Digital transformation is a necessary disruption; no doubt about that. It entails a fundamental change in the way an organization delivers value to its customers. The raging pandemic led to an increase in the debate around digital transformation. This transformation is a global phenomenon and can’t be restricted to operations alone. It involves internal and external operations, including sales and marketing, and other efforts. To adapt to the changes brought in, companies must rethink their strategies.
The heightened importance of digital transformation is evident from a survey conducted by McKinsey. A large proportion of 64% of the business executives surveyed opined that companies must build new digital businesses. This invariably points to the current scenario where businesses have progressed miles ahead in a matter of months. By adopting digital technologies, companies have sped up their advancement by years. Businesses in the field of IT and Digital Transformation Consulting Services have realized the immense possibilities of technology and are tapping into its potential.
The new environment that digital transformation has unraveled, prescribes one to stop looking at employees, infrastructure, and applications as separate entities. They should be viewed holistically, as inter-dependent elements. The customer is at the center of the system, with the other components branching out from the center. A Harvard Business Review survey suggests that 72% of respondents believed that digital transformation creates opportunities to create better relationships with customers. As the adage goes, ‘Customer is the King’. It is the tools evolved through the digital transformation that has helped satisfy the customer needs and requirements. With the advent of modern technologies like Artificial Intelligence, businesses can automate product customization and even run tasks remotely, as we have seen during the pandemic.
The post-pandemic world is sure to filter out the smart companies from the rest. To stay relevant, companies have to formulate smart strategies to bring customer satisfaction. Businesses that don’t leverage the latest in IT Consulting Services and Digital Transformation Consulting Services would be lagging.
Let’s understand the impact of digital transformation on the industry at large.
Digital transformation in the industry enables businesses to make optimal use of technology to simplify their daily routine. It offers the opportunity to combine new skills, technologies to maximize profit and customer satisfaction. By encouraging innovation, digital transformation opens up new avenues of research and development. Cutting-edge technologies give competitive advantages to businesses, which help them create better products for the customers. Above all, better collaboration, decision making, and mobility can be achieved by businesses by climbing into the train of digital transformation.
In short, it can be rightly said that Digital Transformation is a window to the future.
Businesses are reinventing and empowering themselves with the help of digital transformation. Swedish furniture company IKEA has a success story in this regard. Recognizing the wind of change, IKEA embraced digital transformation. It entered the smart home sector by developing its products. benefits of digital transformation are not only helping businesses design advanced products, services, and solutions but novel revenue streams as well. Despite this, some organizations remain hesitant, unsure of what the future of digital transformation holds. They are afraid that disrupting their current business models will throw the system into disarray.
A business that has been leading the way in digital transformation is Skillmine Technology Consulting. The range of Digital Transformation Consulting Services has helped Skillmine place itself as a leader in IT and Tech.
Everything said, digital transformation poses a few challenges, that are not always about the availability of technology. According to a PwC survey, 45% of executives don’t think their company has the right technology to implement a digital transformation. Internal factors like resistance from the employees, lack of digital expertise, the structure of the organization, budget limitations, and poor digitization strategies are a few reasons that can stall your business’ digital transformation journey.
Being a part of the globalized world that sees new players emerging every fraction of the second, it is necessary to stay connected like never before. Businesses are in neck-deep competition. And to survive and thrive in such a highly competitive environment, it would be an understatement to say that keeping up with the latest in technology is a requirement. Today, digital transformation is not a choice. Come out of your cocoon, reinvent yourself to explore the world of possibilities that digital transformation puts forward.
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