Dec 14, 2021
The Data You Need For Digital Transformation
Digital transformation is happening for every business of every size at an accelerated rate because your customer demands it, your business demands it, and it’s where the future is going in order for your business to keep growing
Digital transformation is utilizing the latest technologies to digitize your current manual processes, products, services, technology into more cost effective, efficient ways of working that you were never able to before
But often companies struggle to figure out the best ways and timeframe that fits their own business requirements for digital transformation, because every transformation requires a lot of effort, work, changes that can impact current customers
It’s about knowing:
- ROI — what benefits and savings could this digital transformation bring your business
- Implementation — how it will be implemented, how long it would take and what impacts will it have
- Planning — having data to plan ahead so you know what results you want to get out of the transformation
- Evaluation — evaluating current and new suppliers to see who you should do business with moving forward
- Timing — when would be the right time frame to start looking or implementing digital transformation for specific services
Working with many customers through evaluating digital transformation, what we have found to be the biggest roadblocks that delay or prevent them from making the change is uncertainty, because they lack “data” for what they currently have and how it correlates with the services they want to implement
Imagine this…….would you go buy a house if you don’t know how much you have in the bank, how much you can afford, are you paying fair market price for the new house, when you can move in, how you will sell your current house, and millions of other details of data you want to have before you make that big purchase decision right?🤑🤑🤑
Well….the problem when it comes to digital transformation for technology services is most companies don’t have the data they need organized or in central places, it’s usually across 100s of spreadsheets, portals, suppliers, or simply don’t have it at all
Type of data you need
- Contracts Data — knowing when your contract expirations, notice periods, penalties, and get out clauses
- Supplier Performance Data — knowing how well your current suppliers have performed to decide whether to keep or replace
- Spend Data — knowing how much you spend on products and services correlating with inventory
- Inventory Data — knowing what you actually have for each supplier, site, and for each service
- Historic Data — know your historic data so you can see what has been working well and not working well for you
- Trends Data — knowing the trends of your company by correlating data across your spend, contracts, suppliers, market
- Market Data — knowing what you have or what you get is best fair market price and similar companies has achieved
- Implementation Data — know how long implementation will take and what steps are needed while correlating with your contracts
- Site Data — know for each location what you have and what’s needed
Varisource is the first ever data aggregation service that helps companies gather all the data mentioned above through digitizing spreadsheets, API connections or we get it from suppliers all done for you
Then data is centralized in a single dashboard data hub that provide you insights needed to make digital transformation a success
Schedule a demo with us to see how it works at www.calendly.com/varisource
