Digital Transformation

Boosting businesses' productivity efficiency and performance through digital transformation

digital transformation companies

Today, digital transformation can no longer be considered an option but has become a necessity because if a business does not want to become obsolete and die along the way, it must renew itself and adapt to digitalization to remain a competitive company in the market.

Being a digital business transformation company, Chudovo is helping replace manual or traditional methods within the company's internal development through digital alternatives. We help our customers to seamlessly transition into the digital era while soothing the edges of potential risks.

We have a contemporary, innovative and tech-savvy scalable approach to empowering businesses of our client's IT systems modernization, obtaining an enduring business value.

We are digital transformation professionals who deliver the innovation that creates value and the quick evolution of the company by taking advantage of modern technologies. We optimize the legacy systems adapting and accompanying the corporate strategies so businesses can be apt enough to respond promptly to the digital era's challenges and reap its benefits.

Our experts offer you agile solutions that adapt to your business's needs within a strategic digital transformation framework. We analyze the IT landscape of your enterprise in detail. We support you from the initial evaluation of your company's maturity to creating the final digital transformation plan through disruptive technologies and thorough planning.

Why is Digital Transformation Important?

Digitization consists of the integration of digital capabilities in all processes, products and services of a company. This integration helps a company to more efficiently satisfy its customers' needs and compete more favorably in environments of fierce competition and specialization. The sector to which it is dedicated does not matter, nor do the projects that are carried out. Adaptation to the new technological environment represents an added advantage in all aspects.

Digital transformation standardizes the automatable processes of a company, minimizing the time and cost invested in tasks with less added value so that the focus can be placed on meeting customers' needs. With digitization, we obtain data that provides a large amount of information about daily tasks that facilitate their subsequent optimization.
Since most enterprises need help to complete a digital transformation, they usually seek consultants to migrate them to a digital environment that will create opportunities for the company to evolve.

At Chudovo, we accompany our clients throughout the digital transformation process, developing strategic digitalization plans, identifying the specific needs of each company, developing the necessary software to face the challenges of Industry 4.0, and promoting a business culture of making people feel part of it.

Our Digital Transformation Offerings

Digital Transformation Consulting

Focusing on the Customer and Sustainable Business, Chudovo's approach extends its scope to the entire organization, providing a vision that will give excellent results in the medium term. The digital transformation consultant is here to help envision the future business architecture of your company. We would help you develop the future organizational culture and people practices and create the organizational structure to be implemented. Chudovo's professionals will conceive the future value chain and break it down into detailed processes. Our digital transformation consultancy will link companies and digitization through appropriate technological implementation strategies for each case, considering all the minor details to give you a measurable business outcome.

Digital Transformation Implementation

Digital transformation involves applying digital tools in all company areas involving all your organization's teams. It is something vertical and transversal in the company. All members of your organization must be involved and aware of why and for what they are applying and understand the importance of all the processes. This will help our organization digitally transform your business to be more productive, competitive and flexible in the face of possible changes in a business environment. We combine technical know-how with years of experience in the industry, moving from strategy to implementation with equal expertise. Whether it is an enrichment of your enterprise with the power of AI, modernization of IT infrastructure or facilitation of your business apps – we've got you covered. With Chudovo, you have all the necessary tools to keep the company current, applying the latest technologies to prevent the organization from becoming obsolete over time.

Digital Transformation Strategy

Building a digital transformation strategy, coordinating the correct deployment of proven technology, and its transition to coexistence with the existing one are as important as the way to carry it out or change management. Digitalization is a trend that businesses across the globe are taking advantage of proactively, even though the digital transformation doesn't happen in a blink of an eye and requires a thorough revision of all the processes and defined strategic planning. There are no longer strategic plans on the one hand and digitization plans on the other. They have converged into one. Thus, digital transformation consultancy is a crucial piece of this union. At Chudovo, we help you develop digital transformation strategies that blend innovation with your business needs.

