Many of us have probably heard the following statement: “every organisation is a technology company”. But what exactly does that mean? In this blog we will explore why every organisation should consider this approach, how to get there and how to make sure your organisation stands out from the crowd.
Today’s demands – customers’ expectations on the rise
Society is evolving. In fact, as highlighted in the latest Census data Millennials have caught up to Baby Boomers as the largest generational group in Australia. While Generation Z represent 18 per cent of Australia.
Millennials, described as “digital natives,” are the first generation to grow up with internet, mobile phones, and digital communications, making this group hungry for personalised, fast and customised experiences.
In addition, it has become clear that technology is shaping how we work and live, and customer demands for rapid, easy to access solutions and services have increased exponentially, leaving organisations in ever pressure to change at speed.
Delivering remarkable customer experience (CX) can only be achieved if organisations are focusing on their customers’ needs and investing in the right tools and technology to meet today’s demands. Those that opt for a different path will lag behind those that have taken the leap into digitalisation
Employee satisfaction – attract and retain
Lately, the discussions around better employees’ experiences have gained traction. With industries across the globe experiencing what has been called “The Great Resignation”, amid the effects of the pandemic. In Australia, according to the Australian Bureau of Statistics, almost 10% (1.3 million) of the Australian workforce left their jobs in 2021 – that’s the highest in almost 10 years.
Employees now expect more from their professional lives, better balance between life and work, systems and tools at their fingertips to perform their jobs better and efficiently, better alignments with organisation ethos and opportunities for further career development.
These changes can also be seen during hiring processes. The power that once lived within the organisation to grasp if a candidate was “good enough” to work for them, has now moved to candidates, who are asking the questions: “is this organisation good enough for me? Does it provide me with the right tools I need to perform my job? Does it give me opportunities to grow and upskill? Does it give me the flexibility of a hybrid or remote work model?”.
Organisations that fail to invest in platforms and systems to engage and empower their employees will struggle to attract and retain staff in the long term.
High competition – lagger or leader?
Competition is fierce. In a fast paced ever evolving world that is hungry for immediacy, there is no such thing as business as usual. Change is here, and it’s here to stay.
The pressure to develop products and solutions, and go to market sooner ahead of the competition, has never been greater. This means, adopting and integrating new technologies at speed is primordial to any forward-thinking organisation.
In addition, when implemented right, new technologies can bring a competitive advantage to organisations. Investments in capabilities such as data analytics can give organisations a clear picture of how they are performing, as well as the opportunity to make informed business decisions.
Technology enables organisations to compete in today’s world, remain relevant and profitable. Embracing it across each and every department and stages, can bring endless benefits, from employee satisfaction to better customer experiences and increased competitive advantage.
So, is every organisation a tech company? The answer is in your investment.
Organisations that invest and accelerate digital engagement – leveraging innovative tools and platforms to enable better user experiences, amazing customers across touchpoints – will be those that stand out from the crowd and the competition. Such organisations use technology and data to transform themselves and become digital-centric and agile, always looking ahead and keeping momentum going no matter the outlook.
Organisations that fit this profile are transforming at speed, reinventing business process and models leveraging technology to deliver customer and user centric experiences. They are paving the way for future success.
At Nexon we offer a range of end-to-end solutions to help organisations challenge the status quo, meet today’s demands and stay ahead of the competition. Talk to us today!