Digital Transformation Archives - TeleConsult Solutions

How Finance Companies are Navigating Digital Transformation

August 20, 2018 by The Christine Advantage dba TCS

Digital transformation is a central focus of organizations that recognize its potential for helping them reshape business processes and get ahead of their competition. From improvements in productivity to enhancements in customer experience and subscription-based cloud applications, there are many facets to the benefits that an enterprise can experience.

In the finance sector, digital transformation is allowing enterprises to streamline operations and expand processes without hiring additional personnel. A reportpublished by the Financial Executives Research Foundation and Robert Half compiled the results of 1,700 responses to a survey of financial leaders on their perceptions of how digital transformation impacts their roles and their broader organizations. The survey included participants from both public and private organizations across the United States and Canada.

Over half (59%) of American respondents said they’ll be able to keep their staff size stable thanks to digital transformation. This is thanks to the automation of a variety of processes, including data collection, invoicing, report generation, compliance, and storage for documents. Many of these companies also have plans to automate areas like forecasting and financial planning in the near future.

A shortage of technical talent: Digital transformation also impacts staffing. Retaining technical staff is critical as organizations move to automate their financial processes, and there’s a definite push to implement engagement measures and pursue strategies that capture what’s important to employees and subsequently offer those benefits.

The greatest demand tends to be among candidates that have skills related to data analytics, with 19% of respondents indicating that this is the area they are often struggling to fill. Employees with experience in deploying enterprise resource planning (ERP) are the second most sought after. Other skills that are highly valued by financial organizations are those related to collaboration and communications.

Interim staff fills the gap: It’s common for financial enterprises to hire outside talent for a range of tasks, from everyday filing to consultants that can advise on system architecture and the best applications of data analytics. In the United States, 33% of financial leaders indicate that they have used interim staff, while in Canada 41% rely on interim assistance. The most common areas where temporary help is utilized is in accounts receivable, accounts payable and general accounting.

Technology streamlines processes for financial enterprises through digital transformation, but these organizations have a persistent gap when it comes to skilled strategy and communication to effectively mobilize the data that results from better processes.

Connecting financial enterprises with the right tools for digital transformation helps them move forward, improving performance, agility and productivity. To learn more, contact us at TeleConsult.

Cloud-Based Digital Transformation Solutions for Improving Business

July 9, 2018 by The Christine Advantage dba TCS

Without a scalable IT infrastructure, you’re not going to get everything you can out of your data. In this age of digital transformation, data is amassed quickly and is key to business processes at your organization. Cloud-based solutions can give you the scalability you need to improve workflows and improve how your business functions.

Going Off Site

Part of the power of the cloud is to eliminate the need for investing in more infrastructure and software. Rather than take up physical space at your location with expensive servers and software, which requires frequent updating, all of that is taken care of off-site by your cloud vendor.

The cloud is truly disrupting the way organizations spend on IT. According to experts, approximately a quarter of the IT market will be in the cloud by 2020.

Security Concerns

With digital transformation comes the threat of being compromised by enterprising cybercriminals. However, in order for a cloud-based provider to stay in business, they have to maintain their reputation as a safe and secure business partner.

Organizations that provide solutions in the cloud do everything they can to ensure your data will be safe. Cloud storage is becoming more common, and increasingly, the data is being encrypted so prying eyes can’t make any sense of it if they are able to access it.

The fact is, your data is probably safer in a cloud-based environment than it is on local servers. Many times, your employees are the gateway for cybercriminals getting access to your data. This is often due to weak passwords or clicking on a suspicious link in an email. However, with your data locked down tightly in the cloud, you can better remediate a breach and experience no loss of data.

Analyzing Threats

Thanks to powerful cloud-based tools, advanced threats can be analyzed and locked down, which is an important part of digital transformation. All suspicious files, which include digital communication, will be thoroughly analyzed.

Distributed networks need to be protected, especially as organizations see their workforce demand more mobile opportunities, which is another product of the digital transformation brought on by improved mobile technology.

At TeleConsult, our managed data centers will save your organization all the headaches associated with embracing digital transformation, and we can also save you time and money. We’ve provided small- to medium-size businesses with telecom and IT solutions for nearly two decades, and we can assist you as you take on evolving technology. Contact us today and we’ll further explain our value to your operation.

The Difference Between Failure and Success With Digital Transformation

June 18, 2018 by The Christine Advantage dba TCS

Digital transformation is shaping many of the strategies across enterprises for improving productivity, reducing costs, and organizing business processes, all with a focus on optimizing the customer experience. Companies recognize that remaining competitive comes down to engaging with customers for a personalized experience, and a digital transformation strategy will help them get there.

Until it doesn’t. All the promises of sales growth and dramatic cost savings often fall short of expectations when an enterprise’s digital strategy becomes clouded and then either stalls out or fails altogether. How can an organization avoid a disappointing digital transformation? Here are the key steps to success:

Know the why behind digital transformation. If an enterprise hasn’t clearly defined the why of its digital transformation, or if there is a failure to communicate it effectively across the organization, the strategy will likely fail. If the staff has the perception that they’re implementing technology simply to save money or grow revenue, there will be some major dragging of feet.

