If digital transformation is a new concept for you or your organization, you most likely have a lot of questions. This article aims to answer those questions so you can get started with your digital transformation strategy.
A digital transformation strategy is a detailed plan of action that describes how an organization can change its processes, approach, domain, or culture by leveraging technology to solve key organization or industry issues.
The four main areas of digital transformation are:
Business process transformation refers to radically changing business processes, workflows, and business functions, typically by incorporating new technology.
Business model transformation means the change in the business source of revenue, target customers, or product offering.
Domain transformation is the transfer or expansion of the market domain or industry a company is targeting.
Cultural or Organization transformation is the shift in the mindset, skills, and behavior of all the members of the organization.
There are several factors that drive digital transformation in industries and organizations. The most common ones are:
There are many reasons why digital transformation is important but at its very core, it keeps businesses from being irrelevant and obsolete in a technologically-driven world.
Some of the most common benefits of digital transformation are:
A digital transformation consultant provides guidance and advice to organizations who wish to solve their problems through radical and strategic changes in one or multiple aspects of their business with the help of technology.
A lot of digital transformation is driven by the need to constantly improve the customer experience. This stems from the stricter demand of customers for more personalized, secure, and smooth digital experiences. Better data and insights collection brought about by digital transformation is making this much easier for companies.
A digital transformation strategy may be considered finished if all of the tasks set in the beginning have been accomplished. However, digital transformation does not stop there.
Monitoring the impact of the changes implemented is important to know if more changes have to be done. Gartner also introduced the ContinuousNEXT approach which is the readiness of organizations to constantly evolve after a digital transformation. This includes monitoring emerging technologies and competitors.
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