Digitalisation has taken over the market during the last five years. Increased brand visibility, market share and customer engagement, higher team spirit, and increased customer revenue have made digital transformation a popular avenue for all businesses alike. For instance, a retail store in a remote colony with a digital presence would any day have a greater brand value than a retail store at the centre of a prime locality but without an e-commerce website.
This very functionality of value creation has created a great scope for digitalisation in India too. Many SMEs are taking their baby steps towards giving their businesses a digital makeover.
Even though E-commerce and digital transformation are the needs of the hour, they have their own share of challenges too.
Here are the four challenges of digitalisation in India and their solutions-
An inadequate strategy
A lot of times, companies tend to dive into digital transformation without adequate homework. Every company has different requisites and applying a definitive methodology of other businesses to your’s would be a major setback. Most of the failed businesses in the digital world are the ones that did not have a personalised plan.
How to conquer it?
You should have a clear vision as to why your company needs this transition into the digital world. You must come up with a strategy that best suits your company’s requisites and target audience.
Seeking assistance from an external expert could be of great help in formulating an exclusive model for your company.
Lack of expertise
You might have a brilliantly laid out strategy and powerful budget to back it up. But neither of them would make up for the lack of expertise. Digitalisation is a combination of technological prowess and creativity. Compromising on any of them would leave you behind in the race.
How to conquer it?
There are high chances of your company to not have the expertise internally at the moment to tackle the problems posed by digital transformation. This may provide you with an opportunity to look outside and find the right digital partners that would take you forward in the journey.
Limitation of Resources
Limited availability of internal resources and poor resource management can cause irreparable damage to the company. The existing employees in your company may not have the mastery to keep up with the transformation. A sure-fire strategy executed by a competent team is what would make a greater difference.
How to conquer it?
Even before planning out a business model for digitalisation, make sure you have a clear analysis of the available resources. Try to upskill them with the science of digital media and e-commerce. Pooling more resources is also a great option to maintain a good workflow.
Cultural Shock
Another major crux of digitalisation would be the inhibitions of your team making it a tough task for them to transition from their conventional work practises to a whole new work culture. This might impact the employees’ efficiency and loyalty to a large extent.
How to conquer it?
The best way to conquer this challenge is to collectively work towards adaption. Start small and give the space to yourself and your employees to understand the dynamics of the digital world. Hiring external resources to train your team for the makeover would go a long way.
Digitalisation of business processes has indeed transformed the way SMEs, retailers and other businesses have been performing. However, only a right blend of expertise and direction would help you harness the benefits of the digital era.
A commitment towards adaption, innovation and improvement is all that is needed.
We have been helping several big , medium and small businesses to set a strong foot in the world of digitalisation. Let us partner with you to help you ace the race. Contact us for collaboration.
