Faced with a public that turns more and more to digital information and consumption, companies must adapt and digitalize in a digital transition. To do so, they must integrate digital tools adapted to their new needs in order to initiate and sustain their new operating modes. The digital transformation of companies also involves a long process that is important to know and follow. Discover it, as well as the digital technologies we offer at StreamMind to help you innovate and gain in competitiveness.
What is the digital transformation of companies?
The digital transformation, which could also be described as a revolution or even a digital transition, is for companies to place digital solutions at the centre of their activities. The aim is not only to make the work of employees easier, but also to increase the performance of companies in order to attract and retain even more customers.
However, 47% of companies in France still see digital as a temporary phenomenon and only 31% of business leaders see it as a real opportunity, according to the CM Journal.
Why do businesses need to switch to digital?
Companies must embrace this digital transformation to remain competitive in an increasingly connected world. Technological evolutions continue to accelerate and companies must adapt to them in order not to disappear.
Digital is now part of everyone’s daily life and its presence will continue to grow year after year. Nowadays, the smartphone has become the essential tool of our lives: we store our messages, our photos, our memories, our business emails and the many applications that have become indispensable to us. This small device that slips into our pockets makes it possible to remove the distance and connect with people from all over the world through the internet.
Companies can no longer afford to deny this reality and some of them have clearly understood it by basing their business model on digital. This is for example the case of Uber which relies on geolocation and real time.
How important is the digital transformation of companies?
Slowness can be very costly to a business. The digital transformation of companies is therefore essential if they do not want to lag behind their competitors. The risk is to lose market share, or even to see its activity sink.
For example, it is essential to have a website, but even more important to have a mobile site. Indeed, 67% of Internet users surf the Internet via their phone and only 57% via their computer, according to the study published by the agency We Are Social and Hootsuite in January 2020.
But the digital transformation must not only affect the marketing and communication aspect of the company, it also concerns everything related to its organization (recruitment, payment, etc.). Businesses must use electronic documents, electronic signatures, and the use of various tools and applications.
No sector can escape it. Digital is not only essential to survive, but also and above all to the development of the company.
What does digital transformation help to optimize?
The digital transformation of companies is essential to improve several aspects of a company.
The company’s image
An innovative, dynamic and modern company will be more likely to attract customers and investors. Digital transformation can help you look after your company’s brand.
The customer is king and has never been so spoiled. Whatever his needs, he has a myriad of offers to choose from. It is therefore not enough to offer a service or a product that stands out, or competitive prices. Providing the best possible customer experience is essential.
This includes an attractive, fast and convenient website, exchanges through social networks, the provision of an easy-to-use application, a fast and secure payment method, excellent customer service and/or fast delivery, etc. It’s a whole digital strategy that has to start to stand out, attract customers and retain them.
The work of employees
The digital transformation of companies also aims to facilitate the work of your employees on a daily basis, through the use of powerful software and applications.
In addition to automating repetitive tasks, for example, these tools also make it possible to streamline communication within the company for better organization and increased efficiency.
By optimizing their working conditions, you will only motivate them more to offer better service to customers and better performance within the company.
A company must have an optimal functioning to hope to give the best to its customers and allow its employees to flourish in their work. With the right digital tools, the company can perform better, optimize workflows and automate different tasks. Digitization of processes makes it possible to be more productive and to avoid any waste of time.
Digital transformation is also a powerful growth driver for companies. They have a lot of data on their customers and their target audience, thanks to the information that can be collected on the web, via exchanges, publications, websites visited or even completed forms.
They can obtain them internally, by implementing different strategies, or even buy them directly from data specialties. It is a gold mine to adapt its offer and better target its prospects.
The key factors of a successful digital transformation in companies
If the importance of the digital transformation of companies is obvious, there are two key factors for it to be successful.
Setting up a digital culture
The human being is at the heart of every company’s activity. This is why it is essential to establish a strong digital culture within the company as soon as possible to prevent any resistance. Teams need to be aware of how to transform their work processes.
It is only by initiating this culture change that the digitalisation of the company can be a success. All stakeholders must be involved, trained and it is important to offer appropriate support, responding to the different questions and the needs of employees.
The implementation of digital tools
The digital transformation of a company also necessarily involves the use of innovative technological tools. It is important that teams have the resources they need to digitize services and processes.
However, it is important to be careful not to drown the teams with too many tools that are still unknown, that would take too long to master or that would require starting from scratch. Increasing investments can also be risky for the company.
It is therefore essential to define the real needs of the teams and to equip oneself intelligently accordingly.
Steps to initiate the digital transformation of companies
Given this information, there are several steps to follow if you want to initiate the digital transformation of the company.
Establish a digital vision
The first change must take place within management, which must have grasped the stakes of digital and have a clear vision of the changes to be initiated.
This vision must be shared with the rest of employees in order to achieve cohesion around this new fundamental axis. It is important to train employees so that they understand the challenges of digital transformation of the company, tools, collaborative work, benefits, transfers that need to take place, etc.
Restructure the organization
The organization needs to be reviewed to foster the collaborative aspect. The Human Resources department must come into play to redefine the role of employees, if necessary, to develop skills, carry out briefings, optimise the working environment, adapt the management mode, etc.