Modernization of the legacy

One of the biggest challenges that organizations face nowadays is ensuring that their businesses are ready to meet all the challenges that the modern age brings and the perspective of future ones. Advanced legacy modernization services of Chudovo allow you to re-engineer your current business processes, enhance the out-of-date systems, and fine-tune the issues in real-time mode, driving a higher ROI to your business through operational efficiency improvement.

AI and Automation

We step your digital transformation process up and aid your business's fast scaling by enhancing it by automating processes and applying artificial intelligence systems. With AI and automation, you would lower your time on day-to-day repetitive activities, significantly improving the comprehensive company's competence and unlocking cutting-edge insights.

Digital Applications

When you digitally transform your organization, you need to boost changes not only limited to operational infrastructure but to other companies' assets and applications. App development services of Chudovo empower your enterprise across the completion of the application's lifecycle. We assist you in your application-focused transformation in various ways, from designing the prototype to building an actual application and its further management.

We are always ready to discover new business opportunities for your enterprise to achieve the best possible results overcoming any challenges.

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Transformational technologies

Digital transformation helps organizations optimize their processes, make better use of their resources and continue to develop towards the future, obtaining the competitive advantages they need to stand out in the market. By choosing the path of digital transformation, you revolutionize how you conduct business thanks to the simplification of processes, the correct use of appropriate technologies and all the data generated that can be used for better decision-making.

The speed at which our environment and competition in all sectors are changing has accelerated the digitization process of companies and organizations. At Chudovo, we help companies promote the digitization of their operations, products and services to adapt to current needs and anticipate future ones. With us, you could fully embrace the digital age making your choice to scaled improvements.

Emerging technologies are the edgiest challenge organizations face today. Organizations need access to more refined data and "lessons learned" from experts supporting customers worldwide to remain competitive and effectively manage infrastructure and proprietary assets.

Any digital technology can be a significant game-changer in an organization's digital transformation journey. But the critical game changers being at the center of digital transformations are the next:

Artificial intelligence and automation

With the possibility of integrating different systems and automating various daily tasks, digital transformation took another leap when Artificial Intelligence (AI) and Machine Learning became part of the business strategies of many organizations.

In addition to driving faster and more efficient operations and, therefore, more productivity, these technologies are just as important in digital transformation because they enable better use of the data collected by your business. 90% of all data produced in history has been generated in the last two years. Therefore, it is necessary to make sense of them: "data is the new gold". Machine Learning and AI allow us to use all this information to take the company further, either by improving current products and services or driving innovative strategies. These two technologies are the most potent players in digital transformation and are the basis for other digital tools. They facilitate the creation of increasingly innovative and effective solutions that directly impact the acceleration and competitiveness of the market and the experience and expectations of customers.

Microservices

In recent years, companies have been migrating data and workloads to the cloud for all the advantages this technology offers, causing an increase in microservices architectures.

Microservices are a trend in medium and large companies that act as the engine of their Digital Transformation as they are highly scalable, flexible architectures that allow innovation.

The microservices architecture comprises small pieces of code that run independently and quickly allow software changes when needed or resolve any issues without interfering with processes or interrupting activity.

This solution, along with Agile and DevOps methodologies, has rapidly spread among medium and large companies as it allows for overcoming the limitations of monolithic architectures and provides many benefits.

Hybrid cloud

Gartner has predicted that by 2023, 40% of enterprise workloads will be deployed in the cloud and its infrastructure services. Hence, many consider the hybrid cloud a great ally of digital transformation in 2023.

Cloud adoption offers companies and public bodies a swift path to innovation and flexibility. This hybrid environment begins with the modernization and maintenance of existing resources in the corporate CPD for their subsequent overflow to the public cloud offered by hyperscalar Cloud services.

Thanks to the hybrid cloud, companies will strengthen their efficiency compared to previous years, which is why the adoption of this technology will continue to be high. Trends like this, combined with the implementation of technologies such as Edge Computing, will be the perfect combination to help address any challenge. Hybrid cloud offers several advantages companies consider when developing and implementing their cloud strategy—from the ease of migrating workloads, the improvement in scalability and security, facilitating the modernization of applications to even increasing the utility of the cloud.

