Digital Transformation

Understanding Digital Transformation

Speaking about digital transformation refers to the cultural, organizational, and operational change of an organization, industry, or sector. In search of creating systems for the intelligent integration of technologies, processes, and digital skills at all levels and functions.

Digital Transformation

This integration must be done strategically and in stages. Transcending traditional sales, marketing, and customer service roles. It starts with an empathic mindset to connect with stakeholders. It is the opening to a reinvention of how to do business, with the help of technology as a facilitator to achieve it.Digital transformation is not only based on disruptive technology and applications. It focuses on value, people, optimization, and the ability to adapt quickly with the ideal tools to make it easy.

Growth of Digital Transformation

  • 70% of companies either have a digital transformation strategy in place or are working on one.
  • 21% of companies think they’ve already completed digital transformation.
  • Most digital transformations are driven by growth opportunities, followed by increased competitive pressure and new regulatory standards.
  • Executives say the top benefits of digital transformation are improved operational efficiency (40%), faster time to market (36%) and the ability to meet customer expectations (35%).
  • 60% of companies that have undergone a digital transformation have created new business models.
  • 55% of startups have adopted a digital business strategy, compared to 38% of traditional companies.
  • 89% of all companies have already adopted a digital-first business strategy or plan to do so.
  • The top industries for digital-first business strategies are services (95%), financial services (93%) and healthcare (92%).

Benefits of Digital Transformation

  • Enhanced data collection
  • Greater resource management
  • Data-driven customer insights
  • An overall better customer experience
  • Encourages digital culture (with improved collaboration)
  • Increased profits
  • Increased agility
  • Improved productivity