How Digital Dexterity Drives Business Success
Even though the statement, “Modern companies operate in a digital-first economy,” may seem obvious, only a surprisingly small percentage of enterprises have made the commitment to transform into truly digital organizations.
A recent survey conducted by Capgemini Consulting in collaboration with the MIT Center for Digital Business found that companies who exhibit digital dexterity (defined as “the ability to rapidly adapt to new technologies, changing customer expectations [and] industry shifts”) see higher rates of customer satisfaction, innovativeness, profitability and growth than their non-digital counterparts. But only 7 percent of the companies involved in the survey are truly digital dexterous.
So what exactly does a digitally dexterous business look like? First, the company has a digital-first mindset and concentrates on exploring and prioritizing digital solutions. The leaders of these organizations understand that digitized operations, data-driven decision-making and collaborative learning are crucial for the adaptability and long-term success of the business. Most importantly, digitally dexterous companies are focused on increasing employee engagement by providing the workforce with the data and tools it needs.
For the numerous organizations that haven’t quite achieved digital dexterity, getting started can seem like a herculean task. If your workforce has already found ways to get things done, is it really worth investing in all the extra software and tools required to transition into a digital workplace? Or should you follow the old adage and not worry about fixing what isn’t broken?
The answer is simple: achieving digital dexterity is an inevitable future for every industry, and organizations that avoid committing to it will likely find themselves left in the dust.
Here’s how investing in improving digital dexterity will help improve collaboration, yield a healthy ROI and, ultimately, help your organization thrive.
Employees will feel more invested in the success of the business.
Businesses who excel at digital dexterity know employee input is key. Instead of making decisions about technology behind closed doors, these companies treat their employees as consumers—making sure they’re investing in solutions that truly address their workforce’s key pain points.
Not only does this help improve the adoption rate of these technologies, it also empowers employees and makes them feel both invested and responsible. When your team knows you’re committed to doing what you can to make their workday easier, they’ll feel even more dedicated to their work and loyal to the organization.
Digital dexterity boosts the customer experience.
Customers are becoming more and more digitally focused, and the purchasing power of digitally dexterous companies is growing at a breakneck speed. As consumers become more accustomed to the streamlined experience offered by the digital tools they use every day, their expectations of service providers changes, too.
Whether you run a B2B or a B2C organization, today’s customers expect businesses to be nimble, flexible and provide near-instant gratification. And the ability to quickly respond to customer needs enables your organization to provide an improved customer experience, which leads to increased revenue and greater brand loyalty.
Your organization will be better prepared for potential disruptions.
No industry is safe from disruption—just ask the former owners of video rental stores and cab companies. Failure to adapt to change can be fatal for an organization, especially when a powerful new competitor enters the scene and begins gobbling up market share.
But digital dexterity can help you prepare for these sorts of challenges and ensure you’re able to survive as the marketplace evolves. Because digital dexterity also fosters communication and collaboration, your business will be able to both anticipate change and react quickly.
Overall, making an effort to become a digital-first business will help your organization overcome roadblocks, keep employees engaged and satisfied in their work, support and drive collaboration and meet the changing expectations of your customer-base. By committing to digital dexterity, you’ll be well prepared for whatever curveballs the future may hold.
Interested in more advice about adopting a forward-thinking business strategy? Download our free guide Transforming Your Office Into a Workplace of the Future for expert advice from industry thought leaders.