BPM (business process management) focuses on improving management through use of digital technology and applications, and organizations rely on this BPM software to become more efficient, effective and capable of change. Digital transformation is effectively the investment in BPM software and newer business models to improve sales and market value.
Companies invested in digital transformation have seen greater profits and market share. About 80 percent of organizations are undergoing digital transformation efforts, but only 25 percent were seriously mapping it out. Read on ahead to discover the value of digital transformation.
Simply put, customer engagement is the most important value of digital transformation. The process begins when an organization puts in effort to understand what customers want and need, and then determines how those customers make their decisions. BPM software can analyze everything from customer location to purchasing trends, making this the ideal way to accomplish customer engagement.
Businesses have begun to realize customers know what they want and are the best candidates to determine a product's true value. Customers scour the Internet, read reviews, leave ratings, compare and contrast, and are willing to spend more money if they know the company will cater to their specific needs; this in-depth review make satisfaction a vital part of the process. BPM software enables the organization to store, prioritize and utilize customer feedback.
Higher Digital Traffic
Digital transformation upgrades your software to make it efficient, user-friendly and most importantly, smart. BPM software can help you achieve the almost impossible in today's time -- more traffic. As you work on engagement and satisfaction, you naturally see a rise in the amount of people going through your website or responding to your channels. More people hearing about you leads to higher lead generation and eventually, conversions.
Lead Generation and Conversion
Lead generation is the development of consumer interest around products and services. Businesses acquire consumer contact information to build a database of interested parties, convert these parties into consumers and eventually sell them the product or service. Digital transformation enables you to market to more people, guarantees you more traffic, thus higher rates of lead generation and conversion.
BPM software allows you to retain old traffic, create new customers, generate leads through analyzing this traffic and eventually convert this traffic into customers; digital transformation harnesses the true potential of this technology. Understanding the value and investing in this technology helps bring change to how a company interacts with its consumers.