In a world that is increasingly connected by and dependent upon technology, digitization is an important way for organizations to remain modern and relevant.
Taking advantage of the global digital transformation allows companies in both the business-to-business and business-to-consumer spheres to enhance their performance across key operational areas and create new value for their customers.
In a recently published article entitled, “Capture Value with the Right Digital Strategy,” author and expert, Koert Breebaart, writes:
“Now that most companies are starting to rethink their business processes with the idea of digitization, a series of questions pop up: ‘Is our strategy still relevant? Can we be successful in the digital economy without changing our strategy? Or should we reconsider?’,” adding that digitization is commoditizing services, so companies need to think carefully about how they stay relevant, compete, and grow their business.
“Traditional retailers that have entered the e-commerce space can’t compete with Amazon. Amazon’s market value increased 1,910% in the past 10 years, while the likes of Best Buy, JCPenney, and Macy’s have seen a 50% decline in market value.”
Breebaart argues that a well-defined and developed digital strategy will:
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Create intellectual property
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Evolve and create products and services
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and, expand your global presence
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