Updated: Dec 9, 2019
Digital transformation is not just another fad or buzzword. In an increasingly digital world, it will be a crucial process for any business looking to stay competitive in the coming years.
Done well, digital transformation drives efficiency and improves productivity, saving a business both time and money.
Interestingly however, many are still resisting, with research showing just 5% of large enterprises have the infrastructure to be classed as a digital business.
Of those businesses that have attempted digital transformation, some are discovering that success is not as straightforward as it seems.
This is perhaps because although business leaders understand why they need to change, they don’t know what needs to change or how to change it.
What is digital transformation?
Broadly, digital transformation is the use of digital technologies to solve traditional problems.
It involves incorporating technologies such as cloud computing, big data, and artificial intelligence into all areas of a business. This results in fundamental changes to how it operates and delivers value to customers.
Crucially, it requires developing a culture in which all staff are continually looking to challenge the status quo. Everyone must be prepared to walk away from long-standing processes in favor of relatively new or experimental alternatives.
What are the potential benefits?