The new digital economy allows companies to achieve new levels of efficiency and productivity, but it also requires organizations and their leaders to address some tough questions. For example, how can we create a sustainable business model that addresses social and environmental impact? What challenges do we face in balancing the needs of different stakeholders within our supply chain? How does technology allow us to work with suppliers or manufacturers in areas where we do not have immediate oversight?
As these issues confront businesses, many realize that they need to rethink how they measure success in achieving social impact goals. Digital transformation is the key to meeting some of these challenges.
What Is Digital Transformation?
Digital transformation refers to the changes in business, operations, programming, architecture, and technologies driven by digital assets development. These assets can include software, hardware, models, algorithms, designs, web services, APIs, media content, and more. As information becomes increasingly digital, it is easier for companies to measure the impact that they are having on their customers and within their operations. At the same time, new business models allow organizations to achieve new levels of efficiency.
For example, companies can harness digital assets to identify structural inefficiencies within their supply chains and across industries more easily. They can use this insight to collaborate with other firms on issues like environmental conservation or labor practices. As a result, business leaders who adopt a forward-thinking digital transformation plan can begin to see their impact on their bottom line and stakeholders.
How Digital Transformation Supports Sustainability Goals
Companies that embed sustainability into their business model and adopt a holistic approach to measuring performance can positively impact the environment, society, and the economy. Digital transformation can help companies achieve these goals by identifying new ways of working with suppliers and verifying the provenance of materials. Below are some transforming ways companies can meet their sustainability goals leveraging digital transformation advancement.
Creating a resilient infrastructure:
Digital transformation can help companies build a more sustainable, flexible, and resilient infrastructure. This framework allows organizations to manage risks better, respond to unexpected events or issues, and anticipate future needs. For example, companies can deploy digital assets like APIs to quickly identify weaknesses in their physical infrastructure. Then, they can use this insight to make necessary adjustments without losing service availability.
Collaborating for change:
Digital transformation enables more collaboration between companies across different levels of the supply chain on shared goals like environmental conservation or social reform within specific industries. For example, manufacturers who source raw materials may partner with suppliers in less developed countries to try and improve labor practices in factories and other production sites where they work together.
Using technology to increase efficiency:
Digital transformation enables companies to identify new ways of working with suppliers that help reduce costs or cut down on waste. For example, companies find that they have more success tackling some sustainability goals by sharing resources with other organizations in their sector. In addition, it allows them to develop more efficient manufacturing processes and practices.
Building a transparent & trusted supply chain:
When companies deploy digital transformation, they gain access to new methods for sharing information with their stakeholders. It can include better tracking models and tools for understanding the impact of supply chains on the environment, society, and the economy. For example, manufacturers can use asset management techniques like IIoT or blockchain technologies to track data about energy consumption, waste output, labor practices at suppliers, etc.
How do we help your business using digital transformation?
Seven Bits is a leading digital transformation company offering you various services to drive excellence in your business. Our Blockchain Center of Excellence (CoE) team understands your business and provide bespoke solutions, including:
Legacy system migration:
We help you modernize your business by migrating from legacy systems to a robust and adaptable SaaS platform. We also offer cost-effective cloud hosting solutions for your new digital assets, including web apps, APIs, microservices, containers, etc.
API design & management:
Our experienced team works with you to create custom APIs to ensure your digital assets are secure, reliable, and ready for production. In addition, we can help you set up API governance models to support microservice architectures with an emphasis on security, code management, versioning, testing, etc.
Enterprise mobile strategy:
We can help you build enterprise apps that support mobile devices using single-sign-on (SSO) across iOS, Windows, and Android. In addition, by using our secure mobile messaging platform, you can keep your enterprise up-to-date on the go with push notifications and rapid access to information even when you are offline.
Custom software development:
We operate on a lean and agile development approach to meet your needs for both large and small projects. We can build your web or mobile apps from scratch or adapt existing code to meet your requirements. Our talented developers have a diverse range of expertise, including IoT, blockchain, AI/Machine Learning, React Native, etc.
Comprehensive blockchain development:
At Seven Bits, we can help you develop custom software solutions for your business by leveraging our Blockchain CoE. We offer support across all aspects of blockchain technology, including research and discovery, proof-of-concept (POC) development, application design, integration, etc. In addition, we help you optimize your supply chain management and build solutions through our extensive network of experts.
Offering virtual developers:
We also offer scalable virtual developers models that help you scale your business faster while maintaining sustainability. Our remote developers provide you the same time-zone working support to ensure zero delays with speedier project completion. In addition, we also offer you experienced developers with extensive knowledge across different blockchain platforms, including Hyperledger, Corda, NEM, NEO, etc.
Digital transformation accelerates change across industries by helping companies make more efficient business model decisions. As a result, businesses realize greater returns on investment both within their operations and through supporting social change throughout communities worldwide.
By adopting these strategies, companies can meet their sustainability goals and continue growing their bottom line without compromising performance standards. It is why digital transformation can be crucial for businesses looking to impact the world positively. Get in touch with us at [email protected] to know more about how we can help your business go more sustainable and drive better innovations through digital transformation.