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DIGITAL TRANSFORMATION- STRATEGY FOR DIGITIZING A BUSINESS

What good is digital transformation without the proper technology to truly implement it? This may cost an organization up front for the short-term, but keeping up with technological trends and incorporating that technology to meet customers demands could pay off in the long-run. Organisations need to evolve to address the changing business landscapes. Ideally, IT spending is driven by the need to meet business requirements. In all organizations, business leaders want IT to be focused on business results, innovation, and continuous improvement.

What Is Digital Transformation? Digital transformation simply put is the process of using technology to radically change a business. It also means the acceleration of business activities and models to fully leverage the changes and opportunities of digital technologies and their impact.

Businesses are realizing the significance of how new digital technologies can transform their existing legacy businesses, driving business growth to truly innovate for customers and keeping ahead of the competition. Transforming business models from their legacy core business to more of a digital business is what is known as digital transformation.

In fact, digital transformation is business transformation. Some prefer to use the term digital business transformation, which is more in line with the business aspect of the transformation. These digital business transformations are influenced/driven by the following factors: Technology innovation, customer behavior and demand, and external environmental factors.

Once a company understands the software it has and how it’s used, they will be able to identify what additional solutions they need to support and effectively leverage the use of this technology. It’s important to acknowledge that it’s very rare that adopting and implementing new digital technologies doesn’t cause disruption, so these risks need to be weighed against the expected benefits and shared with employees.

Technological innovations may lead to technology disruptions. But the transformation is not just about technology innovations and their disruption on the business. It is also about how these technological innovations are adopted and used. The imperative for digital transformation is obvious. But for companies not starting from scratch as a startup, digital transformation not only means successfully selecting and implementing flexible and scalable technologies but also changing the culture and expectations for employees and leadership to enable a truly digital operating model.

Do these innovations bring value to the organization? Are they easily adopted or is the organization experiencing difficulties integrating this new technology? This brings us to the next factor: customer behavior. What are the customer demands and expectations of the business (and the demands on technology to meet business needs)? Customers demand increased technological capabilities combined with the desire for ease of use.

To help companies get over the hurdle and succeed in digital transformation, they need to work toward cultural alignment, employee empowerment, and customer delight. And finally, organizations have a deal with external influences such as regulatory laws, changing the economy, market competition, and business partner demands.

 

Article by: Busayo Tomoh

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