Fostering collaborative work
Collaborative work has many advantages for a company that wants to digitalize and become more efficient. This way of working promotes the sharing of skills and knowledge, increased productivity, teamwork, speed of decision-making, etc.
Put the customer at the heart of their strategy
Without its customers, a business simply could not function. For your digital transformation to be successful, it is essential that you place them at the heart of your strategy. Assess their needs, adapt their courses, your offers, promote proximity, etc.
Using data to its advantage
As we discussed earlier, customer data is a gold mine to achieve your goals. Analyze and leverage them to highlight the profile and needs of your customers. This is how you can set up new offers that meet their needs. Think also of new ways to collect data, or even hire a data scientist to help you with their decryption.
Our digital technologies for the digital transformation of companies
For more than 10 years, StreamMind works to provide companies with solutions adapted to their daily problems, regardless of their sector of activity or size. We accompany you in your digital strategy to guarantee its success.
StreamMind is at the forefront of digital transformation for businesses, we offer secure and reliable software solutions with disruptive technologies capable of meeting all the needs of digitization of companies.
Invoice your customers with a scalable digital payment service
We have built an innovative all-in-one payment application that simplifies financial transactions between businesses. It makes it easy to bill customers, thus streamlining business relationships thanks to optimised payment deadlines and limited financial risks.
This is MoneyRoad, which also allows you to import your invoices or other documents on the interface, in order to attach them to your payment requests, which you can plan to send. You can also create a new invoice from the app.
MoneyRoad also includes a negotiation function which, by activating it, allows you to negotiate the payment terms: down payments, payment amount, payment schedule, etc. You can also send money via the interface, using your credit card, your bank account or other.
You will be able to access it from anywhere, without your personal information being compromised. And the payment is based on usage, that is, the number of requests for payments sent.
Thanks to the dashboard, you also maintain visibility of your accounts and transactions.
There are 69 frauds for 1,000 cards in France. The latter caused a loss of 1.8 million in 2016 alone and 71% of them are made through remote payments. On the other hand, online fraud is up 2.1% a year in Europe.
Faced with these alarming figures, we understand how essential it is to protect ourselves from bank frauds and scams, but also to protect one’s customers from this type of shenanigans. You can also protect yourself from online payment fraud with our KYC LUCY service. It’s not only about securing your business, but also reassuring your consumers in their purchasing process.
Simple to use and very secure, our application allows you to control bank details for both businesses and individuals. It also reduces the risk of errors.
During the verification, it is possible to request different information about the person, such as his name, first name, date of birth, city of birth, address, but also his RIB, IBAN, SIREN, SIRET and VAT number. Bad domiciliations are immediately reported, as well as errors in accounts and customer or supplier contact information. In addition to errors and depending on your settings, you may also receive signals for payment statuses (sent request, received request, etc.), or validations (pending, rejected, etc.).
You can use it as a tablet or mobile application, as a generic web interface, or as an API format. It can be interfaced and configured on the client’s site or server. You will be able to change the format, mode of use and configure it as you wish, without paying any additional fees.
LUCY also helps you reduce your management fees by eliminating the need for manual verification. Another advantage of this application is that it is directly compatible with the DIAMOND SEPAmail service used by French banks.
Digitalise the communication
With CORPMessenger, you will be able to exchange files concerning billing and payments, production, contracts, human resources, etc. In addition, you can connect it to your databases, folders, messaging systems and ERP tools. The size of the files is unlimited and all exchanges are monitored, including payments. All data exchanged is also secured by a single encryption and coding system.
Using this application helps you reduce the risk of errors. All your existing tools are interfaced on a single platform. By automating your various processes, you also increase the efficiency of your teams.
CORPMessenger has the advantage of adapting and evolving according to the needs of the company. It only takes a simple configuration to make changes or add functions. You won’t need to be a computer expert to do that.
Create authentication solutions with biometric technologies
Our Digital Onboarding technology gives you the ability to create custom, fully secure authentication solutions based on your business needs. Numerous biometric functionalities can enrich your biometric services to improve the performance of the digital transformation of companies in record time: facial recognition, audio and text recognition, optical character recognition (OCR), signature capture, geolocation, geo recognition, etc.
Digital Onboarding is fast, scalable and will allow you to create end-to-end digitized processes according to your needs and requirements. You can make changes or evolutions to your digitalized services at any time by creating processes and adding or modifying functionalities without any code.
Our biometric authentication service is immediately ready to use, fully compatible in a native way with any operating system, database, format and can interface or connect with any professional tool already existing in companies.
Create any application quickly and easily
TIME digital technology gives you the ability to create applications of all types, including complex industrial applications, without the need to produce code and without any impact on the systems or services already existing in your company.
TIME’s interface is very easy to use, via a simple configuration, you can create rules, add or modify features according to your needs, etc. You can then run tests directly from TIME’s interface to verify the application visually and electronically, all without any impact on your system.
Applications designed with the TIME system can run on PC, mobile or tablet, and on any operating system. Applications can then be deployed on-premises, on one or more public or private clouds, or in hybrid mode.