Digital transformation is changing the world we are operating in. New technologies have led to the creation of new markets, which in turn have created new competitors and customers. These competitors and customers are together creating new expectations. To ace the digital world, businesses should not just offer superior experiences but deliver their promise in a nimble manner. The benefits of getting sound digital transformation consulting is immense. Especially for the one that understands the need for fast digital transformation with downtime.
Out of the fear of getting irrelevant, businesses have started leaning towards digital transformation solutions without completely understanding the depth of the concept. Here at Appinventiv, we help businesses understand that digital transformation is a lot more than simple technological adoption. We help them get a grasp of how their customers have evolved, the digital journey their competitors are on.
Here’s the in-depth guide that we pass towards our clients before we hand-hold them towards their digital business transformation.
What is Digital Transformation (DX)
The definition of digital transformation, as opposed to what is known as moving businesses to apps and websites, is different for every business and industry. In generic terms, we can define the concept as integration of digital technology in every business area that changes how businesses operate and deliver value to their customers.
When we look deeper inside, achievement of digital transformation goals can be seen as a cultural change that makes businesses get comfortable with failure or sometimes even let go of the business practices that they had been following traditionally, in order to welcome new-age practices.
Although the coronavirus driven fast tracked shift to digital is seen as the reason behind the growing focus on digital transformation trends, the causes started coming on the surface much before the pandemic.
What Causes Digital Disruption?
Technical innovations: A series of technologies with obvious transformation abilities like AI, IoT, and Blockchain are the first cause of digital transformation for businesses. It is not these technologies that drive transformation but how they are being adopted by government, businesses, and customers to offer newness.
Customer demands: Customers’ needs and demand are not wholly dependent on technical innovations. They can be driven by societal changes, new trends, changed way of interacting with a business, amongst a number of other driving factors.
The fact that customers are at the center of business efforts and value offerings, their changing needs also becomes a primal cause why businesses seek digital strategy consulting firms.
Ecosystem changes: Companies are a part of much broader ecosystems – business and social. Demand from stakeholders for adopting, collaborating with transformational businesses are some of the examples of business ecosystems. Regulatory changes, political changes, natural disasters, or pandemics are a part of social causes that can demand businesses to digitally transform.
The Key Elements of Digital Transformation
Customer experience
Digital transformation drives customer experience towards ultimate brand resonance. This is not a secret anymore. Businesses across sectors are using digital platforms for gaining insight into customers’ needs, using technologies to communicate directly with their customers, and inherently transforming the digital customer experience.
Here are some of the ground-level ways businesses are digitally transforming their customers:
Personalizing the customer journey
Seamless omni-channel presence
Embracing automation to keep customers updated.
**Operational Processes **
Digitalization of processes lowers the amount of resource and time needed for maintaining operations and innovating. Companies are enabling workers with digital tools and platforms for improving collaboration on the go, while using digitalization tools for streamlining their operations through data capture and analysis automation.
Business Model
Modification of business models also acts as a key element of digital transformation. While a number of traditional businesses are shifting to digital platforms to change their offerings, there are a number of other businesses which are simply adding new digital-centric models in their business offering.
Knowing the elements where digital transformation can be seen at its peak is not sufficient for businesses seeking practical ways to integrate disruption. If we had to put a number to it, 80% of our digital transformation clients come to us seeking a framework that they can apply in their business to make digital transformation a journey for their internal and external stakeholders. A successful implementation of the framework lies at the center of defining the benefits of digital transformation.
Learn more about digital transformation strategy here