6 reasons why digital business transformation is essential in 2021
Mónica Fustes
Digital transformation trends affect and influence our day-to-day lives on a fundamental level. We rely on technology daily without giving it much thought—from that video call with a loved one to the app used to order lunch. For companies, however, 2020 put the myriad advantages to digital business transformation in sharp relief.
As a result of COVID-19, 93.5% of companies are interested in accelerating the digitalisation of work processes, according to the World Economic Forum’s Future of Jobs Report 2020. Companies have learned that digitalising processes at scale is fundamental to staying competitive, efficient, and meeting increasing demands. This can be attributed to the fact that digital transformation technologies and trends have been absolutely essential to remote work. Improved procedures and operational efficiency in a digital workplace are central benefits to the digitalisation of business processes.
It is estimated that in 2021, 40% of the GDP of the European Union will come from technological activities, and that for every five non-digital new jobs created, there will be four digital jobs created. Companies that do not begin to shift focus towards integrating digital strategies into their business model, and investing in digitalisation tools, will very likely get left behind.
In this line, 85% of Spanish companies think the hybrid cloud model is the way to go. Due to the effects of the pandemic, “47% of Spanish organisations expect to have implemented a hybrid or multicloud model in the next five years,” as opposed to the mere 13% that are currently relying on such a framework. A hybrid cloud involves “a mixed computing, storage, and services environment made up of on-premise infrastructure, private cloud services, and a public cloud—like Microsoft Azure—with orchestration among the various platforms.” This is the future of digital business transformation.
Digitalisation can improve the way you operate internally, interact with vendors, or contact clients, and is not dependent on industry or company size. Ways to help this process along include planning, education, exploring trends in enterprise software and employing digital tools across all departments.
Here are 6 reasons why businesses should start thinking digital in 2021:
1. Better online visibility
Having an online presence has helped many companies stay relevant and active over the past year in the face of challenges presented by the pandemic and growing market competition. In fact, 65% of entrepreneurs believe the habits of their users have changed, preferring engaging online to in person. Since most potential clients look at a company online before doing business (to ensure they are viable and trustworthy), many companies are investing in improving their online presence. 2021 is the time to create or update an outdated website, better manage your social networks and put more time and effort into quality content.
2. Improved client experience
The profile of users is increasingly technological, and companies need to harness that power to attract and retain customers. One clear advantage to digital business transformation is that it can greatly improve the client experience for the digital-savvy consumer. Transforming internal operations is one way to increase the efficiency of your business and ultimately improve the service you offer clients. Being able to digitally sign different types of documents quickly, easily and remotely, or send invoices electronically and get paid faster, represents a better way of doing business. Companies can enhance customer satisfaction and loyalty by making things easier and more streamlined.
3. Automate!
More and more companies across different industries are exploring the benefits of automation software. In fact, “57% of organisations say they are at least piloting automation of processes in one or more business units or functions.” Digital process automation offers increased collaboration and integration between business areas, reduced human error, more time for value added tasks, greater scale up capacity, plus other benefits. In this line, APIs are essential to driving business automation. An API mediates the interaction between two systems to provide the requested data or service. Docuten’s APIs allow us to connect our digital signature and e-invoicing services with any business software. We provide you with all the necessary support for fast and effective integration.
4. Streamline operations
One of the challenges to digital transformation is that companies often need several providers for their administrative processes when undertaking a shift to a digitalised model, which means multiple contracts to juggle, several different projects to manage and various API integrations to implement. This is inefficient and time-consuming, more expensive, and riskier from a business standpoint. However, relying on one provider is more cost effective, saves you time on implementation and compliance, and is more secure.
5. Focus on security
Administrative digitalisation makes business procedures like document signing and invoicing more secure than paper transactions. That said, as digitalisation becomes more mainstream, so do threats to security. It is important that companies rely on digital business tools that offer comprehensive protection to safeguard data and respect privacy in all operations, especially since “84% of customers are more loyal to companies that have strong security controls.”
6. Sustainability
Corporate social responsibility is no longer a choice but a necessity for businesses to move forward and thrive. Organisations need to start focusing on ways to make their business more sustainable, and digitalisation is a good place to start. By going paperless, companies can avoid excessive and unnecessary paperwork, which helps contribute less to the manufacture of paper (and the felling of trees, wasting of water and CO2 emissions that result from it).
Digital business transformation can improve procedures and kickstart productivity.
Digitalising internal business processes is a surefire way to propel your company’s digital transformation in 2021. Relying on digital administrative solutions for signature and billing has enabled companies to handle essential paperwork remotely, bolster document security, improve eco-friendly practices, and save time and money.
At Docuten, we provide end-to-end administrative digitalisation for mid- to large-sized companies, offering digital signature, e-invoicing and the automation of payments through one provider. You no longer have to worry about engaging with multiple providers for your digitalisation needs. Our team makes sure that all your documents, communications and invoices are protected, and comply with the strictest security regulations.
In 2020, Docuten securely handled 8,755,788 documents, including incoming and outgoing e-invoices, and documents sent for signature. If we estimate that each document was a single sheet of paper, Docuten saved 8,755,788 sheets of paper from being manufactured. This prevents wasting 79,678 kilos of wood and 87,577,880 litres of water, and avoids emitting 5,778 kg of CO₂, greatly reducing the negative environmental impact of paperwork and boosting your company’s CSR.
Contact us to learn more about how to start your digital transformation today.
Interested in more information on digital business transformation? Check out our Whitepaper on Digitally Transforming Administrative Processes
