Operating model for the business is pretty simple:
The organization needs to increase productivity, bring down the expenses, and keep the customers smiling.
The way of maintaining this model has changed over the years. Papered files kept in the safe vaults used to keep confidential business information, but now we have digital vaults to store the digital data. Emails have become the lifeblood of businesses.
There is a position called Chief Digital Officer with many businesses now. McKinsey believes it can rate the potential of a business with Digital IQ or DQ. Industry experts find a feel of the golden unicorn in digitization.
The impact of digital technologies on the operating model is significant and it is still growing. We have witnessed certain changes with it and there are plenty more to arrive. Going with the expert opinions and researches, here are some changes that will cast an influence on how we work.
1. Leadership Will Rely Heavily On Digital Backing
One of the important factors behind good leadership skill is understanding where the business should go and where it is heading. With that knowledge, a leader is able to decide what needs to be done and when. Digitization simplifies these actions.
Applying the potential of the big data with a cloud-supported accessibility, leaders remain on top of the minutest happenings at various ends of the business. With all these happenings stated in form of simplified reports, leaders positions are in a better position to make decisions.
Another advantage that comes with digital technologies is that ease of communication. Different decision makers can connect, collaborate and discuss using Unified Communication channels to decide on what’s the best for business. With the digital methods supporting instant and dynamic allocations of funds, leaders can control the globally spread businesses at fingertips.
2. Digital Technologies Will Reshaping Organization
Digitization is aimed at deploying the talent on certain goals with more efficiency. As more efficient solutions come into the practice, various factors including customer journey, departmental reporting, etc. change. To keep up with such changes brought by the digitization, organizations have to look for the restructuring.
With the deployment of connectivity solution like PBX hosted in the cloud, the process of restructuring is easier and businesses will not shy away from going with.
Another major problem that businesses face is the different mindset of the different employees, which hinders with the operations. For example, a developer has different thoughts with the project compared to CEO, which will require a several rounds of iterations with the product to go into action.
Most businesses rely on a hierarchical structure but that slows down the operations and at the same time, transparency with the operations is disoriented, especially when differently located branches are involved. Digital developments, such as – mobile-first strategy, is a crucial helping hand with the problem.
Collaborations solutions keep the entire team (no matters what the size is) on the same page. This process disrupts the entire existing structures of the organization.
3. Products Will Develop and Improve Faster With Digital Technologies
Innovations and improvements are necessary requisites of the survival kit for a business in the market. But how does digital technology help with that? The simplest thought is that software are serving almost every operation for the business and as they all get a common development platform in form of cloud, the development is going to pace up. With that similarity with the development platform invites better possibilities of the innovation as well.
Moreover, ‘necessity is the mother of all invention’. As the operation models are changing shape rapidly, the needs of stockholders are going greedy. It raises the demand for the development of better products. Availability of big data adds more to the demand.
Developers of various sorts (not just software developers) are able to know what users feeling missing in their products. So, more innovation. The process has always existed, but the digitization has hit the gas.
4. AI & Digital Technology Collaborating To Take Off Load From Humans
McKinsey published an article ‘Where machines could replace humans—and where they can’t (yet)‘ in July 2016 that explains how different industries are going to face the impact of machine learning or Artificial Intelligence (AI).
The article says, currently demonstrated technologies can automate 45 percent activities that are currently delivered by paid man force. Different industries have various level of change. Manufacturing activities could be automated up to 59 percent.
Powered by dialer, IVR, chat bots, etc., customer-service will experience below 30 percent of automation, while the figure is 53 percent with retail. With accounting, automation possibility is 86 percent. Common expectations such as self -driven cars as cabs, drone-based delivery, etc. are other just waiting for security clearances to turn into reality.
One of the significant findings of the study is that physical and predictable workload on the manpower will reduce. This will allow the manpower to be deployed in the other valuable tasks that cannot be handed over to the machines as of now. With lesser workload on manpower, one can expect the rise in productivity and efficiency with the businesses.
5. App Integration Creates New Jobs & Changes Job Descriptions of Existing Ones
Most businesses have deployed solutions that integrate various business operations. For example, hosted dialers, accounting software, inventory manager, CRM, and bank account application can integrate to streamline a number of operations for your business.
Definitely, some data entry jobs are going off. But a study by Deloitte claims digital technology had delivered more job than it has destroyed.
Digital technology invites a great amount of research and testing to go live with the actual operations. Certain developments require the industry experts for that and medical field is a sound example for the same. Only an expert with the medicines can approve, experiment or test the influence of digital technology.
So, the jobs for data scientists and testers is on the boom with several industries. Along with that, there are certain jobs that are experiencing change with the operations. Consider the marketing industry.
It is still an irreplaceable part of the market, but the modus operandi has seen a massive facelift as online or digital marketing massive and growing. Different job operations are experiencing changes in one way or another. To remain a productive asset, all you need to do with adapt with the changes.
(Disclaimer: This is a guest post submitted on Techstory by the mentioned authors.All the contents and images in the article have been provided to Techstory by the authors of the article. Techstory is not responsible or liable for any content in this article.)
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About The Author:
Nishant Kadian is an editor with Servetel, a leading provider of VoIP services over the cloud. He enjoys exploring technologies, such as cloud, telephone, AI, etc. that influence the businesses. Your can reach him via twitter @nishkadi.