"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
According to a 2017 Small & Midsize Business (SMB) Worldwide Executive Survey on Digital Transformation (conducted by IDC:
- 44% are investing in technology to make an immediate difference
- 46.5% believe Digital Transformation will be essential to their survival in the next 3-5 years
- 73% have met or exceeded their expectations regarding technology investments
80% of SMBs see tangible benefits from Digital Transformation investments
These benefits include:
- 74.2% Increased sales
- 72.4% Decreased costs
- 85.9% Ease of information access
- 78.1% Improved customer service
- 78.3% Increased worker productivity
SMB Digital Transformation - Benefits from Investments
So the next time your team or your boss are wondering ‘Digital Transformation... Why now?' just show them the stats listed above and heed these words:
“It is not the strongest of the species... nor the most intelligent that survives. It is the one that is the most adaptable to change” - Charles Darwin
There’s no doubt that Digital Transformation can be a real game-changer in the success of your business. As a small or midsize business, you have an opportunity to move more quickly than a larger enterprise and this can be a big competitive advantage for you moving forward. But time is of the essence. If you’re not doing what needs to be done now to digitally transform your company - and your competition is - then it’s very likely that your business will become digital prey and it won’t survive the digital predator in your industry.
If you have any questions or would like to brainstorm some of your Digital Transformation ideas or speed up your projects, just contact us. We're happy to help.
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Article by Alana Ross & Barry Ross
Image: Copyright Ross & Ross International