It is no secret that an increasing number of businesses are taking steps to become a digital enterprise. Customers are expecting more than ever and demanding to be meaningfully engaged across channels. Fierce competition means that organizations are looking for ways to increase sales and turn one-time shoppers into loyal customers. Businesses are trying to enhance productivity and operate more efficiently. To complicate matters, the line between the digital and physical worlds keeps shifting and becoming increasingly blurred. Customers interact with businesses across both worlds, and employees need the ability to do the same. However, although most companies recognize the need for a digital transformation, many of them are not certain of the tools that they need. Microsoft Dynamics 365 can provide the tools that you need to make substantial progress on your transformation journey.
What Dynamics 365 Offers
When Satya Nadella became the CEO of Microsoft, he brought with him a desire to assist organizations with their digital initiatives by reinventing business processes. Dynamics 365 is part of Nadella's vision. The platform removes the barriers between data, business processes and people by unifying ERP and CRM capabilities, and Dynamics 365 is deeply integrated with PowerBI, Cortana, LinkedIn and Office 365. Additional modules are available for marketing, customer service, project automation, sales and other functions.
Dynamics 365 gives managers the insights that they need to make the right decisions at the right time. You can anticipate the needs of your customers, identify new opportunities and bring new products to market in less time. Because all critical aspects of the business are seamlessly connected, collaboration is facilitated, all departments can work from the same data, customer relationships can be strengthened and the company can be more agile than ever.
The Value of a Digital Transformation
According to a study conducted by Forrester Consulting for Microsoft, companies incorporating ERP, BI, productivity technology and CRM in their overall strategy for a digital transformation received significant benefits in various areas.
- 62 percent increased their customer engagement. For all others, the rate was 29 percent.
- 58 percent improved their operational efficiency, compared to 30 percent for all others.
- 57 percent reported increasing their customer retention rates. In the category of all others, the rate was 30 percent.
- 51 percent were able to increase brand recognition, compared to 32 percent for all others.
- 51 percent showed an increase in their overall revenue. The increase for all others was 32 percent.
- 49 percent stated that they increased innovation, more than twice the rate reported for all others.
- 49 percent experienced an increase in employee productivity. The rate was 34 percent among all others.
- 45 percent found new revenue streams, but only 24 percent of the others discovered new streams of revenue.
- 45 percent improved their rates for customer acquisition. The rate among all others was 24 percent.
The study found that only 2 percent of the respondents stated that their organizations were not planning to develop a strategy for a digital transformation. Less than half reported that a complete, detailed digital transformation strategy was in place. Approximately 39 percent reported having a limited strategy that focused on adding digital elements to their current business models rather than pursuing new models to fuel a growth in revenue. The remaining 12 percent of the respondents stated that they were still developing a digital transformation strategy.
Obviously, despite the amount of attention paid to digital technology in recent years, many organizations are still lagging behind. The business world is changing constantly, and companies must be able to keep up if they want to thrive. Dynamics 365 puts the power of Microsoft technology in your hands, helping your business to move forward in ways that would have been impossible only a few years ago.