Digital Transformation EY- Purpose & Elements

EY is a business innovator. They provide digital transformation ideas to clients around the world. Digital transformation EY shapes companies into better entities. 

Digital Transformation EY

There are several factors that contribute to the change of digitalization. For instance, there is technology on top of the list. Not to mention globalization and demographics. As a result, digital transformation creates more growth opportunities.

However, along with this growth are the risks. Which are the risks that result from getting more involved with digitalization. 

Thus, additional innovation is needed to help mitigate the risks. 

EY Helps Companies To:

  • Define the company’s purpose and mission.
  • Also, to accelerate a portfolio of initiatives.
  • Create and innovate like a startup
  • See the transformation as a continuous process

Elements Of Digital Transformation

Gaining The Customer’s Perspective

This tops the list. Because the better you understand the customer’s needs, the better you transform.

This is how companies today aim to gain a more in-depth understanding. For instance, they make use of the following ways:

  • Past investments and specific geographies. That is along with the market segments.
  • Also, companies conduct studies as to how customers engage in social media. Because this tells them what attracts customers most. 
  • Companies are also getting more reach by digital media promotion.
  • Gaining brand presence through social media. Because this further creates brand loyalty with customers.

Certainly, there are different ways of understanding the client’s needs. That is dependent on what type of product or service your company provides.

Top-Line Growth

Traditional ways of doing business are all out of tune nowadays. Because more and more interaction and integration are done with technology’s help.

For example, consider the following scenarios:

  • Businesses like financial services companies elevate their presentations. Because instead of using paper-slides. These people now use presentations on tablets. Moreover, this appears more sophisticated. Thus, more attractive and convenient.
  • Mobile tools are now used by insurance firms. Also, this is helpful for their salespeople. And with their customers. As a result, analytics planning is much easier and effective.
  • Business conversations are made easier and time-efficient. For example, the business purpose is now conveyed through videos on the iPad. 

Customer Touch Points

On the other hand, customer service is getting more innovative. Most especially in this time of a pandemic, less personal contact is more advised.

Thus, digital transformation makes way for this dilemma.

For example, a bank created a Twitter account. The purpose is to get in touch with their clients quickly. So if there are complaints and concerns, they’re only a tweet away. 

Moreover, companies today also offer self-service digital tools. As a result, customers save time inquiring from physical stores. Having tools available online, also helps the company save time.

Operational Processes Transformation

More than the visible customer service transformation is the operational processes. And this is where digital transformation greatly affects the business operations in growth.

For example, processes can now be automated with the help of automation. Besides, more and more tools are becoming more available for better project management.

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