Is it an efficient operating model? Reliable connectivity? Today’s most innovative companies will understand that readiness is not demonstrated by any one thing at any one time.
Employees always need tools that will allow them to innovate freely. Leadership needs sophisticated defenses that help neutralize cyber threats before they become serious. Sensors and software should not only collect and analyze data, but simplify processes and protect the bottom line. Customers want and need to be met at every touchpoint by experiences that are frictionless, memorable and secure — over and over again.
Readiness is fluid, and creating it is a project that far-sighted business owners never finish. They do, however, start somewhere.
In a recent study roughly two thirds (64%) of small to medium businesses indicated technology was a primary factor in pursuing their business objectives.1 No matter their size, a comprehensive digital strategy can enable organizations to adapt quickly to changing needs. And with technology becoming more accessible, affordable and more valuable to its end users, smaller businesses can drive better outcomes by taking advantage of solutions that were once cost-prohibitive.
Treating digital transformation as a continuous journey helps leadership not only drive change within their business, but also across their category.
But while companies recognize the need for their own digital transformation so they can better serve their customers, its value goes beyond a one-time expenditure. By Gartner’s estimates for endpoint installed base, 4.82 billion connected things were in use in 2019, and that total is expected to reach 9.25 billion by 2023.2 With so many points of connection and with 5G expected to provide unprecedented network speed, bandwidth and low latency, new business models will take flight, new customer experiences will emerge and new threats will proliferate alongside them. The task is to look at your organization and envision where you want to be in five or 10 years, and ensure you are laying the foundation to get there by using the latest technologies.
Digital solution providers tend to forget that small and medium businesses exist at different states of readiness. Few providers can make all the digital pieces of your business talk to one another. And with the advent of 5G Ultra Wideband, the business imperative to innovate will only accelerate.
Organizations of all sizes need to keep up with the breathtaking pace of change. Today, readiness touches every part of your organization, at every millisecond. Preparing for an always-on business environment is complicated, but with the right roadmap and partner, deep, meaningful digital transformation is possible — and can be a major competitive advantage. Organizations that are ready will feel they not only can keep up with, but outpace, the changes, challenges and competition to come.