The Area’s Of Digital Transformation
The Area’s Of Digital Transformation
Area’s Of Digitalization
The Area’s Of Digital Transformation in an integrated and connected way that it requires, can, among other things, touch upon:
- Business activities/functions:
Marketing, operations, human resources, administration, customer service, etc.
A set of activities, operations, and sets that are connected to achieving a business goal. In this context, business process management and optimization can be combined with business process automation and robotic process automation. Digital transformation strategies require business process optimization. In most industries, there is a mixture of internal and customer-facing goals.
How businesses function: From the go-to-market approach and value-proposition to the ways it seeks out to make money and transform its core company, tapping into new revenue streams and approaches.
Refer to the relationships of stakeholders and partners as well as the contextual factors that impact the business, such as economic or regulatory priorities and changes. New ecosystems are formed between companies of different backgrounds upon the web of digital transformation, data, and information. This is where data and actionable insight become innovation assets.
Business asset management
Where the emphasis is not on traditional assets but on more ‘tangible assets’ such as customers and information. This is because improving customer experience is a major goal of many “digital transformation” projects and information is the heartbeat of all technological advances and any human relationship. In all aspects, customers and information should be treated equally.
There must be a clear customer-centric, agile, and hyper-aware goal. This is achieved by acquiring core competencies across a range of areas like digital maturity, leadership, and knowledge worker silos. It makes it easier to be future-proof. Culture is also interrelated with business activities, collaboration, IT-side, and processes. It is necessary to get applications to market quicker. DevOps is all about operations and development. In order to make IT and OT work together in businesses/processes/activities, change is required too (it’s not just the information and operational technologies, it’s the processes, culture, collaboration). Etc.
Ecosystems and partnership models
It includes, among others, a rise and co-operative collaboration, co-creating, and, last, but not least, entirely new business eco-system approaches. This will lead to new revenue sources and new business models. As-a-service-economy will be based on ecosystems.
Partnership, worker, customer, and partner approach.
Technology transformation puts strategy and people first. Changes in behavior, expectations, and needs are critical for any stakeholder. This can be seen in many change subprojects, which include customer-centricity user experience, and worker empowerment. It is possible for all of them to be part of the picture. It is important to remember that digital technologies will not solve all human problems, including customer experience improvement and worker satisfaction. People are able to involve, respect, and empower others in the first place. Technology is an enabler, but it’s only a part of the equation and basic needs.
While this list is not exhaustive, it does show that the various aspects of digital transformation are closely connected.
Digital transformation is not about technology disruption. It is not only about creating a digital age. Even if it were, it would be difficult to see that the digital age is not new. It has been around for a while and is very vague.
What are the 3 approaches to digital transformation
1. You can wait for digital proof to prove your success
This is the first approach that will allow organizations to focus on empirical results. This first approach comes with the risk of being inactive while your digital transformation is underway. This gives your competition an edge if they are able to achieve digital success faster than you. The majority of companies use a combination of digital and other solutions.
2. A comprehensive digital strategy should be developed
This approach is focused on making the strategy as complete and comprehensive as possible right from the beginning. It is important to have a solid long-term plan. A comprehensive digital transformation strategy is one that includes a plan for changing culture and implementing rapid innovation. It can be costly and comes with many potential dangers. Only those with great patience, and a willingness for risk, should apply.
3. Delivering digital skills incrementally
After setting a goal and following a route, this approach is focused on delivering the benefits. However, as an organization grows, new insights and lessons are learned. This changes the digital goal, and sometimes the way to get there. This strategy focuses on providing a solid but flexible strategy that can change with industry changes.
Why is digital transformation necessary for a company?
There are many reasons why a company might choose to go digital. But the most important reason for digital transformation is economic survival. COVID-19 highlighted the importance to quickly adapt to rapid changes such as disruptions to supply chains and time-to-market pressures. The digital transformation of business practices and products is crucial for the survival of any organization.
Which digital transformation type would be best for you?
Finding the Area’s Of Digital Transformation is a complex process that depends on the industry and particular challenges faced by each company. However, one constant is that as technology advances, more companies will need adapt.
We help our clients realize the digital transformation they seek with our extensive industrial reach. We have over a decade worth of research data and expertise to show what works and what doesn’t in each industry. Digital transformation can bring great benefits to businesses and help them achieve greater success than those who do not. Contact us today to get started with your digital transformation. Together we can determine which approach is best for you.