Digital Transformation: A Corporate Coronavirus Survival Strategy

Posted by EOX Vantage on Apr 9, 2020 12:45:00 PM

The coronavirus pandemic is squeezing economies from local to global. Businesses are in free fall; unemployment is rampant; we’re all wondering how deep a recession might be and when the effects of social distancing, stay at home orders and other restrictions will end and where they will leave us.

Digital Transformation: A Corporate Coronavirus Survival Strategy

Businesses need to be efficient to be able to fight through and survive the coming months. Digital Transformation is a strategy most companies should consider to create efficiencies and stay operational. We’d like to outline how Digital Transformation can help organizations during these trying times.

First, let’s define Digital Transformation. An article by our CEO provides an excellent introduction. To summarize, the concept as practiced by EOX Vantage involves digitizing paper-based processes, eliminating data silos and using the resulting data to amplify efficiencies and enable visibility and control of the business.

Here are three reasons to embrace Digital Transformation in our current virus-intensive environment:

  1. Resource reallocation – When processes are digitized, workers have time freed up to do other things that are more valuable and beneficial to the business and its customers. Many hours can be saved by eliminating the receiving of paperwork, transferring the data to spreadsheets or systems, filing, etc. Those hours can then be better spent in other activities and tasks that give a much greater return on investment—such as focusing more on customer-facing efforts.
  2. Amplifying efficiency to stay competitive – A reeling economy with struggling businesses means it’s more critical than ever to be lean and streamlined. Digital Transformation puts data to work for you so that leaders can make better informed decisions fueled by real-time information from across the whole enterprise. Actionable and transparent data make possible speedier and more agile pivots to quickly clear up issues, ensure smooth operations and keep clients satisfied. Digitization and digitized data make it much easier to cut out clunky practices, fill in gaps where needed and improve productivity.Digitization increases productivity and decreases errors.
  3. Optimizing for the remote work trend – Nobody knows for sure, but some have theorized—and it seems reasonable to assume—that when this giant-scale experiment of millions of people working remotely is over, more workers than ever before will continue having the opportunity to do their work from home at least part of the time. Some positions are already quite remote-ready, while other positions could be made more remote-capable by eliminating paper. Paper-based work implies file cabinets and the necessity of being at the office to physically touch paperwork, while Digital Transformation enables a virtual workplace. Creating a digital business environment is getting more crucial by the day, and the trend will probably continue after the current crisis is under control.

Speaking of remote work, please keep in mind our special offer for the TeamedUp 2020 suite of collaboration and communication tools. Get for free the full-functionality of four essential apps from our Enterprise Operating System—Chat, Integrated Mail, Announcements and CRM—that help keep remote workers connected and working together.

Finally, if you’re interested in finding out more about Digital Transformation, please sign up for our free webinar series focusing on the topic. We hold a session every other month, and recordings are available for review of any that you have missed.

April Digital Transformation Webinar - The Steps to Digitizing Your Processes

Topics: Digital Transformation