Instead, have a clear understanding of what digital transformation will do for the enterprise and get buy-in from staff. Digital transformation is about improving the customer experience and ensuring the company stays competitive.

Know how the enterprise is going to get there. A clear path for digital transformation doesn’t mean that it won’t ever change along the way, but it does help the team stay focused. Otherwise, line of business managers competing for resources can derail the strategy as they hear about new cloud solutions and push for their department to receive earliest attention.

Knowing how the enterprise is going to get there includes knowing what kind of transformation will yield the most momentum for the organization. The priority may be to roll out a better experience for customers, but the enterprise may need to get better control over the data first in order to know what will help predict customer buying patterns and the types of offerings that need to be prioritized to serve customers’ needs.

Likewise, there could be an operations department asking for Internet of Things (IoT) devices that monitor inventory or provide feedback on production efficiency, but IT knows that the network can’t handle the expected congestion. They’ll need to find a way to segment out IoT traffic before they deploy the devices.

Know when the enterprise has arrived. A good digital transformation strategy requires measurable goals on a set timeline. As an enterprise achieves milestones along the way, the company must be sure to celebrate the improved productivity or cost savings captured with these efforts. This also goes a long way to secure buy-in from the team for the long haul. Digital transformation can take years, so breaking it into shorter-term goals can help the team keep focused.

Successful digital transformation begins with understanding the why and the how, and it also starts with the right technology partner. Contact us at TeleConsult to help ensure your clients experience a digital transformation that meets their goals.

Why Digital Transformation Is Stalling in the Enterprise

March 5, 2018 by The Christine Advantage dba TCS

Even among enterprises that have a digital transformation strategy in place, the actual execution of that plan may be stalling out. A recent survey released by Appian and conducted by DevOps.com highlights the various reasons that digital transformation isn’t being prioritized in some organizations.

The survey, which included 463 leaders in business and IT, demonstrates that, in many enterprises, the challenges of technical debt and the push for new applications are drowning out enthusiasm for digital transformation. While organizations have their sights on innovation that includes launching Internet of Things initiatives, artificial intelligence, and machine learning, the reality is that development often gets crowded out by daily tasks. Here are some of the most pressing factors that are slowing a migration to the cloud:

Technical debt: Enterprises often have debt related to technology, but in some cases, this debt is in equipment or licensing that is in a complicated tangle with other technology, masking whether the return on investment is even calculable. For some organizations, the cost of terminating a service contract or other costs may prevent them from innovating their infrastructure or applications.

Talent shortage: The survey indicated that 82 percent of respondents reported difficulty with retaining or attracting software engineers capable of executing the specific plans of their digital transformation. CIOs also need more talent to simply handle the everyday backlog of IT. One in five respondents reported at least 50 major application requests that were waiting to be fulfilled by their teams. Sixty-one percent said that they had at least ten applications waiting for implementation.

Complexity of the task: Digital transformation isn’t a task that can simply be handed off to the new software engineer, nor can these steps be implemented without heavy investment. Yet 52 percent of respondents say they don’t expect more than a 10 percent increase in their budgets in the next year.

Meanwhile, enterprises recognize the driver of digital transformation: the customer experience. With marketers promising a personalized experience and customers wanting seamless experiences that load quickly and offer excellent performance, the competition to offer these benefits is important. Digital transformation has disruptive potential, and can determine which companies thrive and which fade.

For now, it seems that most enterprises feel they are keeping up with customer demand, with 71 percent of respondents saying their current technology adequately meets customer expectations. At the same time, 72 percent say the same technology won’t support necessary growth.

If the above findings sound like the situation at your company, TeleConsult Solutions is here to help. We provide technology solutions, but also work to partner with you through your digital transformation, offering guidance and matching you with the right providers. Contact us for more information.

Why Manufacturing Must Embrace Digital Transformation

February 5, 2018 by teleconsult

Digital transformation is a priority for every industry, with enterprises recognizing the need to transition to the cloud to remain competitive. From the user experience to processing data, legacy systems simply can’t keep up with the kinds of benefits that the cloud offers.

The effects may be heightened in the manufacturing industry. Some of the benefits that digital transformation offers may soon be considered indispensable for remaining relevant in today’s market:

Interconnectedness for the Internet of Things (IoT): Many industries are utilizing new technology that allows for sensors inside devices to transmit data, but certain markets, like manufacturing and healthcare, are outpacing the others at using these devices to transform business processes. As a result, manufacturing requires up-to-date systems that can handle large sets of data and real-time responsiveness with the IoT. When decisions are made to alter the activities on the production line, they must be made with real-time data.

Simply equipping systems to handle the amount of data exchanged with IoT devices will be a challenge for manufacturing companies. Not only does software need to be able to handle the data, there also needs to be consideration for network connectivity, particularly in cases where real-time data exchange is necessary.

Removing the risk of complexity creep: When new technology is tagged onto legacy systems, manufacturing companies can suffer from complexity creep, where the IT team is forced to keep creating patches and workarounds for supporting legacy software. Beyond any added complexity, the maintenance of legacy hardware is often more costly than implementing cloud software.

