There’s no denying that the traditional office environment has evolved dramatically in recent years. With technological advancements, businesses are transforming their operations and adopting digital tools to streamline processes and increase productivity. Markets and Markets projected that the digital transformation market size is expected to grow at a compound annual growth rate of 19.1% reaching $1247.5 billion in 2026.
The COVID-19 pandemic accelerated the adoption of remote work, with many businesses shifting to digital tools to maintain productivity and collaboration. According to a Gallup survey, 56% of U.S. workers felt they could continue to perform their jobs remotely as pandemic restrictions are lifted. As of June 2022, 8 out of 10 workers were spending at least part of their work week remotely, with hybrid work on the rise. With businesses now needing to provide employees with the digital tools and infrastructure, this change in the nature of work calls out for solutions to empower teams working remotely.
As hybrid and exclusively remote work continue to dominate, it’s paramount to create an experience that complements and extends the concepts of physical offices to maintain healthy, high-performing teams. Welo offers virtual spaces designed to answer this need by enhancing collaboration and productivity within an increasingly digitized environment. Seeing the growth of this market, we decided to explore the impact of digitalization on productivity across industries, analyzing the data and examples that showcase the benefits of digital transformation.
The benefits of digitization
- Improved accessibility: Information is more easily accessible by allowing users to access it remotely from anywhere at any time.
- Increased efficiency: Digitalizing processes can streamline operations, improve accuracy, and reduce the time and resources required to complete tasks.
- Cost savings: Reduce costs associated with physical spaces, including storage, printing, and postage.
- Enhanced collaboration: Facilitate collaboration and efficiency by allowing multiple users to access and work on the same documents simultaneously.
- Better decision-making: Providing employees with real-time access to data and analytics can often enable faster and more informed decision-making.
- Greater security: Digitized information can be encrypted and protected by access controls, reducing the risk of unauthorized access and theft.
- Increased customer satisfaction: Improve customer satisfaction by providing faster and more accurate responses to inquiries and requests.
- Environmental sustainability: Replacing physical records with digital versions can reduce paper waste and carbon footprint, promoting environmental sustainability.
- Better scalability: Businesses are able to scale up or down their operations more easily, reducing the risks and costs associated with growth or contraction.
Employees also enjoy greater flexibility and richer collaboration, resulting in increased productivity. According to a study by Capgemini, digital leaders outperform their peers in every industry, achieving 9% higher revenue growth, 26% higher profitability, and 12% higher market valuation. This demonstrates how digitalization can have a significant impact on a company’s success.
Digitalization Across Industries
Digitalization is transforming multiple industries, from healthcare to manufacturing to education.
Healthcare providers are able to access patient information and medical histories with ease, allowing for more accurate diagnoses and treatment plans. Electronic health records (EHRs) enable healthcare professionals to share information quickly and easily, reducing the risk of medical errors and ensuring that patients receive the best possible care.
With manufacturing playing a driving role in GDP and employment for many countries, it’s critical that manufacturers embrace technology adoption. World Economic Forum reported that manufacturers performing digital transformation at scale were particular frontrunners, seeing their efforts multiply when rolling out new technology at multiple facilities.
Digital courseware has been shown to boost learning outcomes for students, improving their overall academic success. According to a report by Technavio, the global e-learning market is expected to grow by $247 billion until 2024, with digitalization being a significant driver of this growth.
Challenges and Solutions
Change often comes with challenges. Businesses undergoing digital transformation often face resistance to change and lack of technical expertise can cause friction. Investment in upskilling workers and providing training for new technology and processes is critical.
Change can also bring uncertainty and tension to a team; it’s important to allow teams to share the experience and support each other through the process. At Welo, we crafted programs to provide an easy on-ramp for moving into their virtual space and to invite their team members to contribute to the transformation process. Fast start and Learn Together are two parts of a journey designed to align your team to a new way of working together and overcoming the challenges mentioned above.
With Fast Start, each team has a short kickoff to help them be able to actively use the space within minutes. The kickoff event includes a quick introduction to the neuroscience of collaboration, move-in, and short activities to help them experience their Welo space.
We then move on to the next phase, the Learn Together program where we collaborate through experiments and learning loops to cultivate teams that thrive in a digital environment.
The digitalization of offices is transforming the workplace and enabling businesses to operate more efficiently and productively across industries. By embracing digital tools, businesses can achieve greater success and operate more efficiently, leading to a more productive and successful organization.
Welo is proud to provide a solution that fosters high-performing teams, innovation, and flow in the workplace by creating an adaptable virtual space that enables natural and human interactions, resulting in enhanced productivity and creativity. By integrating with existing platforms such as Zoom and Atlassian, Welo helps businesses streamline their tech tool set to empower, rather than overwhelm, their teams.
The future of work will continue to evolve, with digitalization playing a significant role in shaping it. It’s up to you to catch the train in time to be at the forefront of your industry. Welo is here to help.