Digital transformation is the digitalization of every sector, vertical and industry. It’s not just companies that are moving to a digital world – it’s human beings too. In an increasingly digital world, companies of all sizes need to digitize their business models, strategies and processes while simultaneously challenging incumbent modelers through technological innovation. This article will explore what this future-looking term “digital transformation” actually means and why it matters so much for businesses of all sizes.
What is digital transformation?
Digital transformation is the movement of information and communications technologies (ICTs) to a new level of complexity and interdependency. Digital transformation is a revolutionary change in how businesses communicate, learn and create. Digital transformation is not just about the delivery of digital services – it’s about how businesses use digital technologies to create value. There are a number of different stages that the term digital transformation could be used to describe, with the most common being transformation, acceleration, and disruption.
Why is digital transformation important?
Successful transformation requires a thoughtful and strategic approach. By understanding where transformation fits within the larger context of business transformation, organizations can better understand their processes and goals, and make decisions that are best for their business. Successful transformation is a two-step process. First, an organization needs to identify its business challenges, and then it needs to conduct a transformation journey to re-examine what’s working and what needs to be changed. This process becomes increasingly complicated the larger an organization is, as it requires parallel efforts from business leaders, IT and management, and sometimes sales and marketing. The most successful companies are those that understand the importance of digital transformation, plan for it, and execute it successfully. That’s why digital transformation is important for businesses of all sizes – it affects everyone working in the company, and it has a huge impact on the customer. Check: digital transformation trends 2023
6 Steps to Take When Completing a Digital Transformation
The best companies in the world are those that have been through a digital transformation journey. Digital transformation efforts are messy, challenging and rarely successful without a lot of pain. If you’re going to undertake a transformation, make sure to take the following six steps before beginning the journey. Start with a case study. This will help you understand what your company’s challenges are, and how you got to where you are today. Conduct a “risk assessment” to determine what risks exist and what steps need to be taken to mitigate those risks. Use a BPMN/2 tool to capture all the activities and interactions that took place within your company. Next, identify the “what” of your transformation. What are you trying to accomplish with your new digital transformation strategy? What are your short- and long-term goals? What does it all mean? Finally, create a “why” – why does this transformation matter? What does it mean for your customers, your employees, and your shareholders? For example, a company’s new digital transformation could lead to:
Bottom line
Now that you know what to expect from digital transformation, it’s time to get started on the transformation journey. One of the best steps toward transformation is starting small. You can begin by capturing your business goals, mapping out your current processes, and identifying what needs to be done and why. Next, you can begin the transformation journey by identifying your short- and long-term goals, and then start working on those goals.
