Technology is the heart of every business. And as this technology continues to progress, it becomes important to keep pace with the ever-present change. This is the era of digital transformation where search for improvement is constant with every innovation.
The true essence of a digital enterprise
Does that call for understanding and mastering technological advances? Well, it is that and even more. Digital transformation is a step beyond technology. Many companies tend to invest in digital initiatives without understanding the true essence of DX (Digital transformation). It is about leadership capabilities and making the right investments in the right technology. In addition, the management styles must co-exist. A true digital enterprise must move beyond ‘people-process-technology’ framework and adopt strategic models in sync with the digital behavior. Eventually the focus is on the end user.
What drives the digital wave?
Business operations get maximum value from social media, cloud computing and big data. A digital enterprise is not complete unless they adopt big data. This allows companies to minimize costs and maximize results. Incorporating big data technologies into business strategies is said to revolutionize business in the same way that the internet did. According to a study by Accenture, approximately two-thirds of companies worldwide have completed big data implementation so far. The company also foresees digital transformation as a $ 100 trillion opportunity for industry and society by 2025.
The force is strong in the digital space
Digital enterprise is the buzz phrase today. Research reports indicate that the trend will go mainstream While Gartner emphasizes the rise of the algorithmic business and the programmable economy, Forrester charts a roadmap for companies that respond to digitally savvy customers and consumers.
Digital transformation is on the radar of many organizations especially in the sales and communications arena. In order to succeed, it is important to focus on harnessing the strengths and mitigating challenges. Old business models have paved way for radical new beginnings. Gone are the days of siloed teams in organizations. The emergence of all the new technologies ensures better communication and collaboration where all stakeholders are involved in the digital transformation process.
Embracing digital transformation in an enterprise has key benefits such as cost effectiveness, improvement in productivity and the most vital of all, improving customer engagement.