You may have heard the buzz phrase ‘digital transformation’ being thrown about, but what exactly does it mean? There is a lot of misconception surrounding the concept so let’s break it down.
What Is Digital Transformation Put Simply?
In simple terms, digital transformation (DX) is the ongoing evolution of an organisations strategy to improve processes using new digital technologies. [Click to Tweet]
What Is Digital Transformation NOT?
Many organisations class some of their projects as ‘digital transformation’. However even if these projects play a part, they don’t add up to the transformative approach that is DX. [Click to Tweet]
For example, digital transformation is not:
- A new website or app – making products or services available online does not in itself constitute a digital transformation
- A service – a new customer service could be part of the process, but it wouldn’t be the only part
- A working practice – a new project management tool may make an organisation more agile, but not quite digitally transformed
DX is more an ongoing strategy of seeking to solve organisational and customer problems using the latest digital solutions available. Think analytics, smart embedded devices, mobility and virtual services. [Click to Tweet]
Why Is Digital Transformation Important?
Businesses are under increasing pressure to keep up with the competition by simplifying processes (i.e. doing more with less) and providing an excellent customer experience. The solution can be found in the advancing technologies that empower employees to achieve peak productivity and connect customers to suppliers in real time.
Digital transformation stats
- 85% of enterprise decision-makers say they have a time frame of two years to make significant inroads into digital transformation or they will fall behind their competitors and suffer financially. Forbes
- 56% of CEOs said digital improvements have led to revenue growth. Gartner
- 34% of companies have already undergone a digital transformation. Smart Insights
What are the benefits of digital transformation?
- Empower your employees with always available applications wherever they are
- Transform your processes and save time to create competitive advantage
- Engage your customers with multiple easy-to-access touchpoints
- Increase company growth as processes and customer engagement improves
- Future proof your organisation – stay ahead or fall behind
What Should A Digital Transformation Strategy Include?
Digital transformation will of course differ depending on the company, however there are a few constants and common themes found in published case studies and frameworks that all businesses should consider.
The Enterprisers Project noted the following elements that are often cited:
- Customer experience
- Operational agility
- Culture and leadership
- Workforce enablement
- Digital technology integration
While Altimeter identified six stages to digital transformation to help establish an organisations current position (including some useful checkpoints to help guide the DX strategy).
To begin investigating how your business can leverage tech, an understanding of the latest technological solutions is necessary. At Curveball Solutions we help organisations towards digital transformation with individual solutions.
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