What Exactly is Digital Transformation
By Syed Aijaz VP, Strategic Solutions
The process of using digital technologies to change or create new business processes and customer experiences is known as digital transformation. Among digital modernization, digital transformation is critical if a business wants to succeed and gain an advantage over its competition. The problem is that more than half of business decision-makers are failing to make the correct investments for their businesses, which is going to lead to them suffering for their lack of action.
There is a lot of change ahead when it comes to Digital Transformation for businesses, and without being open to the changes occurring, a business is going to struggle to keep up.
Through Digital Transformation for businesses, organizations are going to be able to step forward and invest in better artificial intelligence and business practices that make more sense. They simply cannot rest and sit back and watch others make those transformations, not when business priorities are changing so quickly.
Digital Transformation For Business Success
A business has the chance to build to amazing success, and things are changing in the business landscape – enough that Digital Transformation for businesses should be the priority. There have been plenty of surveys that have shown that digital transformation is vital for a business to modernize and innovate properly.
Researchers have looked at the role that IT leaders and experts take in driving change properly, and they have looked at the key factors and trends that are unique to businesses. Globally, businesses are taking the slow road and they’re paying the price for it. From machine learning and artificial intelligence to challenges facing organizations and their future, it’s all contributing to businesses taking their time with modernizing.
The surveys that have been taken to talk more about how digital transformation is critical for business success has at least three important factors for an organization to successfully transform their business, and these include the following things:
Modernization
The first thing that has to be discussed is modernization. Reports have shown that this is the process of replacing technologies with new systems and services. This replacement will enable a business to better streamline processes and be more efficient in their service offerings.
The good news is that almost all respondents to surveys discussing modernization are actively modernizing their businesses, and this is a big deal! The industry results have said that 32% of the businesses in the middle of modernizing have finished, with 28% almost finished. 35% of businesses are in the early stages of modernization for their businesses and 5% of businesses are not actively making moves to modernize.
These are the businesses that will be less successful. The areas that showed a top priority for modernization included the IT enterprise architecture, cloud adoption, business processes and applications and data centre consolidation. The area that showed significant importance was improved customer experience as the top benefit of modernizing in business.
Transformation
You want your business to be transformative, and this is the process of evolving and updating the way in which your business interacts with partners, employees and customers, too. Most businesses are currently in the process of transforming, and finance and life sciences lead in those transformation numbers. 7% of businesses are actively not transforming right now, but 28% have completed their transformation, 29% are almost there and 35% are in those early rollout stages. There are certain areas for transformation that are most important, and those are in customer experience and employee productivity. Business process automation and delivery of new services are up there, too, as is the introduction of new products and software delivery. The most recognized benefit to transformation is improved customer satisfaction, and the biggest barrier has been in-house skills.
Innovation
Lastly, we have innovation. This is the process of a business becoming more agile and data-driven and more flexible in what they have to offer. For most businesses, it’s done by figuring out how to harness data and evolving customer expectations by using emerging technologies. Those big innovations are in technology investments, led by big data analytic and artificial intelligence. You also have the internet of things and integration PaaS in there, too. Most of the organizations out there talk about the challenges in innovation and see that if they do not innovate they risk being competitive in their market.
Digital transformation is so important for business development. Without it, there is stagnation and a lack of any of the best pieces of transformation. If you need assistance with your digital transformation, talk to the experts at ExterNetworks Services.
