Digital Transformation is the basic concept of how businesses use technology, people, and process to essentially change business performance. To have the best digital transformation, there must be a collaboration between business-focused philosophies and rapid application development models. This process essentially means rethinking how a business uses technology, ideas, and techniques, to fundamentally change their performance.
Why the change?
These changes are primarily changed due to discovering new approaches, to more productive business models, new revenue streams, and changes caused by customers’ expectations around products and services. What a business does with technology, truly reflects on themselves, and how customers and potential clients see them. When an outsider, or non-client views how a particular business is continuing to keep up with the modern standards of technology, it proves to the non-client that business has what it takes to keep moving forward.
But it’s not always a positive reason as to why a business would want to make the digital transformation change. Every day, our society has witnessed how new startups like Uber and Amazon, have slowly taken over the market. Since these two companies have boomed instantly, this has led to either many automotive services to incorporate similar ride-share ideas, and adding electrical bikes and scooters or, grocery stores and small shops creating delivery services or adding additional products to their stores. Reinventing themselves to compete or keep up with others, is the only way to stay ahead of the game.
Leading the digital transformational age
“Never stop improving”, is the main idea of many businesses. This can be from retraining to reskilling employees, to making major organizational changes, creating innovation labs, to experimenting with new technologies. When focusing on a digital transformational, businesses should ask themselves, “What outcomes would I like to achieve for my customers?” You have to think about the business models you already have and compare it to the business model you desire or are inspired by.
• Setting a clear objective – Regardless if it’s starting from a pre-existing model, or starting from scratch, every business needs a well-thought-out plan.
• Embrace adaptive design – The days of upfront investment requirements and rigid KPIs are over. Now, adaptive designs are all the rage, making monthly or weekly tweaks easier than ever.
• Adopt agile execution – Encourage everyone to take risks, and all levels of employees to make decisions. Remember to fail fast, and learn.
• Don’t be afraid of disruptions- To be successful, one must come across unaccounted for changes.