Companies that can change quickly and launch new services are more competitive today. Therefore, more and more organizations understand digital transformation’s importance to success. So, how to understand if you are ready for boardroom technology?
Time for change: where should businesses start digital transformation?
Nowadays, companies are forced to switch to technologies they did not plan to implement until a certain time and revise their strategic priorities. “Go digital or die” is the reality that the COVID-19 epidemic has brought us to. The main challenges we face can be solved through digital transformation.
Several studies show that companies that have gradually introduced digital technologies into their business processes have far better survived the lockdown and economic crisis caused by the COVID-19 pandemic. The transition to a remote work mode did not become a problem for them. Cisco cites cases where companies that used digital solutions before the pandemic set up remote work for their employees in a few hours. According to McKinsey, in 2020, the business passed the path of digital transformation, which would have taken 7 years under normal conditions.
Some believe that digital transformation is simply introducing new technologies and translating data and processes into a digital format. Others see it as a new name for automation, an obscure or artificially created term. However, digitization – the translation, for example, of document flow online – is not yet the same as digital transformation. Digital transformation is a continuous and comprehensive process of transforming a company at all levels. It occurs in products and services, organization structure, management approaches, the format of working with clients, and even corporate culture is changing.
Is your board team ready for innovative solutions?
Board team members must understand the purpose of the changes, imbued with the idea that digitalization is not a temporary option but a requirement of today. If the team is aware of the importance of the process, then success is possible in the end. It is necessary to adapt personnel to technological innovations and a new style of management and work to involve them in the transition to a new stage of development. As a result, processes within the company will become more flexible, efficient, and manageable, and management structures will be transformed from hierarchical to more flexible – Agile.
In addition, due to the coronavirus, the need to strengthen digitalization and innovation creates prerequisites for increasing cyber risks. Companies today have a dual responsibility. On the one hand, to ensure the current digital security of their companies and customers, and on the other hand, be prepared for the actions of hackers. How does your company cope with this task?
Various systems are used to protect data. They include:
- leak protection systems,
- privileged access control systems,
- database transaction control systems,
- disk and removable media encryption systems,
- double control of Internet connections from inside and inside the corporate network.
The benefits of a boardroom technology
Using boardroom solutions makes work on the project transparent for the entire board team. The result will be felt at every stage of the work – recording in the system makes all the actions taken visible. Teamwork increases the efficiency of employees, as well as their role in making important business decisions. The board members share the company’s success and the responsibility for the work performed.
The increase in the amount of information requires a new quality of analysis, and the speed with which changes occur forces us to act and make decisions faster. Today, board management software can cope with it. The system ensures a well-structured workspace for secure collaboration and data exchange.