5 Reasons You Need a Digital Advisor in Today’s World

With the ever evolving world of VR, AI, blockchain, and social media, the digital world is almost impossible for anyone or company to keep up with. From trying to keep up to date with technologies to addressing cybersecurity threats and meeting evolving customer expectations, there are more digital demands for companies than ever.

There is a solution. A digital advisor acts as a strategic partner in all things digital, guiding businesses through these challenges. In this article, we’re outlining five compelling reasons why businesses need a digital advisor today.

Reason 1: Expertise in Digital Transformation

While many organizations understand the importance of technology, executing a successful digital transformation requires a large amount of specialized knowledge and experience. 

This is where a digital advisor can help by bringing expertise to three critical areas:

1. They excel at spotting growth opportunities. Analyzing your business processes, market position, and industry trends, they can identify precise points that deliver a robust impact. Examples include automating customer service workflows or implementing data analytics for decision-making.
2. They bring practical experience. Rather than taking a “trial and error” approach, digital advisors draw from their extensive portfolio of already successful implementations they have done or been a part of. They understand what works in the real world and can help you avoid the wrong technology stack or approach.
3. They excel at optimizing operational efficiency. Your advisor can help you create streamlined workflows that reduce redundancies, speed delivery times, and improve employee and customer experiences.

Recent research from McKinsey & Company reinforces this point: organizations that partner with experienced digital transformation guides are 2.5 times more likely to succeed in their digital initiatives compared to those doing it alone. This stark difference in success highlights the tremendous value that expert guidance can bring.

Reason 2: Building a Fortress of Digital Security

For businesses today, real cybersecurity has become much more than just installing antivirus software and being done with it. Companies of all sizes need some level of planning and defence from multiple angles to fully secure their data.

While you’ll likely want to consult a dedicated cybersecurity expert or company eventually, digital advisors can help guide you in the right direction for identifying and neutralizing the security threats most pertinent to your business. Depending on their level of expertise, they can help organizations build multi-layered security architectures that protect sensitive data.

They also foster a security-first culture, training employees to recognize and respond to potential threats as they occur. According to recent Deloitte research, companies with professional security guidance experience 47% fewer successful cyberattacks and recover three times faster when incidents occur, highlighting the power of support.

Reason 3: Maximizing Returns Through Smart Technology Investment

Digital advisors are experts at improving the bottom line. There are a few different ways they do this. They analyze your current technology stack, identify redundancies, and create strategic roadmaps that help you to make the best decisions that align with business objectives. Instead of chasing every new trend, they focus on solutions that deliver measurable ROI.

Gartner’s research shows that businesses working with digital advisors typically achieve 30% better returns on their technology investments compared to those going solo.

Reason 4: Navigating the Future of Technology

Digital advisors can also serve as your organization’s tech-trend compass. Helping you distinguish between what is necessary, practical, or just a fad in the industry. Rather than chasing every emerging technology and overpaying for mostly useless tech, they help you identify and adopt solutions that work and improve your business.

According to Forbes’ latest digital transformation report, companies leveraging professional guidance in trend adoption are 60% more likely to achieve successful implementation and see positive ROI within the first year.

Reason 5: Creating Your Digital Success Blueprint

Every business has its unique way of doing things and position in its industry like its market positioning and specific operational challenges. Digital advisors create personalized strategies that respect these differences. They begin by conducting comprehensive assessments of your current capabilities, culture, and growth objectives and only then figure out the right digital tools for your company.

Harvard Business Review’s analysis reveals that organizations using tailored digital strategies see 40% higher success rates in their transformation initiatives compared to those following generic approaches. The key lies in this personalized touch—creating solutions that fit your business like a glove.

Conclusion

By partnering with a digital advisor, businesses can gain enhanced cybersecurity and risk management, cost efficiency and ROI optimization, stay ahead of industry trends, and tailored strategies for business growth. 

Consider hiring a digital advisor to guide your business through its digital transformation journey. Get advice or explore additional resources to take the first step towards digital success.

FAQs About Digital Advisors

• What is a Digital Advisor?

A digital advisor is a professional or firm that specializes in providing advice to companies on the best ways to leverage the latest digital technologies, such as new software suites, AI, internal tools, networking, cybersecurity, and more.

• How Do Digital Advisors Improve Business Performance? 

Digital advisors can help with various business metrics. For example, they can help with creating strategic plans across sectors, optimizing costs within a project, and helping companies leverage new technologies as they come into focus.

• Can Small Businesses Benefit from a Digital Advisor?

Yes. Small businesses, in particular, benefit from the cutting-edge advice of a digital advisor. Where larger companies can hire teams of consultants, small businesses can leverage the competitive edge and dynamism of their more flexible business plan to take a digital advisor’s advice.