Non-tech companies are transforming into tech driven organisations effortlessly with time. Wanna discover how Nike, JPMorgan, Walmart, Starbucks did it ?
The digital revolution has disrupted industries across the board, compelling traditional non-tech companies to adapt and embrace technology-driven solutions. These organisations, rooted in traditional business models, are now recognizing the immense value of technology in staying competitive, driving innovation, and meeting evolving customer demands.
No one can deny that technological innovation and growth over the last few years have been immense and those who decide not to move with the time, stay behind.
Discover how these non-tech companies are transforming into tech driven organisations flawlessly with time. In fact, global spending on digital transformation is expected to reach $1009.8 billion by 2025, up from $469.8 billion in 2020, at a Compound Annual Growth Rate (CAGR) of 16.5% During the Forecast Period.
The journey begins with a mindset shift - a realisation that technology is not a threat but an enabler. Non-tech companies are proactively embracing digital transformation, understanding that it is essential for survival and growth. This transformation involves rethinking core processes, adopting new technologies, and fostering a culture of innovation throughout the organisation.
For example, The Home Depot invested billions in tech to bring an interconnected retail strategy to life.
Non-tech companies are harnessing technology to better understand their customers, enhance the customer experience, and build lasting relationships. By leveraging data analytics, artificial intelligence (AI), and machine learning (ML), these organisations can gather actionable insights, personalise offerings, and deliver targeted marketing campaigns. Technology favours the audience by helping them get exactly what they want, the format and channel are tailored to their choices, which makes the decision-making process much easier. Customer-centricity becomes a key differentiator in the tech-driven landscape.
For example, Shake Shack launched its own mobile app and website to enable online ordering and loyalty programs. By embracing digital channels, this non-tech company improved customer convenience and satisfaction.
Non-tech companies are recognizing the potential of big data and analytics to drive informed decision-making. They are investing in robust data infrastructure, utilising advanced analytics tools, and hiring data-driven talent. By mining and analysing vast amounts of data, these companies gain valuable insights into market trends, customer preferences, and operational efficiency, enabling them to make strategic decisions and optimise business performance.
For example, JPMorgan Chase employed more than 50,000 technologists who work on big data, machine learning, blockchain and more.
Technology-driven automation is revolutionising non-tech companies, enabling them to streamline operations, enhance productivity, and reduce costs. Through the implementation of robotic process automation (RPA) and intelligent process automation (IPA), repetitive and manual tasks are automated, freeing up resources for higher-value activities. This shift towards efficiency and automation drives operational excellence and agility.
For example, Walmart deployed robotic process automation and intelligent process automation to automate repetitive and manual tasks
Tech-driven non-tech companies are fostering a culture of innovation, encouraging employees to think outside the box and embrace emerging technologies. They actively seek collaborations with startups, tech partners, and industry disruptors to tap into cutting-edge solutions. This cross-pollination of ideas fuels innovation, drives new product development, and fosters a competitive edge in the market.
For example, Starbucks launched a digital innovation lab and partnered with Microsoft to create new customer experiences using cloud, AI and IoT.
To cater to the evolving consumer landscape, non-tech companies are establishing a strong digital presence and venturing into e-commerce. They recognize the importance of omnichannel strategies, seamless online experiences, and mobile accessibility. By embracing digital platforms, these organisations expand their reach, connect with customers globally, and open up new revenue streams.
For example, Nike invested in digital platforms, mobile apps and direct-to-consumer channels to connect with customers globally and increase online sales.
The transformation to a tech-driven organisation requires upskilling the existing workforce. Non-tech companies are investing in training programs and initiatives to equip employees with digital skills and technological literacy. By fostering a culture of continuous learning, these organisations empower their workforce to embrace and leverage technology, driving innovation and growth.
For example, AT&T launched a massive reskilling program to train its employees on cloud computing, data science, cybersecurity and more.
Traditional non-tech companies are transforming into tech-driven organisations flawlessly with time. By adopting technology-driven solutions, they are able to create value for their customers, stakeholders, and society. This transformation is an exciting journey that highlights the power of technology in shaping the business landscape. Through these strategic efforts, they are not only surviving but thriving in the digital age, positioning themselves as formidable players in the ever-evolving market. The digital age offers immense opportunities for non-tech companies to reinvent themselves and thrive in the new normal. The key takeaway is clear: embracing technology is no longer an option but a necessity for non-tech companies looking to succeed and remain.
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