As business professionals, we’re wired to embrace potential and opportunity, particularly if the end results see you swimming in profitability, sustainability and influence.
So why aren’t we taking our businesses digital?
With myriad opportunities to engage and serve a buzzing and bustling global community, the term “slow to change,” doesn’t make sense. Curious also it is to read that a MIT and CapGemini Study estimated 65% of companies are rated as “Beginners” in terms of digital business maturity. In that same report, Starbuck’s Chief Digital Officer, Adam Brotman lent this striking truth about their free in-store Wi-Fi initiative, “we were doing something innovative around how we were connecting with customers.”
“Connecting with customers.” Now that is the ultimate bridge to posterity. But if your business needs a significant digital growth spurt, that phrase alone won’t cut it especially if leaders are hesitant to plunge into our coded future.
What you need are these 3 talking points that will pique the interest of even the most paper-amorous individual.
Stop Bleeding Cash
Do your business leaders understand the sheer financial weight of paper and analogue processes? MIT’s Center for Digital Business and Capgemini reveal that Digital “beginners” suffer a 24% lapse in profitability while the “Digirati” celebrate a 26% boost. Why miss out on this? Off the top of my head, I can think of a few key areas that 86 your growth potential:
- Overnight Costs – Alongside the time dedicated to organizing and printing trees’ worth of contracts or other vital documents, you may have to resend entire packets or single pages just to move a transaction forward.
- Human Hours – One piece of paper could cost your business hours of man power that could have been better invested in a revenue-generating project. Likewise, why waste your professional talent on managing high-volume and high-stress documents? Let your talent make their promised impact instead of burning out with all the paper. You’ll otherwise finance a high turnover rate.
- Jeopardized Growth – The paper and ink signature scramble can sadly sour deals. There needn’t be more said on this.
True, the digital transition may feel like an investment, but once locked and loaded, digital businesses stand to enjoy a continual boost in profitability.
Prioritize the Prospect -> Grow the Business
We’re a digital people, no way around it. So if a lack of digital urgency floats about your office, wave the red flags: a business is only as successful as its customers.
- Tailor digital solutions to their needs –If it fits into the prospect’s lifestyle, your chosen digital strategy – like mobile apps that store data – will reap revenue.
- Always Keep it Simple and Secure – Industries like insurance and healthcare depend upon ease of use and security. Prioritize measures upfront; recent breaches and hacks wouldn’t do anyone any good.
It just makes sense to structure your business services to optimize convenience. But don’t just end with paperless business.
A Happier and More Productive Team
Whether you’re a collective of teams or a 10-man powerhouse, employees sign on to work with each other, not paper. Robotic automation is often a common misconception about digital business. But how is babysitting paper-based documents conducive to interpersonal creativity? In annihilating paper-based processes, teams are reunited with the goal of adding creative value where it counts – strategies for growth and development.
To add a final punch to my call for digital action, I must impress that time is scarce. With so many ideas to realize and innovations to launch, let’s not let paper get in the way of setting the scene for this century’s business legacy.
Ready? Share how you'll take your business digital in the comments below.
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