Is your organization embracing digital transformation? What is digital transformation exactly? And if you are not embracing it, should you?
In a recently published article entitled, “Unleash the Digital Transformation,” author and expert, Kadamb Goswami, writes:
“The world has changed. We’ve seen massive disruption on multiple fronts – business model disruption, cybercrime, new devices, and an app-centric world. Powerful networks are crucial to success in a mobile-first, cloud-first world that’s putting an ever-increasing increasing amount of data at our fingertips.”
Organizations need to evolve to address the changing business landscapes. Digital transformation is business transformation. Some prefer to use the term “digital business transformation,” which is more in line with the business aspect of the transformation.
Goswami suggests that these digital business transformations are influenced/driven by the following factors: Technology innovation, customer behavior and demand, and external environmental factors. “The basic challenges facing businesses today are the same as they’ve always been: engaging customers, empowering employees, optimizing operations, and reinventing the value offered to customers,” he writes, adding that although this is true, there has been some changes, and what has changed is the unique convergence of three things, which he lists below:
Increasing volumes of data, particularly driven by the digitization of “things” and heightened individual mobility and collaboration
Advancements in data analytics and intelligence to draw actionable insight from the data
Ubiquity of cloud computing, which puts this disruptive power in the hands of organizations of all sizes, increasing the pace of innovation and competition
Digital business transformation is the ultimate challenge in change management. It impacts not only industry structures and strategic positioning but it affects all levels of an organization (every task, activity, process) and even its extended supply chain.
Goswami argues that business leaders must constantly challenge their organizations to ensure this change can unlock productivity gains and significant competitive advantage all while delivering exceptional customer experience.
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