Impact of Digital Transformation on Business Cost Reduction
Digital transformation today is key to creating processes that automate tasks and convert cumbersome work into productive tasks. According to Statista , by 2023, the value of companies that would spend directly on digital transformation would reach a total of US $6.8 trillion. An effective digital transformation strategy involves attaining digital maturity that leads to a considerable reduction of business costs. A mature digital transformation involves process transformation, adoption of digital tools to automate tasks, accounting software, team and collaboration tools, cloud-data storage, data analytics, software to manage sales, CRM, operations, finances, management etc. For example, Salesforce - a cloud-based digital transformation software helps in automating marketing tasks, CRM, team collaboration etc. Similarly, ServiceNow - a cloud-based IT service management (ITSM) platform - helps in inventory management, employee IT support, HR service delivery and even a...