DIGITALIZATION OF YOUR BUSINESS powered by Lloyd Constellations
Digitalization is the use of digital technologies to change a business model and provide new revenue and value-producing opportunities; it is the process of moving to a digital business. It is not to be conflated with digitization which is defined as a process of converting data or information into digital format. As the Founder of Lloyd Constellations — an IT consultancy firm harnessing the power of technology to solve the most pressing challenges for SME’s in Kenya, this topic is particularly very close to home.
Today businesses — and SME’s in particular— are finding themselves in a cut-throat competition to outdo, outperform and outlive each other while delivering unmatched value for their customers and shareholders. In an age of an ever changing technological and digital landscape, it has become not just imperative but a necessity to innovate and creatively harness emerging technologies and new media — and here’s why –
For those of us who remember Nokia — yes, remember them? — we do so with an almost nostalgic feeling as many of us probably had their first mobile device from Nokia. In the recent past however, Nokia struggled to regain their market share despite having been acquired by Microsoft. For Nokia, and many other companies like it, it boiled down to their slow pace of iteration in a digital and technological landscape where competition is brutal and adoption of new ways of doing things is the new norm.
This is why digitalization especially for SME’s is a no brainer. Your business (and you as the manager) therefore are tasked with the ongoing responsibility of keeping up with evolving technology trends to stay competitive. As managers, we need to marry creativity and curiosity to consistently understand the current technology trends, allowing the business to align, synchronize operations and optimize returns.
If you or your business wants to reduce the importance of having multiple physical locations or want to build technical capacity to scale up faster and more seamlessly, this is the way to go. Businesses in the oil and gas industry for example, because of the capital-intensive nature of their work and the need to have physical refilling centres, can opt to leverage smart metering and sensors to reduce the over reliance on being physically located close to their customers for refilling. With machine learning, big data and AI, automation has becoming a new reality, helping businesses like yours to cut cost and directing meagre resources to the most critical part of their value chain.
At Lloyd Constellations, we are excited to work with such forward looking businesses and enterprises to analyse and offer 360 professional I.T consultancy helping you improve your customer value proposition all at affordable price points.