Digital Transformation

           

Definition :

Digital transformation entails using technologies to reshape a process and to become more capable and valuable. The idea is to use technology not to imitate an existing service in a digital form, but to use technology to transform that service into something significantly better.

Digital transformation can include many different technologies, but the booming concepts right now are cloud computing, the IOT, big data, Digital Marketing,  and AI.

But it's not just about the technology changing business process , corporate culture are just as vital to the success of these initiatives. Digital transformation projects are often a way for large and established organizations to compete faster.

Evolution:

Digital transformation is an actively discussed topic these days, but this was also true in the late 1990s and again in the mid-2000s. It started to computerize processes almost 30 years ago, and it is already implemented digital activities many organizations.

First, digital channels, or websites, connected companies and their customers. After that, digital processes emerged to support customer interactions. As companies’ digital ambitions quickly grew, they soon needed dedicated digital teams to manage new social and mobile channels. This enabled organizations to leverage digital data on their own activities and interactions. Connected to customers, suppliers, and other stakeholders, companies realized that they operated in digital networks.

To make better use of the vast amounts of information, companies started to connect all processes and devices into networks. Seeing potential in connectivity, organizations focused on digital platforms connecting all system players rather than the traditional method of doing business through intermediaries. Companies began to experiment with new digital ways of doing business, trying to leverage data more effectively, create greater agility, and retain talent.

[Source: www.auriga.com ]

Impact To Business:

Digital transformation is a Known notion now. The growing connectivity of people, machines and even businesses has changed the demands of the markets. In order to keep up and stay competitive, business must adjust to these demands by digitizing their processes and business models. But the digital transformation also holds a lot of new opportunities to grow or even establish new branches of business. So, companies should accept innovation, ensure effective customer engagement, bring in new ways of thinking, and empower a company to make apprised decisions. In other words, it refers to the adoption of digital processes and tools to achieve strategic business goals. It's a dense, intricate process that represents a substantial change in the workplace and changes that affect every part of an organization.