Digital Transformation: 8 Types of Businesses Must Implement It Now

Estimated reading time: 6 minutes

We’re at the point where digital transformation is no longer a luxury but rather a necessity. For some industries, switching to online platforms and modernizing operations has become the single most crucial factor for their continued success. Some others rely only on the digital realm for their entire operations.

Yet, with the ever-growing list of technologies, there are certain niches in which digital transformation is not as prominent or downright absent — without noticing their importance, these businesses risk falling behind their competition.

Therefore, below are eight types of businesses that must implement digital transformation now. Read on and see if your business is one of them!

Local Retailers

With the vast number of stores turning to e-commerce, it can be surprising to see that local retailers are still lagging behind. The reasoning is that these stores have a leg-up over online competitors since they can offer a much more personal experience and an opportunity to interact with customers face-to-face.

However, while this approach is valid to their existing customer base, they need to look into digital transformation if they want to attract new prospects and stay competitive. Practices such as social media presence, local SEO, or online ordering can help them reach out to more people and remain relevant in the era of digital commerce.

Real Estate

The real estate industry is also one of the most important fields to benefit from digital transformation. From online listings to virtual tours, there are countless ways in which technology can facilitate the buying and selling process.

If you check the ultimate guide to real estate flipping websites, you’ll notice a trend — modern platforms allow users to search for properties and make offers with ease. This is an excellent example of how technology can simplify the process, creating a nearly effortless experience for both buyers and sellers.

Restaurants and Cafés

Food and beverage businesses have started to embrace technology more than ever before. From online ordering systems and digital menus to loyalty programs and contactless payments — there are plenty of ways to make the customer experience more convenient than ever before.

Yet, similarly to local retailers, there are still quite a few restaurants and cafés that don’t take full advantage of the digital realm. This is often due to a lack of technical knowledge, resources, or time. In any case, various sources indicate that online presence boosts customer loyalty and makes restaurants more profitable.

Healthcare Services

The healthcare industry has been one of the biggest beneficiaries of digital transformation. Many hospitals, clinics, and other medical institutions rely on technology for patient care, administrative tasks, and even research.

One notable example is the use of Electronic Health Records (EHRs), which allow healthcare professionals to access a patient’s information in real-time. This improves the quality of care, reduces costs, and helps to mitigate errors.

But this doesn’t mean that the industry is all done with digital transformation. Many healthcare services still need to catch up in terms of patient engagement, telemedicine, or even basic online presence that would allow patients to book appointments and access information more easily.

Education Facilities

The pandemic has pushed the conservative education sector to digitalization. With school closures and stay-at-home orders, educational institutions had to embrace technology to continue delivering their services.

As bumpy as the road was, it also provided an opportunity for many educational facilities to implement long-term digital transformation solutions. From video conferences and e-learning platforms to virtual reality simulations, there are countless ways for teachers and students to interact more closely.

The main culprit, in this case, is the lack of resources, as most educational facilities don’t have enough funds to invest in digital solutions or, rather, don’t have the right staff to implement them. This should change in the future, as more and more young people are well-versed in digital technology.

Financial Services

The financial industry is a prime example of digital transformation. From online banking to cryptocurrency — the industry is constantly evolving and adapting to new trends. With that, the customer experience is becoming more and more convenient.

In most cases, the transformation serves as an extension of the existing services, such as online payments and automated transactions. The main goal is to simplify operations while also making them more secure. There is a long way to go in this regard — even considering that there already are solutions such as PayPal or Revolut that operate in an entirely digital way.

Manufacturing

The manufacturing industry has been one of the biggest beneficiaries of digital transformation. In a world where automation is becoming essential, many companies are turning to technology in order to optimize their operations and remain competitive. This includes things such as 3D printing, robotics, or sensor networks, all used for streamlining production processes.

The Internet of Things (IoT) also plays a key role in this regard. Many manufacturers now rely on connected devices to gather data and automate their operations. This allows them to identify potential problems before they arise and act accordingly.

And as this appears to be the inevitable future of the manufacturing industry, companies that don’t embrace digital transformation now will sooner or later be left behind.

Logistics Services

Similar to manufacturing, the logistics industry relies on digital transformation to make its operations more efficient. Already today, countless technologies, such as RFID tags or GPS systems, can be used for tracking shipments and improving delivery times.

Moreover, most companies now have a dedicated app that lets customers track their orders in real time. This not only helps them remain competitive but also increases customer satisfaction by providing invaluable insight into the industry’s inner workings.

And with 5G networks rolling out in many countries, the potential for digital transformation appears to be almost endless.

To Sum Up

A digital transformation is no longer an option for many businesses; it has become a necessity. From local retailers to logistics companies, the digital realm is slowly but surely becoming an integral part of their operations. Those who don’t embrace it now will soon find themselves left behind by their competition.

All of this should be seen as an opportunity rather than a burden. Digital transformation can bring numerous benefits to businesses, ranging from increased efficiency and customer satisfaction to cost savings and improved operations. Therefore, it is essential for any company that wishes to remain competitive in the future.