Leading digital transformation in your financial services business is no easy feat. Success rests heavily on your shoulders, so you need every weapon in your arsenal to ensure your teams execute it smoothly with minimal disruption. One vital weapon you should employ at every transformation phase is quality assurance and testing.
So, how can QA and testing fuel a successful digital transformation for financial services businesses? What are the key benefits of hiring a QA and testing team? This article answers those questions and explores the importance of QA & testing for your digital transformation’s success.
What is quality assurance and testing?
Quality assurance is the process of developing a proven framework to test the functional and technical elements of your software development process. Coupled with QA processes, QA and testing professionals employ continuous testing practices to improve quality, reduce timescales, and lower testing costs.
Our experts use quality assurance and testing to identify any errors, deviations, or redundancies within your digital transformation software or processes to mitigate risk, save time, and ensure your software is ready to go live.
Our QA and testing experts collaborate closely with anyone involved in your Software Development Life Cycle (SDLC), like software developers, data scientists, and business analysts, to orchestrate efficient testing processes across the entire digital transformation strategy.
Why QA and testing is vital for digital transformations
Without quality assurance and testing, you risk unnoticed defects or inconsistencies sending harmful shockwaves from your operational infrastructure right down to your customers. If you don’t manage change effectively, your customers will feel it – impacting your reputation and profits.
Not having a robust quality assurance (QA) and testing strategy in place heightens the risks of delays, expensive fixes, and compromised quality – factors that threaten your digital transformation and business success. Here are the many ways QA and testing will reduce these risks and secure your transformation’s success.
1. Increase time efficiency
Implementing QA and testing strategies at the end of your SDLC only, rather than throughout the entire lifecycle, can cause preventable errors to become significant problems. Identifying a mistake in the beginning takes less time to fix than if you noticed it at a later stage – as there are fewer components, processes, and systems affected.
2. Avoid unnecessary costs
Carrying out consistent quality assurance and testing inherently leads to cost savings. By highlighting issues, inconsistencies, or defects from an early stage, we prevent avoidable repair or return costs down the line.
3. Minimise knock-on effects
One small defect on a piece of software can lead to something of a “butterfly effect” and cause significant damage once you scale that software. So you must measure every single element of your software development process for quality and efficacy.
4. Make informed decisions
Considering digital transformations are in constant flux, with opportunities for innovation around every corner, it can be tempting to rush updates so you can stay ahead. QA and testing will help you decide whether updating a specific app or adding a new feature will be wise and profitable and arm you with the reassurance you need to implement an update faster.
5. Optimise production
With every component of your digital transformation working as it should, there are fewer operational, functional, or technical issues to contend with – leading to more productivity and an overall higher quality result.
6. Protect your reputation
It can sometimes feel like you’re only as good as your last online review in this increasingly online-focused digital economy. QA and testing are critical to consistently maintaining and improving your quality standards, so you can preserve customer satisfaction, trust, and loyalty.
7. Accelerate growth
Implementing a comprehensive QA and testing strategy across all phases of your transformation is instrumental in the continuous growth of your business. By minimising risks and maintaining quality, you’ll be able to harness the full power of digital applications to increase productivity, cut costs, and streamline processes.
8. Empower teams
Your QA and testing team almost act as an extension of your internal teams, giving them the testing results they need to make confident decisions. With solid QA and testing support, those involved in your digital transformation will feel more in control, empowering them to improve quality and consistently innovate – bringing in more profit for your business.
9. Stay agile
To keep up with the superspeed pace of The Information Age and changing consumer needs, companies need to be ready to innovate and proactively respond to new trends. The best way to increase agility and responsiveness is by implementing a testing strategy that reduces your go-live timeline.
10. Deliver better experiences
By using QA and testing to assess the quality of your products and services, you’ll have more profound insights into areas for improvement, strengthening the product at every stage of the development lifecycle and, therefore, customer satisfaction.
Ready to create your quality assurance and testing strategy?
We hope reading this blog has given you an insight into the role of quality assurance and testing in successful digital transformations. To compete in this ever-evolving digital world, quality assurance can serve as an extension of your development team, helping you innovate faster and deliver a first-class, consistent customer experience.
If you’d like to learn more, don’t forget to check out our recent blog on creating your financial services digital transformation roadmap. And if you’re ready to secure your digital transformation’s success for your financial services business, talk to our quality assurance and testing experts today.
At Assured Thought, we listen closely to understand your organisation’s unique goals and challenges to develop a bespoke testing and quality assurance program to complement your objectives. Our testing solutions are delivered by QA and testing professionals and integrate seamlessly into your team to help you accomplish short and long term digital transformation goals.
Get in touch with us today to develop a tailored testing strategy for your financial services business.
