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Why Digital Transformation is Necessity for SME Businesses

In the extremely competitive world of today’s business, the need for businesses to continuously re-invent itself became the norm. There are many examples of business who that failed to adapt to the new market trends and were left behind. Kodack, Nokia, BlackBerry are just a few among many other businesses that were leading their industries, yet they failed to retain their competitive advantage and lost it to other more innovative, forward-looking companies like Google and Apple.

This phenomenon is not limited to giant tech companies; the traditional well-established companies are also feeling the heat of the digital wave. Almost every industry from retail, hospitality, media, transportation, automotive, banking and energy are now facing serious competition from the emerging digital business models brought up by the likes of Amazon, AirB&B, Uber,NetFlex, Tesla.

The new digital business model that are focused on utilizing technologies such as AI, IoT and Advanced Data Analytics to create the value, have proven that this approach will tremendously succeed in better customer experience and operational efficiency.

All traditional businesses whether big or small, should start their transformation journey to avoid being left behind in the digital world of today.

Why Should Small and Medium Businesses Capitalize on Digital?

Simply because small and medium (SMEs) business are in a better position to reshape and reinvent itself, unlike large organization that are crippled by slow decision making, heavy processes and procedures and tones of internal politics. In fact, most of today’s digital market leaders started as small innovative companies that believed in disrupting the industry they served, and managed to grow up to multi-billion dollar firms.

SMEs who act and take the lead now will have a better chance to overcome the competition. These companies who act fast can accelerate the processes of discovering the right digital products that fits their industries eco system and seize the opportunity in hand before it flies away to others.

Nice, But Where Do We Start?

Digital transformation is a new science that is still forming and shaping, there are of course the basic principles, assumptions and theories. Just to give an example of what it takes, the expert in digital transformation need to excel in many different domains such as: 4.0 Digital Technologies (e.g. AI, IoT and Big Data, Blockchain), Digital Business and Operating Models, Change Management, Digital Marketing, Digital Product Development, Agile, Design Thinking and Enterprise Architecture) just to name a few.

This is why most organizations rely on consultancy firms to drive their digital transformation initiatives. Of course there is nothing wrong with that if your company can afford to spend millions on consultancy fees, and that you don’t mind being left with a digital strategy document and few presentations that never make to real on-the-ground implantation.

We at “.Id” understand that small and medium companies need this cash to continue growing during these difficult times, we also believe in walking the talk and commit to supervising and steering the transformation journey to overcome all the internal and external challenges.

Dot.Id comes with a unique value proposition for ambitious small and medium business that is designed to democratize the digital transformation. We offer an affordable subscription-based package that will take you company to next level. By subscribing with us you will receive and comprehensive, tailor-made set of digital transformation artifacts, accompanied by weekly coaching sessions to keep you on the right track to success. Click the button below for free consultation.

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