Digital transformation is the process of using digital technologies to create new — or modify existing — business processes, cultural practices, and customer experiences to deliver more value. In a business context, it’s often thought of as the integration of digital technology into all areas of a company, resulting in fundamental changes to how businesses operate and how they deliver value to customers. Digital transformation is also a cultural change that requires organizations to challenge the status quo, experiment, and get comfortable with failure. Ultimately, digital transformation is about using technology to drive new growth and higher levels of performance.
There are multiple drivers of digital transformation, but three goals are common across all companies:
Improved Customer Experience
Greater Operational Efficiency
New Revenue Streams
Digital Transformation:
Challenges and Benefits
Challenges
Digital transformation initiatives can be challenging to implement due to the need to align organizational culture, structure, and processes with new technology platforms. However, when successful, digital transformation can help organizations drive significant levels of growth and competitiveness.
Benefits
Digital transformation is the process of using digital technologies to create new or improved business processes, customer experiences, or operating models. It involves combining different digital assets and capabilities to create new value for the organization. Digital transformation can be used to improve customer experience, by creating new ways to interact with customers or providing them with more personalized service. It can also be used to improve operational efficiency, by automating manual processes or creating new data-driven decision-making models. Ultimately, digital transformation can help organizations to be more agile, innovative, and competitive in the market.
