Digital Transformation on a Dime: Why CIOs Must Do A Lot With A Little

Digital Transformation on a Dime: Why CIOs Must Do A Lot With A Little

As Covid-19 cases continue to rise at an alarming speed, changing the ways we live and work, digital transformation is no longer just a priority, it’s mission critical. As we discussed previously, companies that prioritize investments in technology reap the benefits, while those that remain resistant to change are getting left behind—and that gap has only widened with the pandemic.

Things already look different than what they did in March, when lockdowns took effect. Businesses had to adapt to the needs of a socially-distanced society, and pandemic life is becoming (dare we say it) a new normal. But, with this change comes a new set of challenges. Business leaders cite increased difficulty in maintaining employee communication, engagement, and productivity, up by 10% compared to the beginning of the pandemic, according to a recent study by the National Center for the Middle Market (NCMM)

Maintaining customer relationships has also gotten more difficult, with 57% of business leaders ranking this as a top obstacle compared to 48% in March. CIOs can address these issues by swiftly implementing digital tools and strategies that connect a scattered audience and enable greater knowledge sharing among employees, members or customers, but it’s easier said than done. 

So, what’s the hold up? Money, as usual. According to an earlier study by the NCMM, cost was already the most significant obstacle to digital transformation. As pandemic shutdowns increase the need for companies to digitally transform, they also negatively impact revenue and access to capital, tightening budgets across the board. And very often, the CIOs leading the charge on digital transformation are not in charge of their own budgets. A recent TCS survey found that CIOs develop digital transformation strategy at a whopping 75% of companies. But, that same survey found CIOs set digital transformation budgets at only 18% of those companies, with CEOs being the most common budget-makers. What does this mean? CIOs have to figure out how to do more with less—pushing for solutions that will have an outsized impact on their companies, on limited funds.

And it’s imperative now, with no end of remote working in sight. Aside from government mandates, many companies are adopting long-term, relaxed working policies. For example, Google announced last week it would be keeping its workforce home until at least summer 2021. You read that right. 2021. Many big tech companies are expected to follow. With the acceptance of long-term remote work, the need for tech tools that keep workforces efficient and remote operations running smoothly will only intensify. 

So how can CIOs digitize their companies on a dime? One cost-effective tool is no-code apps. These apps quickly and easily connect people and information in a customizable way, without the lead time or hefty cost associated with traditional apps. Think: one mobile hub where a sales team can flip through the latest new product features, employees can access the right resources right when they need it, wherever they are, and companies can notify customers of updates in real time. Highly-effective, cost-conscious resources like no-code apps are a quick way to optimize your business and embrace remote conditions.

At CatalystXL, we understand that many organizations are trying to do more with less, and it could make or break their business. With our platform, companies can launch a custom-branded mobile app in as little as 48 hours, at a reasonable cost. Plus, our easy self-administration panel means you can tweak your custom app as your priorities and information needs change.

Book a demo today, and see for yourself how CatalystXL provides the digital tools necessary to support your rapidly-changing business and your bottom line.