The impact of digital transformation on business is undeniably changing how we carry out our daily routines. But, it is rapidly transforming the way we do strategic business- from daily task lists to annual operating plans and departmental transformation.
Today’s industries are driven by quick, exponential, and, above all, constant change. And, for executives, the key question is:
How can we change with it and thrive?
This article will talk about and give examples of today’s digital challenge and how industries can thrive with the help of digital transformation and do strategic business. It’s a simple but crucial problem solution approach, highlighting some key processes that must fulfill the goals of digital transformation.
Also read: Digital Transformation Demystified !!
In today’s business environment ‘digital transformation’ is a ‘trending’ and much-hyped concept, yet most companies go kaput and spiral somewhere in a space that’s not only devaluing but also most times just plain confusing.
But we understand.
It’s all valid and understandable because today’s digital challenge is the technology itself! Technology, as we all know, is constantly evolving. Incorporating core data, optimizing processes and on top of it, integrations, and then real-time tracking. It’s hard to keep up!
Most companies are hesitant to invest in digital transformation because they aren’t sure if the investment will pay off. And, it is not just a question of costs, but especially of capacity for innovation. Most companies do not know how or in what technology to invest.
They know digital transformation is necessary, but most of them are not sure where to start, or even which processes to begin with. According to McKinsey, a consulting firm specializing in transformation, the digitization of companies is still less than 40% of its potential.
However, when done strategically, companies can not only improve revenue in the long run but reshape business with digital transformation. And we know, the question still stands:
Our Answer: By harnessing data, automating processes, and optimizing them to change the way you make things—and the very things you make.
Quixy is a leading no-code platform that has solutions to all your questions and hurdles related to digital transformation. It helps you optimize operations and create new products and platforms so you can build a better, more profitable, and sustainable business.
To answer everything about where to begin, how to bring digital transformation, and what can you achieve tomorrow, let’s look at a few examples of companies from the most diverse industries that turned around the way they did things. If digital transformation is a must across industries and verticals, why stop at IT only?
Quixy has enabled and paved way for various companies- from education to broking services! The following is the starting step towards your way to digital transformation. Here is the start of endless possibilities regardless of the industry. Let’s see how.
The Navyuga Group has several esteemed companies under them.
Navayuga Engineering Company Limited (NECL), an engineering and core infrastructure company, executes infrastructure projects across the country. All of these projects involve thousands of workers, comprising of employees and contract field staff.
Quixy identified the challenge faced by NECL.
It was a tedious task to update payroll related information e.g. attendance reports, leave applications, etc. which had to be processed manually through physical forms or email. This started hampering both the accuracy of input data and the timelines for processing the payroll.
What Quixy Did?
First things first- automating the entire HR process.
This is where you start- identify processes repetitive that are impacting the business and automate them. The first thing Quixy did was automate the entire HR and Payroll process including Onboarding, Performance Management, Leave Management, Payroll Management, etc. in less than 2 months.
It enabled accessible and easy application procedures within minutes in real-time.
No administrative and repetitive work, no manual error, and accuracy in data. Imagine the time saved! It proved that the effort to process payroll has reduced by 60% and employee satisfaction has increased.
Once one department and process is automated, businesses must identify other processes that are potholes in the functioning of the business.
They saw that their IT company, Navyuga Infotech, a leading global information technology solutions, and services provider was using a legacy application to manage overall business processes across various departments.
The system was developed several years ago and needed to upgrade the legacy application but both options required significant effort, cost, and time.
Quixy realized, just like NCEL, it needs to automate all manual processes for NIT.
Using Quixy, most business processes across departments including, HR, General Administration, Business Development, Accounts, IT, Project Management, and Quality, were automated on one platform.
The impact of digital transformation on business was that they built custom applications for their different departments which were then seamlessly integrated with other department processes as per the requirements.
Imagine the hassle saved! Reshaping business with digital transformation streamlined the overall operations across departments and eliminated the use of manual and email-based processes. The transformation boosted employee productivity by 20%, and the satisfaction improved by 40%.
Presidency Group of institutions operates a pre-primary, a middle school, and a high school in Nizamabad, India. Running an educational institution requires seamless collaboration between school or college management members, administrative staff, teachers and multiple service providers.
What we noticed was that the management was troubled by the manual processing of invoices from the service providers. These were being physically delivered, mailed through the post, and also coming over email. It was becoming tedious and cumbersome to have a consolidated record. On top of it, the delay in the verification and approval process was costing a lot of manual effort and time. It was chaotic!