Internet of Things

The IoT is an essential component of Digital Transformation. There are many analyzes that refer to the IoT as the most critical component within Digital Transformation because it allows, drives, and accelerates opportunities for business creation or change and improvements in the ways of working, living, and entertaining. by uniting the "physical world" with the "virtual world". In this sense, the IoT should be considered primarily consumer and industrial technology. The Internet of Things is leading in digital transformation for a wide variety of business applications in industries around the world.

The IoT is a primordial factor capable of revealing and unlocking value on a scale never seen before if companies pay attention to the information obtained from the data and change their business models accordingly to them. The benefits of IoT to companies are almost unlimited and include huge savings, competitive advantage, higher operational efficiencies, more significant commitment to the client and many more.

Blockchain

Disruptive innovations such as blockchain are increasingly affecting the way entrepreneurs do business, forcing traditional business models to adapt or be replaced.

Some of the industries in which blockchain is most prominent have very little to do with the financial sector, as it is increasingly embedded in various spheres.

The main reason for its success in so many different sectors is that this technology can transfer and store information and money quickly, securely and privately. Blockchain is solving the intellectual property problem in a digital age, creating a better sharing economy, opening manufacturing, and changing business collaboration by providing total transparency.

Blockchain would significantly impact how businesses operate, from financial to physical cross-border business transactions, reducing costs for processing, verification, tracking, coordination and transportation by streamlining and digitizing processes involving multiple stakeholders. Businesses use blockchain as a base for extra resilient supply chains and cross-border financial services transformations.

Digitization

Digitization consists of incorporating different technological innovations into companies in their daily methodology. Examples of this can be the implementation of a CRM to streamline sales processes or the creation profiles on social networks to have new channels in which you will promote products and services to your potential customers. The digitization objectives usually involve efficiency and effectiveness: Being faster at doing things, saving resources, having less reprocessing or, for example, obtaining a higher quality product/service. The benefits occur in the short term because the implantation is relatively fast.

Currently, the digitization of companies and the digital transformation process are part of the annual objectives of each company. Including them will prevent companies from becoming obsolete and losing market share, regardless of their business structure and type.

6 Steps to Digital Transformation

Digital transformation is an ongoing and complicated process, so you better have a strategic vision. It includes building a digital transformation framework which you can always lean on and return to during your digital transformation process. This will help you analyze how far you've already gone and see what you can improve in its course. The following key six steps are:

Understand your motives for digital transformation

Audit your company

Find the potential breaches

Revise your in-house business capabilities

Establish a digital transformation strategy

Audit, inspect and return to it - be agile!

Understand your motives for digital transformation

As a starting point of a digital transformation, you should have a clear vision of why you are doing it and why your business needs to become more digital. Make a list of the core reasons driving your desire for digital transformation. Is it to keep up with the competitors, improve your clients' experience, or manage the company's data more efficiently? Once you have a list of the reasons, you can plan your digital transformation and understand if they can be met.

Audit your company

To decide on the ultimate development pathway, you should realize where your company is currently. Review all the processes and systems you have at your disposal and estimate the effectiveness of their operation. If you are using digital technologies and tools, what are they, and are they working to their fullest potential? Study all your organization's functions, structure and working process.

Find the potential breaches

You must be looking to deploy digital transformation because there are some blind and weak spots in your business or opportunities that are missing to make your business prosper. What are the blank spaces to be filled with cutting-edge technology? For example, are you using the data you gather in the company's operation to extract value from it? What makes the clients and leads engaged and retained after they appear to be your customers?

Revise your in-house business capabilities

When you have cutting-edge technology in your pocket, you should revise what talents you have in-house to deploy it. Having even the most advanced above-and-beyond technologies makes no sense when you have no digital skills to steer them. What talents do you need to unfold the upcoming transformation, and do you have any in the company? Do you know how to upskill the current in-house employees so they can unwrap the new technologies to bring value to your business?

Establish a digital transformation strategy

When you understand all the points mentioned above, such as the company's motivation, perspectives, resources, capabilities, gaps to be filled and the presence of the in-house talent to deploy the digital transformation, you can come up with a digital transformation strategy which you can rely upon in its course. After its creation, you could guide your business upon this roadmap which ultimately should be tied to KPIs and a capitalization plan.

