Tag: Transformation

Why and How to transform your traditional business into a tech-driven one

As Winston Churchill said, “we should never waste a good crisis.” The biggest positive of the COVID-19 pandemic is that it has pushed us to rethink our potential and ensure that we prepare ourselves for future challenges. The pandemic kept us indoors for almost a year. There was a sudden mushrooming of apps providing a range of services. Digitization practically saved us during the crisis. Some businesses lapped up the technology and others who were slow to respond perished.

Crisis or no crisis, it is certain that technology is fast advancing, and organizations that do not adapt risk becoming obsolete. If you’re looking to stay ahead of the curve, now is the time to ramp up technology in your business. This blog post will outline why and how to build a tech team that transforms your business.

Why is digital transformation a necessity?

With the advent of new digital technologies, customers increasingly expect businesses to offer digital solutions and services. At the same time, new digital competitors are emerging, offering innovative digital solutions that can quickly capture market share. To stay competitive, businesses must embrace digital transformation and adopt new technologies and solutions.

Some of the benefits are:

  • Changes the Customer Experience
  • offers data-driven insights
  • Encourages teamwork and improves employee satisfaction
  • Improve agility and innovation.
  • Encourages a digital culture
  • Improve skill set and knowledge
  • Process and operations are streamlined

The advantages are many, and the time to act is now!

How to achieve digital transition?

Some companies are starting to see a real impact from their tech transformations. In a McKinsey study, around 50% of surveyed companies reported a moderate to significant impact on realizing new revenue streams, almost 70% reported an impact on increasing existing revenue streams, and 76% reported an effect on reducing costs.

Tech transformations, nonetheless, remain notoriously difficult and complex. Commercially, businesses are seeking the most effective methods to integrate digital into their operations. Among these methods are:

Creating a new digital business model: Customers now expect a tailored and seamless experience from the businesses they patronize. Hence, rethinking a business model is the cornerstone of the digital transformation of your business.

Implement personalization without impacting privacy: Personalisation has become essential for businesses that want to create a lasting connection with their customers. By tailoring communications to individual consumers’ specific needs and interests, businesses can create a more personal, engaging customer experience that builds loyalty and strengthens relationships.

Having said that, the most crucial aspect of digital transformation is building the right tech team.

Digital transformation is about talent, not technology

Harvard Business Review maintains that contrary to general opinion, digital transformation is less about technology and more about people. You can buy almost any technology, but your capacity to adapt to an even more digital future depends on cultivating the next generation of talents, bridging the talent supply-demand gap, and future-proofing your and others’ potential.

Focus on employee onboarding: As businesses increasingly move towards a tech-driven model, it is essential to focus on employee onboarding and training. After all, the transition will be significantly easier if your employees are equipped to handle the new technology. 

Fortunately, there are several ways in which companies can accelerate digital innovation.

a. Prioritizing institutional knowledge for balance

In order to accelerate digital innovation, companies should prioritize institutional knowledge and find tech talent to integrate with legacy employees with domain expertise. New tech talent brings fresh ideas and perspectives that can help solve problems in new and unique ways. However, they may not have the same deep understanding of the company’s core business and processes that more experienced employees have. Bringing them together will build a tech team perfect for growth.

b. Go beyond the three ‘D’s of digital roles and skill sets

Beyond the designers, developers, and data scientists that everyone is vying for today, it may be clever to consider what new professions may arise as digital disruptors. Perhaps you’ll need an AI specialist in your Operations soon; if so, the time to start planning is now.

c.  A resilient future-proof workforce 

Once you’ve identified the skills and roles, build a tech team that will typically include internal people, external hires, partners, and freelancers. Empower your employees with continuous digital learning programmes, job mobility, and skill grafting to equip themselves and play their part in transforming your organization.

d. Balancing AI with tech talent

To fully keep up with the flood of AI-based applications and innovation opportunities, you must immediately create a balance between machines and people. This entails challenging decisions about reskilling, moulding talent, and ensuring your staff is the right size.

How can iView Labs assist you in building a tech-driven business?

iView Labs can serve as your potential tech partner to help transition your business into a tech-driven one. As the business world iView Labs understands the importance of being technology savvy and up to date with the latest tools and trends. iView Labs can also help you build a tech team within your company. iView Labs has a decade of experience helping SMEs transition into tech-driven businesses. We also assist CTOs in building remote development teams.
To learn more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs, write us an email at info@iviewlabs.com and sales@iviewlabs.com. Download the latest portfolio to see our work.

How Estonia is Creating Waves in the Field of Healthcare / How Estonia is teaching the world a lesson in digital health

Estonia has come to be known as a digital-first nation providing its citizens with solutions such as i-voting and e-residency. Furthermore, it has been in the vanguard of digitizing healthcare too. With a population of just 1,328,046, this small EU member is spearheading the digital healthcare phenomenon.

