According to a study by IBM’s Institute for Business Value (IBV), 50% of consumers say they’re willing to pay a premium for sustainable brands. This underscores the importance of sustainability as a critical consideration for businesses in today’s economy. But sustainability isn’t just about marketing – it’s also about making your company more efficient and environmentally friendly. That’s where digital transformation comes in.
Digital transformation can help businesses achieve sustainability in several ways. Here are eight reasons why your company should leverage digital transformation to become more sustainable:
In a world where resources are increasingly constrained, it’s essential to ensure that your company uses them efficiently. Digital transformation can help you do just that by enabling you to track and manage your use of resources more effectively.
Digital transformation can help you identify and eliminate wasteful practices within your organization. It can also help you automate processes and make them more efficient.
Sustainability is all about innovation. Digital transformation can help you develop new sustainable products and services by giving you the ability to gather and analyze data more effectively, test new ideas quickly and cheaply, and scale up successful innovations.
As sustainability becomes increasingly important to consumers, businesses that can tap into this growing market will be well-positioned for success. Digital transformation can help you identify and target new sustainable goods and services markets.
Employees are a critical part of any sustainability effort. Digital transformation can help you engage employees in sustainability efforts by providing them with the tools and information they need to make a difference.
Sustainability is not without its risks. But digital transformation can help you manage these risks by providing you with better data and insights and by helping you develop plans to respond to sustainability-related challenges.
As sustainability becomes increasingly important to businesses, it’s also becoming critical to the people and organizations they work for. Digital transformation can help you build trust with stakeholders by making it easier to communicate your sustainability efforts and track your progress.
Sustainability is not just about doing good – it’s also good for business. Numerous studies have shown that sustainable companies outperform their less sustainable counterparts. Digital transformation can help you improve your bottom line by making your company more efficient and reducing your costs.
As you can see, digital transformation can play a vital role in helping businesses achieve sustainability. So if you’re not already leveraging digital transformation to become more sustainable, now is the time to start.