Audit, inspect and return to it - be agile!

A digital transformation strategy is something that should always stay the same. It would help if you were agile as the digital sphere is one of these, which changes quickly. Thus, you should always make room for change in case any factors which have been valid at the planning phase have changed. Agility is necessary when you are disposing of a transformation of such type, and your company should learn to adapt and change course if needed.

The Benefits of Digital Transformation

The changes in work environments and process management have shown that digital transformation provides benefits capable of making a difference in the levels of competitiveness of any company and giving a tremendous competitive advantage by improving how your business functions and how customers engage with it.

Boosting productivity while decreasing labor costs.

A company's productivity influences its image and reputation, which positions it as a modern company and a benchmark in the sector in which it competes. We understand that productivity improvement comes hand in hand with the efficiency, effectiveness and quality of the products and services you provide.

The improvement in the understanding of internal productivity problems, as well as the needs of customers, also directly impacts the company's innovative potential. If you want to boost your company's productivity, you can use technology to work more efficiently and reduce costs. For example, after you digitally transform and streamline your business, you can perform different tasks, such as improving the efficiency of the assets, reducing overhead and production costs, developing performance evaluations, and streamlining after-market service etc., from a single place. Thus, you get costs to be reduced by streamlining processes, which guarantees more outstanding performance and return and, finally, increases your team's productivity while avoiding cost waste from prolonged downtime and inefficient energy use.

Improves the customer experience.

The client no longer seeks solely to acquire a good or service that meets his needs but wishes to receive individual and personalized attention. Digital transformation plays a vital role in personalization since, through technology's enormous possibilities, we can know users' tastes, interests and demands, offering them an exclusive experience.

In addition, improving the customer experience is closely linked to customer loyalty and retention.

Digital transformation can headline the improvement of customer experience, resulting in better service, improved quality, faster delivery and ahead-of-the-competition innovative products and features.

The personalization of the user experience is one of the aspects that has the most significant impact on the value perceived by the client concerning the company whose products or services they consume.

Drives innovation, keeping you ahead of your competition.

Innovation, always associated with companies' digital transformation processes, is a fundamental pillar in the digital change of organizational culture. Creating new products and services will capture the attention of potential customers, leading you to a competitive scenario in which you will identify new business models ahead of the competition.

Having worked with multiple companies over the years, we understand that more than making the right decision is required. Speed is necessary for the analysis and adoption of measures. Traditionally, organizations had excessively bureaucratized analysis, decision and authorization processes, often leaving them behind the competition. The collection of data in real-time, as well as the simplification of collaborative work, allows managers and employees of the company to react extremely quickly to changes that may be taking place in the market.

Undergoing a digital transformation, you should know how each shift will benefit your company in the long run, to avoid investing in the wrong technologies and tools. Thus, ultimately companies need an advisory on the tools to implement and support.

Make Data-Driven Decisions.

The new systems for collecting and analyzing real-time data with predictive models have revolutionized identifying risks and business opportunities.

Not surprisingly, Big Data has become one of the most valuable resources treasured by organizations.

Companies have yet to be able to adopt measures based on verifiable statistical evidence. This has been possible thanks to the information available and how it is provided. The new graphic interfaces are extraordinarily visual and understandable, even for non-technical profiles.

Thanks to the obtained data, we can know the state of the market or what customers demand. This helps you to understand where the company is currently at in terms of satisfying the customer demands and what your strategy should be. Data analysis is the starting point for planning and developing a successful business strategy internally and externally, contributing to making the right decisions at the right time.

The conclusions drawn from data analysis have become the fundamental basis for decision-making in both the tactical and strategic fields.

Drive Growth.

Reacting to changes as quickly as possible will differentiate you from your competitors and continue your growth in the market. If you are seeking the growth of your business, the collection and analysis of data allow you to know the state of the sector, as well as predict future changes that may occur and how these may affect the company.

The gained knowledge will let you focus on identifying new niches to profit from within your business. These include new business models, products or services, revenue streams or additional yield. As a result, your business can get ahead of the competition by transforming the company's operations and processes to a digital format which will also improve client satisfaction while sufficiently reducing costs.

