How Digital Transformation Consulting Helps SMEs Grow their Business
Ignition Law is disrupting the traditional legal profession by going digital. Instead of a fancy office in an upscale neighborhood, the startup built a cloud-based business. It helped the company provide high-quality legal services at a low cost. By enabling remote and flexible working for all its lawyers, it could take advantage of professional and top-notch lawyers who didn’t want to work in a high-pressure office environment.
Because of its reduced operational costs, Ignition Law charges its clients 50%-60% lower prices than competing law firms. In addition, it uses web-based collaboration tools to support its operations and enables legal professionals to work without visiting the office. Started from humble beginnings, the company now boasts over 200+ clients.
Similarly, through digital transformation, Willmott Dixon achieved excellent connectivity and reduced operational costs. The company utilized MPLS and 5G networks to connect all its sites. They could also move most of their business to the cloud using Microsoft Azure. With their digitally-led operations, teams achieved 10%-15% higher efficiency and faster connectivity.
Through a digital-first approach, the company has saved over £4m in expenses and 26,000 hours of staff time. In addition, their team is highly satisfied with the collaboration tools as they complete the digital transformation of their entire business.
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Small Business Adoption of Digital Transformation
92% of SMEs believe that digital transformation is significant for their business. It provides them with better outputs, simplifies operational management, and generates higher revenues.
46% of small businesses already use business intelligence tools to gain valuable insights and deliver a better customer experience. In addition, multi-cloud and connected cloud solutions in BI are improving the small business landscape.
Digitally advanced small businesses earned two times as much revenue per employee and experienced revenue growth almost four times as high as the previous year. As a result, small businesses undergoing digital transformation will likely create more jobs and increase their expansion rate.
Why Digital Transformation Consulting Makes Sense For SMEs
Many small businesses go through their lifecycle without reaching their true potential. The lack of proper technology implementation is a major reason that keeps them stagnant. That’s where digital transformation consulting can assist.
Digital transformation consultants assess the businesses’ current situation and provide tailor-made solutions to help the business achieve maximum return on its digital investment. A digital transformation strategy acts as a roadmap to identify what new technologies to implement and which existing ones need replacement.
When enterprises hire a digital transformation implementation partner, they are stepping on the road to becoming a digital-first business. It means they will digitize their operations, connect their organization through digital tools, and reach more customers online. Digital product engineering solutions and services also allow consultants to train employees in new technology and upskill their talents.
Read more: Are Digital Ecosystems Better or Worse for Modern Enterprise?
Here are some key benefits that digital transformation consulting offers to small businesses –
- Save Time and Money
- Digitizing business operations means saving time to manually conduct activities and money on expensive infrastructure. Small businesses can move their operations to the cloud and eliminate the hassle of having a dedicated data center. Similarly, they can save money on hiring expensive resources for tasks like data entry when an automation platform can help scrape data and save time and money. Digital transformation projects generally have a one-time investment, which can be returned with the revenue growth from digitization.
- Stay Relevant
- Another reason to hire a technology consulting service for digital transformation is to stay relevant. The digital transformation process provides collaboration tools and methodologies that allow businesses to deliver seamlessly in the rapidly changing world. More and more SMEs are moving toward digital technologies to reach digitally-savvy customers wanting more online service than offline. Digital transformation consulting skills involve implementing the best service online to ensure businesses can quickly meet the customer’s changing requirements.
- Increase Revenue and Efficiency
- The more efficient an organization is, the higher its revenue will be. The best digital transformation consulting firms build a strategy to make operations efficient and focus on achieving the ultimate goal – multiplying business revenue. Digital transformation simplifies a lot of processes, which in turn enables the business to concentrate on its core activities. Therefore, digital transformation becomes a major driver in increasing revenue and multiplying the business’s profits.
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Conclusion
SMEs are limited by their budget, but digital transformation can help them multiply their revenue without spending a ton of money. Today, small businesses are hiring a software product engineering company for software development, upgrading existing products, and digitizing the entire workflow. It helps them to increase their revenue and stay relevant to digitally-savvy customers. It has become essential for small-scale businesses to implement digital technologies as they can simplify the purchase process for their customers while making it easy for employees and their staff to manage business operations.
Are you a SME looking to scale your business using digital technology?
Contact the expert technology consulting team at Tntra today.