What is Digital Transformation?
Digital Transformation is the initiative to make a fundamental change in the business through digital capabilities.
It is a business initiative to automate business processes through the use of technology. For example, automate end to end business processes through enterprise software.
So, what is so special about it? Companies have been implementing software and technology for decades!
The critical point is the scale of change. Digital Transformation initiative fundamentally changes the business through its digital capabilities.
This fundamental shift is from the current business state to the new state. Due to the complexity, often, these initiatives are incremental. For example, for a 5-year Digital Transformation program, the business may move to 5 stages of digital maturity.
Summary – What is Digital Transformation?
These initiatives are meant to bring a fundamental change within the business. These changes profoundly improve the experience of the stakeholders (Customers, Suppliers, Employees). Automation improves efficiency and productivity. Data insights improve transparency, certainty, and planning. All in all, it is a continuous improvement loop that propels your business forward by exponentially adding value to your offerings.