 A favorable place to do business, Estonia welcomes people from all walks of life, due to its agile methods and openness to innovations. It has become the playground for several tech tycoons and healthcare investors. Today, Estonia ranks first in the Digital Health Index with an incredible e-health score of 81.9. It set high standards for Electronic Health Record systems (EHRs) and the rest of the world is anticipated to soon follow suit.

The emergence of Coronavirus was a pivotal phase in Estonia’s Electronic Health Record systems (EHRs) coming to the limelight. While most countries struggled to cope with the outbreak, Estonia’s digital health record systems made it easier for medical practitioners to devote more time to help combat the deadly virus.

Let’s take a closer look at how Estonia is embracing digital life and paving the way for a more comfortable and convenient healthcare system. 

A national database of digital medical records
Almost all of Estonia’s hospitals and doctors have digitized their patient data, allowing citizens to access their medical records with relative ease. There are close to 40 million health documents in the e-Health system. This straightforward procedure has sparked interest, with Denmark and Spain following suit. The EHR system benefits both patients and doctors because it saves time and allows for quick and precise diagnosis.

E-ambulance service at your fingertips

Another advantage of the EHR system in Estonia is the availability of e-ambulance services, which detect the position of the person seeking aid within 30 seconds, resulting in a faster turnaround time for treatment.  It also provides the medical personnel to view the medical records of the patient they are about to save. This enables on-the-spot treatment depending on the person’s previous medical history.

Hassle-free e-prescriptions

Another important digital solution that Estonia has mastered is e-prescription. A warning notice is issued when a doctor recommends a prescription that may interfere with the current medication a patient is taking. The doctor can then recommend a different treatment to avoid side effects or any other potentially dangerous medical scenario. The technology also generates e-prescriptions, allowing patients to obtain re-prescriptions based on the doctor’s recommendations without having to visit the hospital.

EHRs a reality or a pipe dream for India?

In the healthcare sector, India is still developing and needs to speed up the digitization process. Public-Private Partnerships (PPPs) have become a crucial facet of healthcare, and the government is slowly but steadily looking into them to provide its residents with the best-in-class healthcare facilities.

There are various obstacles to overcome on the way to making EHR a reality in India. Here are a few: 

  1. An expensive affair
    Hardware, software, employee training, network fees, and maintenance can all seem a bit pricey in the beginning.
  2. Data leaks
    Indians are still hesitant to share their personal information because they believe that data leakage is a major worry.
  3. Data migration
    Converting data from paper to digital records is a difficult undertaking.
  4. Training of medical personnel
    Doctors will need to devote additional time to learning and adapting to the new system.
  5. Lack of technical guidance
    Another issue that private and small health facilities confront is a lack of in-house technical assistance to ensure that EHR systems work smoothly.

What can India learn? 

For the health record of any individual to be of clinical value, it needs to cover the various staged of life along with every clinical encounter that the person underwent throughout these stages.  It hence becomes critical for the records to be available, in a chronological order to provide a summary of the various healthcare events throughout the life of the patient. 

India is still in the early stages of implementing EHR systems. India can successfully integrate EHR systems in the future if it focuses on the following factors:

The PPP Way:  A higher level of public-private partnership is required to address infrastructure shortcomings in the healthcare delivery system. The commercial sector must be aware of public health issues, as these will have an impact on healthcare’s overall success. The private sector has the ability to bring in massive quantities of money to build world-class healthcare facilities for the general public. Simultaneously, the public sector can provide the necessary subsidies and accessibility. To attain universal health coverage and offer high-quality care at a reasonable cost, PPP employs a high volume, low margin strategy.

Personnel Training: Transitioning from legacy systems to newer ways of keeping records could be challenging in the beginning. Doctors and healthcare personnel must be properly trained in order to be able to leverage the advantages of this system. It may appear time-consuming at first, but in the long term, it will save time and provide a more open and simple manner of dealing with health issues.

Uniformity: In order to ensure health records across systems, organizations and institutions can seamlessly sync with each other, certain homogeneity is required in the way the records are stored. Guidelines have already been established by the Ministry of Health and Family Affairs, keeping in view the suitability and applicability in India. Institutions across the country need to ensure that they comply to these standards to be able to contribute towards the larger objective. 

Security: Maintaining high level of data security to ensure sensitive data of patients is protected is a must. Drawing parallels, there was a lot of resistance to online payments in the beginning, but once the security and privacy concerns are addressed, people have readily accepted digital as a preferred mode of payment. E-HRs will be a similar story. 

The pandemic served as a wake-up call for several countries including India. We are compelled to steer away from the conventional healthcare models to more unconventional ones. E-HR is the next power move promising to uplift the health conditions and healthcare experience of the general populace. From luxury, it needs to become a basic necessity. And to make it a reality, India as a country, needs to learn from many other countries and move at an exponential speed to emerge as a forerunner in the digital healthcare map.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.com. Download the latest portfolio to see our work.