Whether you like it or not, digital transformation becomes the most important piece for any business, from small to top companies. Every article, studies, and discussion conclude that if you want to succeed in this today’s competition, you need digital transformation.
With that said, however, most leaders and companies do not have a true understanding of what it is. Some think that it is just a new hype product that surfing around.
In this post, you will discover the truth of what digital transformation really is. These include its importance, definition, role, and many more.
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What is Digital Transformation?
One reason why people get confused about what this solution is, it is because the digital transformation will look different for every business. When your company applies this method, it will completely different from what you saw from another enterprise.
Digital transformation can be defined as an integration method that combines digital technology into all areas of your business. It then results in improvement and changes to how your business work or operate.
Moreover, this process can be considered as a cultural change that pushes companies and enterprises to improve their status quo, experimenting trial and error. In other words, this system can change your entire business process, building new and improve practices that result in huge success.
Why Does It Matter?
There are pretty good reasons why you need to pursue digital transformation. One of them is, every companies and leader agree, the essential process for a business to survive.
One of the Guardian contributor, Howard King, said it the best, claiming that transforming your business is never was a choice even it is risky or expensive, but it is the thing that you need to do when you cannot evolve or improve anymore.
Research director from Worldwide Digital Transformation Strategies, Shawn Fitzgerald, said that by the year 2020, 30 percent for companies will reserve 10 percent of their revenue to invest in digital transformation strategies. Most leaders will have a clear understanding that this process in a long-term investment that will continue to improve their company’s performance and profits.
According to research from The Hackett Group, last year, companies have been investing in advanced analytics, helping them in the digital transformation process, by 75 percent. Thus, the data shows how a leader is giving importance to this method.
There is no denying that each company has a different digital transformation journey. Still, the speed of the process is a crucial part for everyone. To achieve a better result, you must have undivided support from your IT leaders which can translate to increased agility and speed for the process.
Things That Drives Digital Transformation
One element that can drive digital transformation the most is, obviously, technology. However, most leaders got it all wrong. It does not mean that you have to acquire the latest material or equipment. On the other hand, it is all about learning how to use or adapt them.
Even if you have the latest technology at your disposal, it would still be a waste if your company does not know how to use or operate it. Thus, make sure you apply digital adoption technique first.