Change is sweeping through Australian businesses. According to data collected by market intelligence firm IDC, digitally sourced information has overtaken information derived from paper-based sources, with the gap expected to increase over the next five years.
Digital transformation has major implications for how small businesses manage, run and extract value from their people, processes and customers. According to the IDC research, two key outcomes will mark the transition to the ‘third platform’:
- Data will be the new strategic asset.
- The cloud will be the default IT delivery platform.
So what does digital transformation really mean for small business operators? How can they not just adapt, but also take advantage of these changes to stay competitive and keep growing?