What is digital transformation?
Digital transformation is imperative for all businesses, from the small to the enterprise.Because digital transformation will look different for every company, it can be hard to pinpoint a definition that applies to all. However, in general terms, we define digital transformation as the integration of digital technology into all areas of a business resulting in fundamental changes to how businesses operate and how they deliver value to customers. Beyond that, it's a cultural change that requires organizations to continually challenge the status quo, experiment often, and get comfortable with failure. This sometimes means walking away from long-standing business processes that companies were built upon in favor of relatively new practices that are still being defined
eMarketer defines digital transformation as the process by which business leaders harness the capabilities and advances of emerging technologies to digitally reinvent their company’s operations, products, marketing, culture and goals for future growth.
What does digital transformation mean ?
The term “Digital Transformation” has been overly used these days to describe anything and everything to do with technology in enterprises. While there are several academic definitions that describe “Digital Transformation”, it does not help business users or in some cases even technocrats to understand it fully and its implication on their business area or function.With the advent of several new digital technologies like Social, Mobile, Low-Code, Analytics, Cloud, etc. enterprises have an opportunity to do the unthinkable.
There is a huge difference between Digitization and Digital Transformation. Digitization refers to merely bringing your business activities, process, systems, etc online, on the other hand Digital Business Transformation refers to fundamentally transforming your business operations using Digital Technologies.
For example, if you used paper-based forms in any of your business processes, Digitization would refer to converting paper forms into electronic format. While that would be a good start, but you are not leveraging the power of technology which is available to you.
Alternatively, transformation would mean thinking of innovative ways by which you could leverage technology to streamline the process completely. In this example, a good start would be to use mobile based capture which would enable document scanning, intelligent data capture at source and authentication using the phone camera, mobile forms and fingerprint scanner on your phone. Thus, there is no need for manual data entry, verification or processing of paper or electronic documents. Now that would be transformation in its truest sense.
What does a digital transformation framework look like?
What does a digital transformation framework look like?Although digital transformation will vary widely based on organizations' specific challenges and demands, there are a few constants and common themes among existing case studies and published frameworks that all business and technology leaders should consider as they embark on digital transformation.For instance, these digital transformation elements are often cited:-
3.Culture and leadership
5. Digital technology integration
The benefits of a digital transformation framework
All organisations exist as a finely tuned mix of separate functions, working together to deliver products and services to customers.
The right digital transformation framework will provide scaffolding to guide the organisation through this period of intense change. It will ensure that no areas of the business are misunderstood or left behind in the process.
It will provide a way to create tangible benchmarks, meaningful metrics and, clear indications of progress and, areas where more attention is required.