“Digital transformation” is likely to be one of the most overused terms of recent years – not only in IT, but also everywhere else: in the news, business meetings, the media, everywhere. But what may be surprising to you is that most who talk about it do not seem to have any proper idea what it actually means.
A manager proudly announces that they are working on an electronic customer file and thus are regarded a digital leader. The next one talks about their e-commerce strategy, the third one about their cloud strategy and yet another one about platforms and API economy. And of course all are self-proclaimed leaders of digital transformation.
Obviously, all of them talk about very different things. But what is digital transformation truly?
No one is sure if there still is a simple answer to this question. Popular topics tend to become a plaything of multiple interests. As a result the topic becomes blurry and the discussion filled with a lot of hoo-hah.
Yet, here is what we can offer you about the topic so far.
Digital transformation is about two things:
- Technology evolution
- Business evolution
and how those two evolutions affect each other. Based on observation, the digital transformation takes place in waves. Many small waves sum up into a few big waves. The big waves are defined by their effect on the business, not the technology.
That is the core of “digital transformation”: something non-technical becomes digitally transformed, i.e., IT becomes part of something that did not include IT before.
Business agility, resiliency and productivity are the most important factors in determining the success of any organization, irrespective of its size. Numerous business owners realized this fact, especially in the midst of the global pandemic. According to a report by Harvard Business Review Analytic Services and Quick Base, in 2020, many companies changed the way they operate their business and 53% of the executives stated that “improving business continuity and resiliency is their primary business goal.” To achieve this, enterprises are riding high on Digital Transformation.
Digital transformation is a very suitable option for you if you are looking to reform the way you conduct your business and run your operations. The only question here is, how? Like every new technological solution, digital transformation also comes with its pros and cons. So, how can you ensure that you adopt the best practices while implementing it in your business and avoid as many risks as possible? The answer to these questions is rather basic – Digital Transformation Strategy.
What is a Digital Transformation Strategy?
In simple words, a Digital Transformation Strategy is a detailed roadmap of the methods you plan to adopt in order to digitally transform your business seamlessly and easily tackle any challenges you face on your path towards the transformation.
A digital transformation strategy is of extreme importance to ensure:
- Realigning entire business model with an acute focus on Customer Experience.
- High value and outcome-driven technological initiatives.