4 Wrong Myths About “Digital Transformation”?Digitalization In Business Is Imperative

The concept of digital transformation (DX) has become a major goal for next-generation business trends. According to the authoritative report “Smarter Digital City 3.0” (released by Google and Ipsos), according to 89% of enterprises, digital transformation is their top investment in the future, taking digital transformation as an opportunity for business growth. Although digital transformation improved overall efficiency and reduced costs, it is not widely adopted in Hong Kong. 

Listed below are four myths regarding DX that should be dispelled. Clear your mind now, grow faster!

Myths 1: Digital transformation requires a high initial investment

Nowadays, enterprises can make use of the SaaS platform to enhance their operational efficiency, thus enabling automation everywhere.

AfterShip is a SaaS product that assists e-Commerce businesses in managing their business processes. It helps different e-commerce business runners to answer clients’ queries on the shipment status, by using the APIs which connected logistics and the e-commerce platform. Before AfterShift, e-commerce involved a significant investment of time and resources in tracking logistics data, replacing goods, and responding to inquiries about packages. 

A cumbersome process is one of the industry's pain points. Integrating data is costly and discourages SMEs. The SaaS platform fills the needs of the market, uses technology to improve operational efficiency for users, and reduces the cost of companies' own R&D systems.

Myths 2: It means an all-or-nothing decision

Another myth is about the digital transformation scale. Most people think digital transformation should be implemented for full, detailed, one-offed. In reality, DX usually starts in small units and then gets rolled out to departments and corporations. digital transformation is also a continuous process that sustains business growth.

An example is opening a new business account with HSBC was a time-consuming, tedious, and paper-intensive process. Now, HSBC has streamlined and simplified the onboarding process via mobile app and online document submission and verification. HSBC obtains a positive result with 82% of clients rating their experience as excellent.

Starting the digital transformation process at the department level is also a good choice. YOOV WORK can be used to streamline workflow and make the HR process paperless.

Myth 3: Hiring a new team of IT professionals is costly

digital transformation becomes much easier with the use of a No-code platform. There is no need to hire IT professionals to customize the system. 

In the marketplace, there are many existing SaaS platforms that can be customized to suit your needs. For example, YOOV+ empowers you to create custom business applications without writing code. Drag and drop to manage data, digitize workflows, and automate processes, not by coding.

Myth 4: Remaining unchanged during a pandemic is the best course of action

In difficult economic conditions, business owners may stick to the status quo. On the other hand, it is also the best time to begin digital transformation. 

Covid-19 is undoubtedly the largest driving force of digital transformation, which has greatly affected macro and micro-business environments and social work patterns, resulting in the rapid popularity of home offices and e-commerce. Zoom meetings, webinars, and the increased use of online shopping platforms have become the norm.

The digitally transformed business model is a new trend that will continue after the pandemic is over. Harnessing the power of the Internet can undoubtedly increase your customer base and expand your business reach.

YOOV's business is diversified, providing 3 SaaS products, YOOV WORK, human resource management and process approval system, YOOV EAT, Cloud Restaurant POS System and YOOV+, a no-code automation platform.

The three systems complement each other, forming an ecosystem for business operations spanning all sectors and helping you to monitor business development and manage uncertainty. To succeed in an uncertain operating environment, digital transformation is essential!