Digital transformation isn’t all or nothing. In fact, small, quick wins can drive incremental benefits that increase the speed at which full digital transformation can, over time, occur.
Digital transformation is key to long term business success, however, not all budgets allow for this to take place in one move, within the timeframes we would like. The outcome of these projects is also subject to the quality of the processes that are implemented. In many cases the quality of the data is also a critical factor in determining the value of these projects.
The successful implementation of CloudTrade’s technology by clients is proving that small transformational projects contribute significant value, returns and savings within a short space of time. Small transformational projects often drive the success of full-scale digital transformations too.
Data capture is a prime example. We know many organisations still rely on manually capturing data from inbound documents, this seems out of sync with the digital age we operate in, particularly when the source systems are providing electronic data.
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We also know that the technology to capture data at a low cost and with 100% accuracy exists, because our patent protected solution does exactly that.
A decade ago if we asked an organisation to send a machine-generated PDF, only about 30% could because of outdated systems, technology or processes. Today, the ability to produce digital documents and then later capture and analyse that data is commonplace. Hence, the barriers hindering the implementation of small digital projects have all but been removed.
Hundreds of organisations using the CloudTrade service now use intelligent data capture to drive down the cost of processing inbound documents. This not only lowers the costs associated with data capture but provides new insights into these data streams and enables downstream automation
Data is driving the speed at which digital transformation can happen. And those benefits are within reach for all businesses. Small transformational projects, which can be started today, have the potential to benefit businesses within weeks not years and our clients are examples of this. Running these projects in parallel with larger digital strategies can offer real, tangible commercial upside for an organisation.
Digital transformation doesn’t have to be all or nothing and it shouldn’t be viewed as a single step to a final operating position. Small projects and incremental benefits can help businesses make bigger, more strategic and sustainable transformations over time and most importantly help the organisation remain dynamic.
To find out how CloudTrade can help in your business, get in touch today.