What Is Digital Transformation?
Digital transformation encompasses all transitional efforts in which businesses adopt digital technology, digital business practices, and a digital culture.
Digital transformation is not the same as an implementation of new software or technology.
The term also includes:
- Cultural shifts
- New business processes
- Digital adoption of new technology and software
- Transitioning to business models that are more agile, customer-centric, and data-driven
The idea of digital transformation has become integral to competing in the current business climate.
After all, technology is continuing to evolve and businesses that don’t keep up will be left behind.
Benefits of digital transformation include — among others — staying relevant in the eyes of customers, gaining an edge in the marketplace, streamlining internal processes, cutting overhead costs, and boosting revenue.
As mentioned, digital transformation often entails the evolution of existing business models.
Here are a few examples of digital transformation in action:
- Augmenting and automating portions of customer care with chatbots
- Using digital adoption platforms (DAPs) to streamline employee onboarding
- Implementing digital automation platforms to automate repetitive tasks
- Embracing a digital workplace that is less dependent on being co-located or working in a physical office
The world itself is undergoing an extensive, deep technological transformation.
It is clear that digital evolution is only going to continue.
Businesses that transform with the digital economy will stand a greater chance of surviving and thriving as the world continues to move forward.