Supply chain visibility: One of the big drivers for digital transformation is a desire for supply chain visibility. Manufacturing companies want high visibility during every stage of production, from the procurement of raw materials to the final delivery to the customer. Legacy systems cannot match the clear bird’s eye view that’s offered by new, advanced systems provided through the cloud. With a high level of visibility, errors can be spotted and corrected before they are finalized, and those that can’t make such adjustments may be left behind by the competition.

The ability to make better-informed, quick decisions: One of the major benefits of investing in software is the ability to make decisions with better information and at a faster pace. The tools and insights available through cloud software give manufacturers the tools to improve workflow, remove inefficiencies, and make adjustments to production or overall strategies, all with more speed than what is possible with a legacy system.

At TeleConsult, we combine unbiased advice with reliable service, acting as your consultant all the way through your technology selection process. Contact us to learn more about implementing the right software to equip your digital transformation.

Managing the Digital Transformation by Looking at Data

July 10, 2017 by teleconsult

If there is one topic consistently at the top of many CIOs’ list of areas for improvement, it is digital transformation. In fact, a Gartner survey found that CIOs are investing nearly 20 percent of their budget to digital transformation efforts, pointing to the priority placed on this effort. The key is to understand needs and the desired outcome to ensure optimal benefit.
Almost 40 percent of IT leaders surveyed by Computerworld said that more than 50 percent of their organizations have undergone digital transformation, so this isn’t breaking news. For organizations considering it, however, the topic deserves a deeper look.

The bulk of your data is likely transactional, which involves sales, financials and other common data. The next most common data types are related to customer information, email and various applications used for improved productivity. Unfortunately, these are often the biggest headache for IT personnel, so take a closer look at yours as you prepare for your digital transformation.

Keep an eye on a growing new data type, which is sensor or machine generated. The Internet of Things (IoT) is helping to drive this data type, which grew nearly 30 percent from 2015 to 2016. Regardless of your data type, there is an ever-growing amount, which for enterprise organizations is likely around a petabyte in size. The better you are able to track your data, the easier your transformation will be.

If your data is stored in silos, your digital transformation plan is probably complex. A better way to go is through cloud-based storage solutions. Some organizations are finding success in a hybrid approach of on-premise storage with a cloud-based assist. Regardless of where it’s stored, all data needs to be governed with tough security policies that protect it. This is a delicate task as many IT workers are trying to juggle ease of access and security at the same time.

A CIO Tech Poll revealed that almost 70 percent of IT leaders are planning to increase their focus on business analytics solutions in the very near future, which means they’re likely to bump up their digital transformation efforts. Furthermore, around half of these leaders said they plan to increase spending on predictive analytics to help various challenges with their data.

At TeleConsult, we are constantly striving to pair our clients with the best telecom solutions. With unbiased advice and reliable service, we provide 24-hour support that allows our clients to effectively manage their telecommunications services. Contact us today and let’s talk about how to implement the best solutions for your business.

The Digital Transformation Process and How to Prepare for the Digital Era

June 5, 2017 by teleconsult

Optimized technology is currently on the market, and it’s there to assist you in adopting the best hardware and software to make you competitive in the digital era. Unfortunately, simply having the right tools doesn’t mean the outcomes are always positive. While the quest for highly optimized technologies is part of the process, just as important is the planning process that allows you to utilize tools in the most appropriate manner.

How should you begin making this digital transformation that will position your organization on a path to relevance rather than irrelevance (think RadioShack, Blockbuster Video, any number of bookstores, and many other companies that failed to navigate the impending technology landscape)? Here’s what you need to consider.

Gain real-time insights into your data analytics. Your organization might have the tools in place to gather massive amounts of data, but how are you using it? Your goal should be to gain actionable data-driven insights. If you’re going to cater to the needs of your customers in real time, you need to have a process in place where your data is frequently and consistently analyzed.

Part of every transformation process involves establishing the right culture. For many, the software development culture is one of the first transformative aspects they seek to establish. Your ability to develop and successfully deploy software is what will keep you ahead of the competition.

Asking the right questions will help you ease into a digital transformation. For example, in what order will you list your priorities for your business? What data is relevant when it comes to making fact-driven decisions that help you reach your goals? All great strategies have an end goal in mind from the outset.

Before you adopt a data analytics process, make sure the results are repeatable and not a one-off occurrence. This requires plenty of testing and retesting, because it’s important to have a process in place that offers you an excellent return on investment, both in terms of time and money. Plus, without an accurate analytics strategy, you will not gain any traction in the digital transformation process.

It’s really about measuring and quantifying how your company’s products and/or services interact with your target market. When you’re on the right track you are gaining a wealth of information that will tell you how to proceed with a current or future line of products.

TeleConsult has assisted many organizations in jumping from legacy systems to the latest telecom solutions. Our mission is to guide our clients to the best possible solutions for their business models, now and into the future. As your telecommunications partner, count on us to establish a framework you can depend on.

Posts Categorized: Digital Transformation