Why Should I Care About Digital Transformation?
The world is changing at a rapid pace, and a business that doesn’t keep up with these changes will quickly fall behind. Today, organizations must be agile enough to react to new technologies, customer demands and competitors in order to survive. Digital transformation is the process by which companies transform themselves from operating in analog mode (i.e., working like an old-fashioned manufacturing facility) into a digital mode (i.e., using the latest technologies for better communication with customers).
Digital transformation is customer-centric change, not technology-driven change. But technology changes (i.e. Mobile, Social, Analytics) have created great opportunities for businesses to drive that customer-centric change across the entire enterprise and transform how they do business with their customers and internally to improve operational efficiency and employee satisfaction.
Digital transformation is not just about new technologies. It’s about creating a customer-centric culture that drives business success. It’s about putting your clients at the center of everything you do, from product development and innovation through to customer service and experience.
It’s also about turning customers into advocates for your product or service by ensuring they have a great experience with every touchpoint along their journey with you—from discovery through purchase, use and support. Digital transformation has fundamentally changed how companies compete in their markets today: by delivering superior experiences across all touchpoints (not just on mobile devices).
Digital technology has given rise to new ways of working that give people more freedom than ever before—and this makes them happier too! Employees are empowered by technology; they want autonomy over how they work and where they work from because they know it helps deliver better results faster than being tied down to an office desk 8 hours a day every day could ever achieve.
Digital transformation is not just about adopting a few new technologies, but rather using those technologies to fundamentally change how an organization interacts with its customers and partners, breaking down silos inside an organization to accelerate interdisciplinary work, and taking on new business models that will disrupt the status quo of doing business in your industry
Digital transformation is not just about adopting a few new technologies, but rather using those technologies to fundamentally change how an organization interacts with its customers and partners, breaking down silos inside an organization to accelerate interdisciplinary work, and taking on new business models that will disrupt the status quo of doing business in your industry. To get there, you’ll need to use your digital transformation efforts as a way to build both internal and external relationships.
It’s now or never… embrace digital transformation as a strategic imperative!
The world is changing at a rapid pace, and the rate at which change is accelerating continues to grow. If your organization isn’t ready for how this will impact your business, you could be left behind in what’s essentially an arms race. Digital transformation has become a strategic imperative.
As more companies become digital-first, those who haven’t adopted it as part of their DNA are no longer competitive. Digital transformation can help you stay relevant and competitive by creating new opportunities for growth while reducing risk through faster decision making, improved supply chain processes, increased operational efficiency and reduced costs
When you think of legacy processes, you might imagine something like a manual process that takes a lot of time and effort to complete. A good example would be submitting an expense report, which requires employees to fill out a form and then send it in via snail mail or fax.
Another example is when companies create processes based on what works today instead of optimizing them for the customer experience or employee experience. For example: if your company has been using paper invoices for years but now has an online payment portal, there’s a good chance that employees are continuing to use the old method because it’s more familiar than the new one (even though it could save everyone involved time).
Customer frustration is a problem, and it’s costing your business money. Customers are frustrated because they don’t get what they want, or they don’t know what they want. They may even be frustrated because the process of getting what they want is too long, which causes them to leave or cancel their order before it has been fulfilled.
The reason that this issue has become so widespread is that there are so many different ways for customers to interact with you as a business today—there are websites and apps on mobile devices, social media channels such as Facebook and Twitter (which also have their own native apps), chatbots like Messenger from Facebook messenger and Amazon Alexa; smart speakers like Google Home or Amazon Echo Dot; as well as traditional telephone conversations with agents over the phone itself.
Talent acquisition, retention & investment
Talent acquisition, retention and investment are three key components to digital transformation. Talent acquisition is one of the first steps to digital transformation. You can’t do a lot of things if you don’t have the right people.
Talent retention is also important because it will keep your current employees happy and motivated to do their best work when they know they have a long-term future with your organization.
Finally, talent investment is important because investing in your employees will make them feel valued and allow them time to grow as individuals while performing well at their jobs.
In the digital landscape, competition is fierce. At the same time that competition has increased, digital technology is changing rapidly and customer expectations are rising. Specifically, customers are more informed than ever before: they know what brands are doing—and not doing—to serve them well. They expect more from their brands than ever before. As a result of these forces and trends, incumbents find themselves facing strong competition from both new entrants and existing players within their industry who have become disrupters through innovation in digital technologies or service models.
Digital transformation is necessary to stay relevant and competitive
Digital transformation is a strategic imperative. It’s not just about technology. It’s not just about adopting a few new technologies or processes, but rather using these technologies to fundamentally change how an organization interacts with its customers and partners, breaking down silos inside of companies to accelerate interdisciplinary work.
Digital transformation is an ongoing journey of change, and it’s one that requires us to rethink our business processes, our organizational structure, and how we deliver value to customers.