Today, most businesses are trying to improve their digital competency. The success of a company depends on creating advanced technology. This technology offers original services and customized experiences. It should benefit customers, employees, and corporate partners.
If you’re unfamiliar with digital innovation, we’re here to clear it up. Read on to learn about how it affects businesses around the world.
What Is Digital Innovation?
Digital innovation involves applying new technologies to existing issues in the workplace. This process takes place in stages that indicate improvements.
It affects all aspects of a business, from securing data to fostering interactions with customers.
Digital innovation was first led by access to smart devices and high-speed Internet. It is now driven by technology like:
- IoT (Internet of things) software
- Quantum computing
- Artificial intelligence
Where Can I Find It?
This process isn’t limited to large corporations. It can be found where you least expect it. It’s present in:
- Up-and-coming businesses.
- Mid-market companies.
- Non-profit organizations.
Some companies make these changes on their own. Others enlist professional help. Companies like icreon.us work with companies of all sizes. See how Icreon has helped companies:
- Grabbit. Grabbit is a new online delivery platform. Icreon created an innovative iOS app for this company. The app connects customers to available shoppers. It ensures speedy and quality delivery.
- European Waterways. European Waterways is Europe’s largest barging company. Icreon designed an online back-office system for it, which enabled the company to schedule bookings and manage inventory.
- Fox Plus. Fox Plus broadcasts media content across countries around the world. Icreon has made the platform more user-friendly. The agency also allowed Fox Plus to offer video-on-demand and high-quality streaming to users.
- Action Against Hunger. Action Against Hunger is a global organization striving to end world hunger. Icreon made it possible for this charity to track its progress in real-time. Icreon also cleaned up its disorganized data.
Is There a Distinction between Digital Innovation and Transformation?
You may have heard these terms thrown around together. There is a notable difference to make:
- Digital transformation is an ongoing process. It’s meant to improve business performance by changing the way a company thinks. It isn’t limited to changes in technology. A company’s staff and practices are involved.
- Digital innovation precedes transformation. It involves the creation of a new technology that is applied to existing digital technology.
What Trends Are Prevailing?
Companies have a lot of different approaches when it comes to this process. Consider two trends in digital innovation present today:
- Security. As digital innovation is becoming more popular, businesses are exposed to heightened security risks. Companies are improving their cyber-security. They are taking measures to protect against hacks and other attacks.
- The Machine Workforce. Human labor is declining in value. Companies are turning to AI-driven automated machines to complete work, which is changing the typical 9-to-5 workday. It’s increasing the amount of work completed independent of human involvement.
Should I Consider Digital Innovation for My Business?
Digital innovation has been a trend rising in popularity. According to PTC.com, more than 70% of businesses have some kind of transformation strategy in place.
A common misconception is that digital innovation is restricted to digitally-native companies. These are companies that primarily exist online.
Even if your business primarily operates offline, failing to participate in digital innovation can cause your business to fall behind. Your competition will be able to adapt to an ever-changing commerce world.
You’ll be stuck in your company’s old and inefficient ways. Employees will grow frustrated. Customers will find other companies to meet their needs. Partners will invest their resources elsewhere.
It’s worth considering digital innovation for your company. Start with small steps and be open to change. Consider enlisting the help of a professional if you don’t want to take on the task by yourself.