- October 5, 2018
- Posted by: Support Team
- Category: Blog
What is Digital Transformation?
Digital Transformation is the profound transformation of business and organizational activities, processes, competencies and models. This is done to fully leverage the changes and opportunities of a mix of digital technologies and their accelerating impact across society in a strategic and prioritized way. This is done with present and future shifts in mind.
Business transformation is a journey with multiple connected elements. Including intermediary goals, in the end, striving towards continuous optimization across processes. divisions and the business ecosystem and building the right bridges.
Digital Transformation Strategy
It is the creating capabilities to fully maximize the possibilities and opportunities of new technologies. In return the impact is faster, better and in more innovative way in the future. A digital transformation journey needs an approach with a clear road map that takes into account that end goals will continue to move.
Examples of transformation strategies companies use to drive change into the entire organization are;
1. Look past your competitors – stop being afraid and look beyond your own industry for both inspiration and insight
2. Ask your customers – have a clear understanding of your target audience
3. Use executive influence – Some executive teams in large organizations are launching innovation hubs to do the digital thinking for them. This strategy can be effective when there is a specific plan to test digital initiatives.
4. Align your company culture – You must have the right culture that will sustain the digital transformation in future
Who is a Digital Leader?
Is an organization that is entirely digital across major functions. They view as more important for their strategic goals than their competitors. They tend to be globally integrated and more effective at sharing information . The end result of being a digital leader is all about becoming united and how you make your team feel.
When your team feels empowered, you can achieve more things. Now more than ever it is possible to become united through digital channels. Leaders today take advantage of technology like digital, mobile and social tools in order to be the most effective and inspire their teams.
What to consider in digital Strategy?
Any digital strategy will depend on what type of company you operate and where it is located. IT is drastically different around the world and it is more important to certain cultures than it is to others. Some areas of the globe care more about certain digital channels than others, as well. It all depends on what makes sense for your company at a given point in its development.
Advantages of Digital Transformation
- Enhanced Customer Acquisition and Retention
It reinvent the offerings and the reach of enterprises, providing access to larger online markets that are currently out of reach.
- Streamlined Workflow and Operations
Digitally transformed business has powerful technology oiling the machinery behind internal operations, enabling teams to collaborate seamlessly across departments, and streamline communications across a whole workforce and supply chain. The ability, for instance, to share material and inventory data from the warehouse can quickly and efficiently determine production levels and shipments from the manufacturing plant. This level of digital structuring on every operating level enables accurate sales and income forecasts, which in turn facilitates the company’s ability to plan for future growth.
- Global Reach
The advancements in digital technology has enabled the globalized marketplace. Advancement in cloud technology in particular has removed barriers to entry for even the smallest companies to expand as far and wide as they like. Geographical location is no longer an issue for a growing company, as cloud resources are accessible anywhere with an internet connection. Communication processes – even across borders are streamlined and comprehensive. There is no limit to a company’s world-wide reach.
- Gained Insight and Foresight to Improve Management and Marketing Decisions
Program will streamline management on every level. Digital tools will gather, analyse and visualize data gathered from every corner of the enterprise. From this, predictive models will be produced to help CEOs and managers identify business opportunities and risks.
- Quick Development of New Products and Services Going Forward
The implementation of modern systems and technology will aid in various aspects. Such as market research, production and all new services. Campaigns and products, ensuring that, once regained, their place in the modern market.