Digital Transformation – What does it mean?
You have probably seen or heard the term Digital Transformation with increasing regularity over the past number of years to the point, that now, daily and weekly business publications carry articles and advice on how to achieve the digital nirvana that it alludes to.
So, what is Digital Transformation exactly and how will it impact your business?
In simple but one dimensional terms, it’s introducing the notion of paperless business.
It is, however, more than that. It is the changes that arise from transforming all aspects of your business with the application of digital technology. Globally, business has embraced this concept and there are examples all around us in our daily lives such as banking, insurance and healthcare.
Successful digital transformation of your business increases competitive advantage.
It is not solely the domain of large enterprise that have resources to allocate to these projects. The concepts and roads to digital transformation are numerous and can be adopted by small business equally as well as multinationals.
Your business has, no doubt, invested significantly in technology projects such as Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Human Resources (HR) and other line of business applications. How do you leverage these previous investments? Digital transformation is not all about the cloud nor is it all about social media. It’s about all your processes, your technologies and most importantly your people, both employees and customers alike.
Digital transformation is not to be feared but embraced.
We will, in our following articles, dive further into digital transformation. We will look at how to embark on digital transformation, the advantages and potential pitfalls of the projects, the processes and business functions that will benefit and how to derive the most value.