It is not about Digital Transformation; it is About Transformation in Digital World
When you shift the traditional routine of doing business to the modern technology platform, its digital transformation. The profound transformation of business and enterprise activity, processes, competencies, and strategies leveraging the digital mix of technologies brings about a disruptive innovation in an organization.
“The secret of change is to focus all your energy not on fighting the old but on building the new”. Change is imperative; so is a digital transformation for all businesses. To which industry you belong is irrelevant, what matters is, are you willing to adopt it or not. Industries, such as logistics, medical, software, travel, hospitality, and commerce are ahead in the race, offering wholesome experience to their customers and employees with an innovative business application built using advanced technologies.
What is Digital Disruption Anyway?
It is the adoption of digital solutions, business model, an approach that is responsible for a substantial shift in customer behavior and market context, requiring existing players (which can include ‘digital businesses’) to change their strategies as well. Due to increased mobile penetration and connected world Internet of Services, as the Internet of Things is enabling it, started playing a crucial role in digital transformation.
Factors Driving Digital Transformation
- Technological Innovations: The speed at which technology is evolving is more impactful more than ever before. Nevertheless, technology change isn’t alone responsible for transformation, but it is also, about how it is used and adopted by customers, partners, competitors, and stakeholders.
- Customer Behavior and Demands: This alleged customer behavior or customer induced information has nothing to do with the technology. On the contrary, technology is an enabler that causes and brings about change in customer behavior and expectations when used by businesses. This is probably the best example to demonstrate how organizational disruption is not caused by technology but merely strengthens it when combined with other factors.
- Innovation & Invention: Entirely innovative approach to address human and business challenges that create a new reality either in science, technology or in non-technological context bring about disruption not only in businesses but also in human lives. The invention of phones changed the way people used to communicate and now smartphones are changing the way people communicate with businesses.
- Ecosystem: Economical changes, driving need and demand from partners or stakeholders to adopt digital technology and bring about regulatory changes in the organization. Sometimes political and transformational ecosystems is also a major enabler of digital transformation.
Other Factors Leading to Technology Adoption
The Altimeter released “The 2016 State of Digital Transformation” survey report in September 2016. According to the report; although, IT and marketing influenced major investment in technology, customer experience was the major player that drove a rising interest of enterprises in digital transformation. Besides, accelerating innovation, modernizing IT infrastructure and improving operational quality are the three major players accelerating organizations initiative to adopt digital technology.
Transform & Transcend with Digital Technology
You have to manage your business presence by competing in an age where customers dominate technology. In fact, change in technology evolves from the core of customer experience and expectations. The only thing that guarantees the survival of your business is adopting digital technology as soon as you can. You have to act like a digital business leader by shaping when and how of your digital strategy. Remember while focusing on offering digital customer experience you must drive agility and efficiency. Yes, this is a tough challenge but few organizations have already achieved it and many are on the way to achieve it.
Since centuries business evolved by constantly changing and innovating. Technologies on the other hand always came with challenges and opportunities; whereas, regulations and ecosystems have always germinated. That is nothing new. Therefore, when we are speaking about digital transformation, it is not just embracing new technology, but it is also about bringing disruptive change in the thought and culture of an organization. Similar to social business, digital business and any other forms of customer-centric marketing and business processes, requires the ability to work across silos. In many cases, digital transformation even is about totally reworking organizational structures, which can be as much about collaborative methods, Centers of Excellence as removing specific silos. It requires a strategic approach, maturity models, benchmarks and the end goal making it a journey.
Are you interested in reinventing your business by balancing your competing priorities? Do you want to become a digital enterprise and accelerate innovation? Contact Us for seamless digital transformation