Bring new talent's interest.

The entire set of corporate digital applications and tools that have emerged in recent years have a common goal:

to speed up organizations' internal processes and increase employee productivity, providing them with more manageable and integrated resources.

However, productivity is not the only reason digital transformation has become a strategic element for organizations.

The new generations are technological natives and cannot conceive of carrying out their work without using particular technologies or the certainty that they will be able to exploit their potential. The ability to retain talent thus becomes an unexpected side effect of the digitization of companies.

Foster digital culture of collaboration.

The need to transform digitally to survive in the market is becoming increasingly evident. For this reason, it is crucial to start this evolutionary process as soon as possible and thus start benefiting now.

New technology facilitates collaboration among a company's workforce. Allowing employees to work this way and collaborating beyond traditional face-to-face interaction and email leads to great insights, generates synergies, and boosts productivity. New and dynamic experiences, such as cloud file sharing or internal team project sites, will create a productive and collaborative workforce as well as a considerable simplification of the relations between employees.

Improve Compliance.

Manufacturers in various industries state that regulatory compliance is steadily rising. This is usually connected to the regulatory industry-specific rules, generally related to industry safety, product quality, greenhouse gas emissions or distribution.

Since the regulatory compliance demands are increasing, the significant need of the modern business is greater visibility and unhindered access to data about the manufactured products, processes of their production and enterprise's performance. You can support the regulatory demands by introducing two key technologies to your business. These are PLM for hardware and ALM (application lifecycle management) for the software. PLM and ALM are the foundation of reaching accessible regulatory compliance within your product development strategy.

Digital Transformation by Industry

Healthcare

Insurance

Retail

Transportation and Logistics

Media & Entertainment App Development

Education

Fintech

Healthcare

Since healthcare providers are constantly under pressure to improve how they deal with patients while reducing costs, digitizing health services implies significant changes for health personnel and the general population. The availability of the appropriate technology and rapid access to data bring more agility and efficiency to the processes.

In this way, healthcare professionals can spend more time treating patients and less on bureaucratic activities.
Automation tools, such as medical records, agendas and electronic prescriptions, also facilitate the routine of these professionals, bringing greater visibility and organization. This prevents delays, misses and errors and unnecessary access to patients information.

Insurance

Insurance companies that are early adopters willing to embrace a digital transformation will reap several key benefits.

The first is cost competitiveness by leveraging a cloud-based platform and paying as you go instead of paying for software licenses and infrastructure maintenance. The second is increased speed to market, which allows companies to conceptualize and launch products more quickly, and therefore see a return on their ideas and investments sooner. The third is increased agility, which means consumers can purchase products through any channel without disruption, making the journey from research to purchase smoother.

A fourth crucial benefit is an ability to connect with various ecosystem partners. Consider life insurance linked to wellness incentives, where clients are incentivized to use gyms or health programs to stay well through discounts on their premiums. Using digital technologies, customer data, subject to data privacy laws, may be shared with partners within those programs to provide customer benefits. Such a program would be complex and cost prohibitive without a digital platform.

Retail

The retail sector is transforming the digital world, and the transformation is revolving around the customer, who is the axis of the actions carried out. In retail companies’ digital transformation, the correct use of data is imperative to success since, with accurate information about customers and the market, it will be easier for retail businesses to compete in the market.

The digital transformation of the retail sector is mainly influenced by changes in consumer behaviour and the way and time of the purchase process (connected consumers). In this sense, Retail-as-a-Service (RaaS) solutions show a new world of possibilities for small companies to boost their digital development. Developing RaaS models allows companies to flexibly manage traffic spikes in commercial campaigns and offer customized solutions.

