Digital Transformation Myths and Trends
Digital transformation is a term is still poorly understood, today, digital transformation as a business imperative is widely agreed upon. What, then, is a digital transformation in practice? Is it an IT project? Or the introduction of some interesting tools in the company? Or the addition of a mobility-driven customer relationship management (CRM) initiative to better attracts customers?
Digital transformation means exceptional customer experiences driven by new technologies
Digital has impacted not only channels and customers. It is disrupting organizations from within, changing the way they do business. Digital provides new opportunities for organizations that can adopt technology quickly enough. Accelerates time to market, reduces costs, and unlocks new sources of revenue.
The Forrester report says: Digital business is not just about the customer experience; It is also a way to boost operational agility. Digital operations can increase the speed of commercialization, make employees more productive, promote more agile processes, and maximize the use of assets.
Digital Transformation Guide is not about introducing some tools that are geared toward changing a particular facet of your business, be it employee collaboration or customer transactions.
Forrester’s report says:
Digital fundamentally changes its relationship with its customers. You can’t tackle this change with a digital strategy that adds an app here or a site there. To remain competitive, you must redesign how your business creates value for your customers in the digital age.
Re-imagine your business not as a bundle of products and services, but as part of the ecosystems of personal value that your customers bring together according to their needs and wants. Learn how to increase value by expanding your company’s role in your customers’ personal value ecosystems.
Digital transformation can only happen through disruptive technologies
Every digital transformation exercise doesn’t need to take examples of Uber and Airbnb in terms of using emerging technologies. The stack of technology you would use depends on the context of your business, and technological leverage is only part of the digital transformation. Sometimes, you can achieve significant improvement in productivity, agility, and customer focus through the use of proven operational technology (networks and databases) and strategic technology (enterprise resource planning or customer relationship management) or mobility.
Digital transformation cannot and does not need to be a sprint. It is a long journey with multiple points of contact and milestones; synergistic dependencies and efforts.
For example, your answers to the following questions will only help you develop a roadmap that takes digital transformation beyond IT.
The business success of the digital transformation
Does your current workforce constantly improve productivity and quality?
What steps have been taken to convince your investors of your digital vision and the long-term value creation of your digital transformation journey?
How much of your income comes from new digital business sources?
Do your business leverage analytics around customer data, operational data, and compliance?
Have you established training programs to bridge the digital skills gap and retrain your existing employees?
How are you empowering employees through digital channels to enable faster decision making and foster greater agility within your organization?