What Is Digital Transformation In Business And Why It’s Inevitable
Did you know that you could improve your operational efficiency or new product quality with one simple trick?
How?
For those of you who are new to this, we understand that it could be a little complex. If you were running an offline venture, implementing obsolete operational practices or were generating revenues through age-old business models, this write up is for you.
We’re sure that by the end of the post, you’ll have a better understanding of what the concept is and how you could make the best use of it for your transformation of business.
So, let’s get started.
What Is Digital Transformation?
Digital transformation is both generic and a specific concept at the same time. It’s a broad term that describes the incorporation of technology into your business operations to enhance and optimize several aspects of it.
According to Gartner, digital business transformation is anything related to technology such as IT modernization like artificial intelligence development or cloud computing to even the invention of new-age business models.
If we were to explain enterprise digital transformation through pop culture references, imagine the quote from Fight Club, “What improves your quality of business through technology only makes you stronger.”
“ What improves your quality of business through technology only makes you stronger. ”
Technology transformation could be as complex as bringing in automation to complete your web and mobile app development process or as simple as switching to a CMS or a CRM to fill out and send your invoices. If we are talking digital transformation in manufacturing, you are eliminating the need for manpower, reducing the time taken to execute a task through a portal or a system, and restricting the creeping in of errors, you are implementing business transformation techniques.
Why Is It Inevitable In Today’s Business?
Digital transformation is inevitable in today’s scenario for just one primary purpose – for business sustenance. If the companies out there today need to stay afloat, grow, make profits, have the best minds in the industry and do more, they need digitalization strategies and practices in place.
This is also fueled by the evolution of technology in other aspects and walks of life. Consumers out there are experiencing the best of technologies and gadgets and in turn are expecting more out of brands and businesses. This is creating a rift in consumer behavior that is only changing dynamically.
As this gap continues to expand, what can only bridge it is digital transformation. Like the statistics we mentioned at the start of the write up, digital transformation contributes to a lot of good things. Let’s see the benefits of digital transformation.
According to Finance Online, digital transformation can help your business
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Meet changing consumer expectations
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Decrease development expenses
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Make way for newer revenue streams
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Increase design reuse and more
70% of the organizations in the market already have one digital transformation strategy or are working on implementing one. This means they already have a way forward in the market.
