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DATA SOURCE: BANK OF AMERICA'S QUARTERLY FINANCIAL SUPPLEMENTS. CHART by Motley Fool
Don't look now but your neighborhood Bank Branch location may soon be closing. The Banking industry has woken up to two important facts:
I'd like to share a short story with you. I recently connected with a Sales Executive who just joined a very successful company that has been in business for over 15 years. One of his first priorities was to hire three new sales people for his team. He commented about how he had just lost a good sales candidate that he wanted to hire (after 4 weeks of investing his time in the interviewing process) because his company took too long getting back to her. He also shared that the company still uses email and spreadsheets as the primary technology for recruiting, communicating and tracking new employee hires. Sound familiar?
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Digital Transformation has been talked about for years. Some people see the big picture and can visualize why and what benefits they will receive from all the hard work and change necessary to move to the future.
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Are you suffering from Digital Transformation Stress?
It’s a rapidly changing world and digitization is having a huge impact on every employee, business and industry. The speed and scale of digital disruption as companies move from legacy infrastructure and evolve to innovative and emerging technologies, plus long work hours and less resources are causing many people to feel stressed out, anxious and overwhelmed as they navigate their way through this massive transformation.
Chevron's new wireless gas station pumps accept Apple Pay, Android Pay, Samsung Pay, etc
What happens when you digitally transform your business and improve your customer's experience before your competitors? Your customers move their business to you from your competitors. Your sales go up faster and your competitors sales go lower.
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Photo Credit: Barry Ross
In the future, your coffee may soon be made and delivered by your favorite robot barista. Wait… you can have it now by visiting CafeX in the Metreon shopping complex in San Francisco (as of January 2017). And it costs less than a human barista making the same quality coffee at Starbucks, Peets or the other leading coffee chains.
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"By 2020, every business will become either a digital predator or digital prey… The prey will remain Digital Dinosaurs, unable to evolve their proven business model until it’s too late”
- Forrester Research
In other words, NOW is the time for you, as a small or midsize business (SMB) to embrace Digital Transformation. Doing so will have a dramatic impact on your business and its bottom-line. It’s crucial that you evolve, stay relevant and use the right technologies to keep you competitive, make your people more productive and grow your business.
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Download your Free Infographic that lists the Top 10 Business Issues, Top 10 IT Priorities and Top 10 IT Challenges that Small & Midsize Businesses (SMBs) are facing in 2017.
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