As emphasized before, if processes are automated and streamlined, none of them would have to spend so much time and effort. So, this is what Quixy did:
It automated the entire invoicing process!
This digital transformation of an administrative process enabled a sea’s change in the way transactions were carried out. A simple process was causing such hassles but now, with the service providers conveniently uploading their invoices with supporting documents, verification and approvals were a breeze because all of it was online and prompt.
This not only impacted the business but also the customers and other stakeholders. Imagine the frustration of all these providers if their payments were a mess! And Business 101 is to keep stakeholders happy! Digital transformation enables that on the go.
The impact of digital transformation on business for Presidency High School helped reduce their vendor invoice processing time by 40%.
In a completely different field and industry, digital transformation changed the way an energy and utilities company executed its projects.
Sunworks is an initiative to bring services to Solar PV developers.
The challenge faced was manual processes again. Lead management, proposals & executions- complex processes that lacked transparency across various departments. A readily available 3rd party solution failed too in configuring workflows and customization.
When you see this happen, the first step you take is to transform how you process things.
What Quixy did was simple yet magical- We developed a comprehensive & customized solution for the diverse requirements of each department.
Quixy studied the complexities and strategically began the automation at two levels to ensure a smooth transformation. Simple processes like lead capturing were automated.
Critical processes such as requirements gathering, estimation, etc were carefully customized, automated, and optimized! Based on the user data input, the system now generates accurate estimation based on the rules engine.
The impact of digital transformation on business for Sunworks was massive! Lead conversion for Sunworks improved by 20% all because of the simple automation of a crucial process.
Assetmonk is an online platform offering high potential real estate assets to value investors. It allows investors to diversify their portfolio by offering investor-friendly deals and custom product solutions.
The main problem though was manual investor management as the company expanded. It also posed a security challenge as paper and telephonic based processes captured critical information such as personal details, financial details, property details, and transactions manually.
This made achieving a comprehensive investor view across touchpoints impossible. As a result, Assetmonk faced higher costs, slower investor conversions, and a loss of competitive edge.
Why have such a hassle at such a high risk?
Just like what Quixy did, you need to automate all customer-related processes on priority to enhance efficiency and security. Customer onboarding processes became a breeze since the application process was within 5 taps and clicks on their devices.
The impact of digital transformation on business enabled Assetmonk to cut down the overall application processing time by 70%, resource cost for on-field executives by 80% while also enhancing customer experience.
Imagine the wonders it can do for you!
For a high involvement industry like Insurance and banking, claim processing and applications need to be on point and so should be the people handling it.
NTrust, an insurance broking services company catering to a variety of insurance requirements, realized that for an insurance company, their claim processing, and approval process was not the most pleasuring experience for not just its customers but also employees.
Receiving claims as physical files, comes with its own set of problems like safety and accuracy of data. There are 2 key problems that they wanted to address- the verification process and the constant customer calls for updates.
Using Quixy, the team at NTrust automated their claims processing method in no time.
They built a portal for their customers to submit claims which were then directed to the processing teams to whet the claims. They also created dashboards to get real-time status of claims processing, both for customers and NTrust internal teams.
This made the entire process a breeze not just for the customers but also the employees managing it! There is no information missing, customers have a real-time status, and execs have all their info! Automation is literally magic!
Slowly, they also identified other bottle-necks in different processes and slowly started automating them all. A key problem they solved was of on-field data gathering and task assignments which was solved because Quixy streamlined and made data accessible.
The value of a specific process, team, action, or decision is no more guided by intuition, but by real-time data archived and organized by employees, who will create more connected, agile, and goal-oriented teams. The impact of digital transformation on business leads to global leadership and growth.
The impact of digital transformation on business enabled NTrust to cut down insurance claim processing time by 30% and ensures a 40% improvement in staff utilization.
We saw so many diverse industries massively change their workplaces through simple yet extremely effective automation. The impact of digital transformation started these companies on their journey to revolutionize operations, improve product quality, reduce time to market, and unlock value.
Quixy continues to work within all of these and many more industries and businesses for future innovation.
With Quixy’s help, these companies are able to unlock their value by understanding issues and working in an agile way to develop sustainable solutions that can be used immediately to make work safer and more efficient.
To take your first step towards digital transformation and see its impact on your business, sign up for a free trial with us today and unlock your way to making value for a better, more efficient, and a secure tomorrow.
Also, read how we helped other industries transform and created an impact here.