience.
- AI implementation.
- Reduced operating cost
- Optimized warehouse accounting
If you are a retail business, and moreover wanting digital transformation, Emorphis Technologies can assist in custom software development services for payment processing, inventory management, and eCommerce software development services. The transformation strategy,, execution and tools implementation can also enhance your retail business.
In banking and financial services, the adoption of digital transformation has been on the cusp. With people moving digital for banking and finances, there is a huge amount of data that needs to be secured as well as should be available when required. This is where financial custom software applications make their way to benefit and also provide convenience to entities involved. Moreover, some of the many benefits of digital transformation in the financial services industry include:
- Reduced/ No paperwork
- Personalized service
- Process automation
- Improve security
- Attracting more digital investors
- Digital and contactless payments
Emorphis Technologies realize the growing demand for digital experience in the financial services industry. Emorphis Technologies is a fintech app development company. We address the financial services industry challenges like legacy systems migration or legacy apps being a challenge to business growth. We also understand fast-changing financial compliances and regulations, hence our fintech app and software development services address the business process automation needs, legacy system/ app migration, and development of custom financial software that works as a backbone for your business.
With all the major industries going through a digital shift, travel and hospitality are not left behind. Whether it is mobile hotel applications or mobile kiosks, smart rooms, or contactless hospitality solutions, the hospitality industry has carved its niche by adapting to innovation. Some benefits of adapting to digital are-
- Online bookings and offers
- AI chatbots to engage customers
- Real-time updates
- Smart rooms equipped with technology
- Virtual reality platform
If you are looking for a safer, better, enhanced hospitality business, Emorphis Technologies offers technical expertise to address your application needs.
Other than the above-mentioned key industries, there are other important industries too, that have undergone digital transformation by adopting new cloud-based software development & innovation techniques.
- Technology helped to practice
- AR/VR 3D models
- Data-driven decisions
- Virtual communication &collaboration
Because of the ease of security and cloud management, the telecom industry moved fast to cloud solutions by transforming hardware into a digital solutions.
This resulted in
- Empowered customers to self-service
- Access management and easy digital identity.
- Agile business models.
Cloud-based Digital Transformation technology such as AI & IoT made the farming process intelligent and profitable, reducing crop losses due to calamities. IoT platform also helps know the status of smart farming attributes to agriculturists.
- Soil composition for crop suitability
- The pH of the soil and its temperature.
- Soil moisture
- Crop plan, yield estimates.
- Irrigation schedule via sensors
- Green House
- Automation for better crop yield.
- Real-time data collection to make farming decisions.
- Data analysis to sort out problems.
Read more about Smart Farming
The Concluding View
According to Fortune Business Insights, the Digital Transformation Market size is projected to reach USD 3,546.80 billion by 2028, exhibiting a CAGR of 22.1% during the forecast period.
With all the major industries opting for digital innovation in every walk of life and moreover every business vertical, digital technology has become the second nature of every person, and custom software development to facilitate digital transformation has become the need of the hour.
Furthermore, as businesses need to survive and foster growth, Emorphis Technologies unlocks new opportunities and possibilities through custom software development services for various industry verticals. Whether it is healthcare software development services or Fintech mobile applications, software integrations to a legacy system, or CRM implementation services for the transformation we have covered you with our technical expertise.