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The Rise of Digital Transformation

The trend for companies to transform their legacy IT infrastructure into next generation digital platforms was growing even prior to the Covid-19 crisis. Throughout the pandemic companies were forced to adapt to new working practices and fundamentally evaluate how to be more agile and competitive in the future.

Being a technology leader is clearly a critical success factor for businesses in challenging times. According to McKinsey, the most successful organisations that dealt with the pandemic reported a variety of technology-related capabilities. 67% said they were more advanced in using technology than their peers before the crisis, and 56% said they were the first movers in experimenting with digital technologies during the crisis.    

Many organisations are now looking at how best to enable an omni-channel customer engagement strategy as well as leveraging the cloud to enable more flexible and adaptable business models and operational processes.

89% of enterprises are planning to adopt or have already adopted a digital business strategy - IDC

Good Corporate Data is a Competitive Advantage

At the heart of an effective digital transformation programme is how corporate data the life blood of the business will help drive the business forward. It is essential that companies don’t simply “lift and shift” the data they currently hold, but instead review what information will be critical to feed the business decisions and strategy in the new business model. First step in this journey is to identify what data you hold, who can access it and how it is processed.

 

Streamlining the data your company holds and understanding exactly how it is processed and why, delivers huge business advantages in terms of:
    • Reduced Cost and greater operation efficiency.
    • Lower regulatory non-compliance risk and exposure.
    • Improved go-to-market execution and customer service and therefore higher revenues and greater customer loyalty.

 

eSpyder’s platform is helping organisations gain visibility of the sensitive and valuable data they hold. This enables them to define effective digital migrations and ensure strong information management and security.

Traditionally, addressing the challenge of effective data management has been daunting. IT systems and business applications have often had siloed data repositories and user data stores. These have grown organically and divergently over time to span corporate servers, Laptops / desktops, cloud stores and even mobile devices. This has also meant that complying with privacy regulations such as GDPR, CCPA, HIPAA etc. has been an expensive and time-consuming challenge.

 

Taking Advantage of the Opportunity

Digital transformation programmes give us an opportunity to start with a “clean sheet of paper”. Streamlining and cleaning your business data will deliver significant ROI. Therefore, companies need to refrain from deprioritising good data management / governance during these severe trading circumstances. Indeed, they must make it a critical business objective.

If you’d like to explore how eSpyder can help you with your Data Management and what the next steps should be, feel free to contact me at