Having adopted digital technology and gained sufficient competency for improving efficiency and supporting traditional way of doing business, enterprises today are on the threshold of taking the next step in the journey i.e. digital transformation, in this stage enterprises go beyond mere usage of digital technology and attempt to innovate and create something new in a particular sphere of activity.
Obviously digital transformation is a gradual process and requires a fertile combination of good leadership with vision and technology, a combination which produces high digital adoption, and it is typical to see enterprises with this combination leaving behind others when it comes to digital transformation initiatives.
Digital transformation is a composite process which escapes simple definition but lends itself to clear patterns discernible to astute observers. With the study of few examples it may be said that digital transformation affects all facets of business, namely the customer, business processes and business model. And by making the customer or the consumer the center of the business, and then setting out to enrich his experience of the business by changing the ways and means business interacts and engages with him, digital transformation enhances customer experience. Additionally this experience is enhanced by improving both internal and external process, and finally a new business model is designed dictated by customer’s convenience.
Enterprises usually embark upon digital transformation by transforming parts of the business instead of a complete overhaul of the business. Enterprises with the help of recent advances in BI and data analysis of both structured and unstructured data will try and understand the needs and pains of customers in great detail and design his experience of the company’s offering accordingly. These results in innovative customer outreach activities, numerous new products and services offering, and inventive customer care approaches.
Enterprises in the course of digital transformation looks at business processes holistically and tries to automate routine processes leaving people to manage strategic tasks thereby making room for more innovation and improvement . This also provides space to bring worker friendly initiatives with introduction of collaboration and networking tools increasing both productivity and efficiency. With process automation and streamlining of strategic tasks enterprises today generate lot of processes data which help in performance analysis and contribute to better performance management.
Coming to the third facet of business digital transformation, it enables enterprises to revamp their business models by making boundaries irrelevant, combining activities, adding service offering where none existed before. Sometimes digital transformation lends a new lease of digital life for traditional businesses which are stagnating. And these digitized business models are more suited to scale globally than the traditional models, which were restrained by boundaries.
Digital transformation by its customer centric approach increases the prospects of the business to succeed since considerable emphasis is laid on understanding the customer and serving to his utmost satisfaction leveraging the latest technology, methodology , processes …etc.