Life as we know it has changed as soon as we moved online. More precisely, when the internet became an integral part of our existence, our lives became inevitably intertwined with all things digital, and businesses had to keep up or step aside. Now more than ever, digital transformation has become exceptionally complex, enabling companies to completely change how they operate, how people communicate, and how people purchase goods and services. As for big companies and the largest possible corporations, digital transformation has been as liberating as it has been challenging.
Thanks to comprehensive IT solutions paired with advanced software, big businesses now have the ability to expand their reach even further while preserving their resources and keeping their investments under control. Here are a few ways in which digital tools and solutions have enabled companies to overcome their problems and enter a new era of growth.
AI in the service of fintech
Artificial intelligence (or AI for short) has been around for quite a while now, but some companies have yet to discover its complex potential for business growth, smarter decision-making, data-driven problem-solving, and many other processes. As for AI in the world of fintech, it is predominantly used to help with unbiased data analytics for better forecasting that reduces, if not eliminates risk from the entire process and helps fintech businesses make smarter investments.
AI saves time, energy, and a slew of other resources for companies to provide insights that would otherwise take months to obtain, by which time they would be mostly redundant, considering how fast trends change.
Digital trends in the world of big industries
We’re already fully accustomed to making online purchases, and the trend has only grown during the pandemic as more companies needed to shift from traditional, in-store sales, to their digital outlets. Even before the pandemic, certain niches such as the oil and gas industry, have been difficult to imagine fitting into the online realm, but they’ve managed to surprise us and surpass all of our expectations.
For some industries, this has been a major leap forward, so now you can find new oilfield equipment online and make large-scale purchases for parts that will redefine major oil and gas processes. This means that companies moving into online sales can now serve a global market and improve their reach over time.
Instant communication for better customer service
Customers are busy and they have no time to waste. Plus, if there’s a brand out there willing and equipped to respond right away, they’ll likely trust that brand with their needs moving forward. Thanks to a slew of digital outlets, from your email, social platforms, all the way to your own website, digital transformation has enabled better interactions for you and your customers.
One of the most popular ways customers like to communicate with brands is via IM applications, the likes of Messenger, where your brand comes to life through the use of more than just language. However, more big brands are looking into making their own dedicated apps, allowing another direct channel of communication for their most loyal customers.
Automation for all
Truth be told, automation started out as a costly endeavor reserved for massive corporations. Today, it’s widely available and cost-effective, making it far more applicable for companies of all sizes, but equally potent for big and small players alike.
That said, big businesses such as fintech companies, ecommerce brands, and the like, all benefit from automation across the board. Automating payments and security protocols allows for more time for hands-on interaction. Automated employee payments, automated vendor agreements, generated reports based on website analytics – it all helps companies move towards a streamlined workflow and a more human-centric mindset.
Influencers for humanizing big brands
One of the greatest drawbacks of running a corporation is its lack of human touch. It can be extremely difficult to mimic the same intimate, warm look and feel of a small, family-operated business, and thus more of your customers might not feel as valued, but rather as just another number on a receipt. To enable a closer interaction and a more humanized experience, corporations now have influencers as their disposal.
These popular people across various social media networks use their presence to promote brands that are near and dear to them. If you want to reach a wider demographic and make an impact, influencer collaborations make the most sense. They become a voice for your business and a powerful image-builder for your humanized brand.
Digital transformation is still in its infancy, and we have yet to see the extent to which businesses will be affected by all the changes coming our way. You have the opportunity to boost your productivity and to provide a more seamless experience to your customers with the help of cutting-edge technology and digital solutions, so use them to your advantage to make a greater impact in your industry.
Mike Johnston is an avid blogging enthusiast and experienced content writer with a focus in business, technology, entrepreneurship, and real estate.