In the past digital technology could be considered as a separate and somewhat unique function. Digital technology was mainly used for traditional IT, governance or risk and compliance. However, lately, we have seen digital technology mesh and collide with traditional forms of technology in fascinating ways leading to new ideas and innovation.
As well as this, it’s starting to become apparent that digital technology is not just useful for traditional IT or other industries where it has always been apparent. Instead, the combination of digital and mainstream tech has ensured that it has become a vital part of various different business models from logistics to manufacturing as well as traditional office environments. The divergence of digital and technology is leading to innovation in every industry and has already brought some incredible advancements.
The combination of digital of technology has brought the development of automation and automated solutions for business owners. Indeed, many of the typical jobs associated with employees can now be completed through automated software that is implemented on a computer network. Invoicing is a great example of this type of automation. In the past, businesses needed to hire an accountant to complete invoices. These days, everything can be streamlined in a business model and invoices can be completed automatically through digital technology.
It’s also worth pointing out that rather than using printed copies for invoices, everything can be paperless. These two changes brought by an increased reliance on digital technology allow typical business processes to be completed in a more effective and efficient manner to the point where the money saved can be spent in other areas of the business model.
Automation is becoming a major aspect of a number of different business models. In factories, it may soon be possible for entire processes to be run by a single individual. For factory owners, this is going to radically reinvent the business model in industries like manufacturing. As well as limiting costs it will greatly lower the risks involved in industries like this and again boost levels of efficiency.
Keeping Things Connected
The divergence of digital technology and physical tech is also allowing businesses to become more connected and has lead to a every industry operating on a globalised field. An example of this type of change in a local arena can be seen in manufacturing. Through digital technology, businesses can store information about their stock, production schedule and inventory online. They can then use this information to share it with other areas of the business and outsiders keeping everyone on the same page.
The digital software can be accessed through mobile devices, ensuring that business owners and managers can operate away from the home base of the business. This innovation allows for business industries like manufacturing to become more efficient while staying flexible. It’s just one example of how this combination of digital and physical tech is leading to a more connected business model.
Businesses can also connect with other companies worldwide, gaining access to the global market. Using online digital cloud servers, businesses can use physical tech to store data in New York and access it online instantly in London. The innovative use of digital tech here has allowed for businesses to expand and evolve internationally, both online and offline.
Due to this level of connection, businesses have also gained fresh possibilities of how to run their business. Rather than choosing to use a typical established business model, owners can run their companies from home using digital tech combined with physical tech to provide the tools they need to still have an impact on the market. Cloud servers and other digital software technology allows for businesses to hire freelancers and to create a team that is connected virtually but could be operating in completely different locations.
The Digital Transformation
The development of digital tech that meshes with typical forms of technology has lead to a digital transformation of the business world and the perfect environment for innovation. This digital transformation is leading to changes in the business model in numerous ways, starting with technology disruptions.
Businesses are moving away from legacy systems and towards digital solutions like cloud servers, IoT and big data. They are bringing great value to businesses, allowing them to shift towards a new model where costs are cut down, and everything is moving at a more rapid pace.
Through digital transformation, business owners are able to provide customers with new user experiences and a faster turnaround of service. They are able to use the technology to increase the capabilities of their company. Customers expect products and services to be available instantly and using digital tech, companies can respond and commit to this idea.
Digital solutions are certainly becoming more apparent in the marketing industry with digital software combined with mobile tech being used to reshape companies. A fantastic example of this would be a recent Ben & Jerry’s Ice Cream campaign. The company aimed to introduce new flavors into their business model for production. To do this, they asked people to vote for different ingredients online in different locations. As well as promoting this campaign online, the business offered a real-world promotion that customers could interact with using the technology in their pockets. This example clearly highlights how the combination of digital and traditional tech can take a business in a bold new direction.
If one were to ask for a key way this digital transformation could lead to greater levels of innovation, the answer would be simple. An increase in digital technology leads to more advanced levels of open information. Using the latest tech, business owners have a greater access to information and knowledge than ever before. It is often noted that information does fuel creativity and information technology was designed to stimulate knowledge.
Of course, we could also examine the workers within the company. Workers who feel connected to a business are going to be more determined to improve that particular company. Digital technology combined with physical tech helps employers engage with their employees through telecommunication and ensures that each individual employee feels as though they are part of the business. As such, it will drive innovation and push businesses into the future based on the determination of the workers behind the company.
It is clear then that the divergence of digital and technology will lead to a greater level of innovation for business as the combined tech improves the company model in a variety of incredible ways by forming one function, rather than operating separately in a business model.