What Are Digital Business Transformation Services?
Digital business transformation services refers to modernizing an organization’s processes and systems, turning labor-intensive manual activities into streamlined workflows and digital storage. For example, consider an organizations’ historical reliance on spreadsheets, simple database tools, and paper files. Digital business transformation involves finding innovative ways to not only move paper records to electronic formats, but to also fundamentally shift the way employees and other parties work with those files and records.
Rather than printing contracts or other documents and manually processing those contracts and documents to be reviewed and then managed on an ongoing basis, companies that have undergone digital business transformation rely on automated workflows to move files through the process for intra- or inter-departmental collaboration. Records are maintained electronically in the cloud, easily retrievable by authorized personnel who can access and work with documents from virtually anywhere in the world.
The benefits of pursuing a digital business transformation strategy within an organization include improved employee productivity and job satisfaction, enhanced client service, reduction in errors and unnecessary delays, and improved profitability. In fact, according to McKinsey research, digital transformation could result in an additional $13 trillion in global GDP by 2030, as technology paves the way for new business opportunities and enhanced profits that organizations can, in turn, reinvest.
Reliance on paper records and manual processing is not only inefficient; it also poses security risks for organizations. Today’s digital business solutions are designed to provide enhanced security to companies. Rather than keeping the company’s (or department’s) records in a centralized file room on the company premises, records are stored securely in the cloud. Organizations can control system permissions for authorized personnel, limiting access to those who have a legitimate business need to view or work with information. System administrators can quickly and easily reconfigure access rights to reflect changed roles or employee terminations. These controls also allow organizations to work with outside document and process specialists who can help organizations review and manage their contracts and other documents in an efficient and cost-effective way.
Ultimately, digital business transformation services can improve the way organizations work with contracts, real estate records, and any other type of document or process that typically involves multi-step processes or several levels of reviewers.
Baer Reed offers digital business transformation services and ongoing document management services (including helping to train AI tools and improve QA), which is designed to help any organization transition from time-consuming and error-prone manual processes to more efficient and effective digital solutions. Contact us today to learn more about how we can help digitally transform your business.
- On February 10, 2020
- Back to post list