The era of the siloed IT team is at long last coming to an end.
Today, an ever-increasing number of companies are moving away from the old organizational models that kept digital technologies and IT teams at arm’s length from other business units. As businesses seek ever new and more agile ways to wow customers and dominate markets, tech is finally becoming a tightly integrated day-to-day part of virtually every team.
It’s an operational shift that leaders have taken to calling “the digital transformation,” and it’s quickly become a top priority for companies working to stay nimble in the face of rapid technological change.
What Is Digital Transformation (DX)?
Digital transformation refers to the change organizations undertake in order to integrate and leverage digital technologies strategically throughout all areas of the business. While every business’s DX goals vary, and every journey is different, most embracing the change seek to enhance products, processes, and decision making. Well managed, a digital transformation has proven able to unleash the power of information across the organization to improve the customer experience and operational efficiencies.
With so much at stake, most businesses have already taken note. In 2018, it is estimated that 85% of businesses will make investments in their own digital transformations. And analyst firm IDC estimates that worldwide spending on digital transformation initiatives will grow to $2.0 trillion by 2020, with the most rapid growth in retail, healthcare, insurance, banking, telecommunications and media industries.
Yet while the most visible part of a digital transformation is often the reimagined customer experience, the real magic happens behind the scenes digitizing operational and administrative processes. Firms are realizing significant productivity gains through digital transformations including enabling virtual worker collaboration and knowledge sharing systems, the development of self-serve HR tools for employees, and even automating repetitive tasks to make the business run more efficiently and effectively.
As leaders work through the initial steps of a digital transformation — assessing the current environment, defining the vision, and building the roadmap — they are sometimes surprised to learn how often video can be tapped for transforming collaborative and operational processes that enable workers and reduce inefficiencies.
Video in Collaborative Processes
Already, workers are communicating remotely through video conferencing, corporate trainers are teaching from virtual classrooms to scale learning and development (L&D), subject matter experts are expanding the reach of their knowledge by sharing quick explainer videos, HR teams are using video to ensure onboarding is consistent for new hires throughout the company, and executives are broadcasting live video communications to employees, vendors, and investors.
Video in Operational Processes
Video technologies are also improving operations in warehouses, out in the field, and more. For example, workers on a tractor assembly line can use smart glasses to help keep track of specifications when building custom-ordered farm equipment. Or a cable technician in the field can use his mobile phone to look up a connectivity troubleshooting video while on-site with a customer.
However, for many organizations, there is still a challenge to using video for these processes. Too often, the video tools employees are using are inefficient and disconnected. Many teams adopt video by a series of point solutions — your L&D team, for example, may utilize an in-house recording studio, while other teams use a variety of free and paid video recording apps to create video content. Video production is typically done ad hoc, with outside specialists required for all the backend processing. And, even once the recording is finished, few businesses have designated a central place to store video content where it can be searched and shared from anywhere.
A video platform enables your organization to reap the full benefits of video as teams and executives use it more and more to truly transform the business.
While there are many good reasons some firms maintain their tech stacks on premises, today the cloud has become a near-standard cornerstone of successful process-led and technology-enabled transformations. In fact, research shows companies that shy away from cloud technologies struggle to achieve the same levels of digital maturity as companies using cloud-based or hybrid cloud solutions.
A cloud-based video platform, specifically, is a flexible tool that can integrate with your existing systems to enable the use of video throughout your entire organization, for any process your teams can dream up — now or ten years down the road. One can easily make the case that your organization’s digital transformation depends on a solution that solves the challenges of video.
Companies who invest in a cloud-based video platform as they transform and modernize their business processes stand to benefit from the following:
As video becomes more integral to how businesses communicate and how we all share ideas and information, now is the best time to consider how your organization manages its video.
So what are the right questions to ask in a video platform RFP to ensure you’re able to put video to work for your business? In our latest white paper, we cover the top 10 questions to ask as you consider investing in a video platform to transform your operational and administrative processes. Download your free copy today!
DOWNLOAD: The Top 10 Questions to Ask in Your Video Platform RFP