Transportation and Logistics

Logistics has undoubtedly been one of the sectors that have changed the most over time, mainly in its role within companies and industries. The more strategic the sector became, the greater the need to digitize processes and automate functions and technological solutions for producing, controlling and analyzing information.
The first steps on this path were towards the digitization of processes, followed by the automation of non-strategic functions. Finally, we saw that the sector adopted technologies in other sectors, such as Big Data, Artificial Intelligence, and robotics.
This improvement in service levels is only possible with deeper monitoring, management and analysis. This is precisely where the digital transformation in logistics becomes even more significant.
In general, the digital transformation in logistics is more than an increase in investment in tools, systems and technologies that allow the optimization of resources, integrating stages and sectors to generate more fluidity and efficiency.

Media & Entertainment App Development

The main goal of digital transformation in media and entertainment app development is the constant upgrade to meet customers’ rising expectations. It entails a higher focus on digital services and modernizing IT infrastructure and the provided services.
The digital transformation process in this sphere includes:
• The development of new 5G networks.
• Launching modern digital services based in the cloud.
• Using data analytics and artificial intelligence tools to improve the efficiency of operations and customer satisfaction by the provided service.
For example, CSPs (communication service providers) can benefit from AI and IoT technologies to analyze customer data and proactively anticipate and offer new services that satisfy their needs.

Education

The galloping progress of the digital transformation of the Education sector is gaining more strength in the face of emerging realities.
The benefits of digital transformation in the educational sector are innumerable. The main one is that students become more self-sufficient by handling digital tools. In addition, they can use innovative methods in their way of learning.
The digital transformation allows understanding the needs of each student to be attended to in a personalized way. Students can explore concepts on their terms, not limited by the material covered in class, a physical location, or even the teacher’s schedule. Traditional classrooms also lack progress-tracking mechanisms; however, with the help of modern digital tools, this can be achieved.
Digital transformation enables easier collaboration between schools, teachers and students even though it requires continuous upgrading of skills to embrace fast-changing new technologies, such as artificial intelligence (AI) and augmented and virtual reality (AR/VR).

Fintech

Digital transformation in financial technologies means harnessing the potential of digital technology and tools in all business areas to improve operations constantly. It also assists in developing a new business culture so that everyone in the business is comfortable with
tools and processes and knows how to use them to continually bring a company closer to its customers, even as the business environment changes and customer expectations evolve. In other words, it is a continuous process driven by innovation, data and technology to keep up with high customer expectations.

FAQ

Why do businesses need digital transformation?

Digital transformation drastically changes the ways companies operate, including but not limited to such benefits:

• Optimized data control

• Sufficiently better customer experience

• Higher profits and ROI

• Better productivity and enhanced efficiency

• Insights about customer care obtained from the data

Which industries could benefit from digital transformation?

Digital transformation can benefit each industry, from fintech to education. Even though the impact of digital transformation will be different in each industry, its scale will depend on the following factors:

• What type of technology does the industry need?

• How advanced is the technology for the specific industry?

• What types of technology would better benefit the industry? E.g. software or hardware.

When is the optimal time for the company's transformation?

As a general rule, the sooner, the better.

Companies should stay ahead of the curve rather than try to catch up to it.

The right time to carry out the company's digital transformation depends on various factors, which are:

• The marketplace or the industry of operation

• Limits of the budget

• The long-term strategy of the company

Other factors influence the transition, including legislative or government regulations. The fintech and healthcare industries have much more policies to consider than, for example, the education industry does.

What are the five main sectors where you could apply digital transformation?

The five main areas in which you could start your digital transformation journey are:

• Reconsider your business's strategy of growth fueled by modern technology.

• Reimagine your enterprise, putting the technology at its heart.

• Embrace the new tech practices to experiment and make your organization agile.

• Adapt the innovative technologies for your team and establish a robust technological basis for possible organizational change.

What is an example of digital transformation?

You can imagine two similar companies which focus on products for customers. While one has digitally transformed their enterprise, another hasn't. The second one follows the customer orders for production and realization of their goods. The company, which has chosen a path of digital transformation, deploys all the benefits of real-time data and technological insights to predict which products will be in demand for the customers in the nearest future, where and how their inventory will deplete, minimizing the day-to-day repetitive tasks. The company, which has chosen a path of digitalization, will maximize its efficiency while predicting customer needs within the observable future.

Need help with your digital transformation? Let us digitally transform your enterprise! Contact us!