DIGITAL TRANSFORMATION IGNITION!
By Zara Zamani, Head of Disruptive Technologies
Digital transformation? To begin with, it is important to understand what transformation means. “Transformation” does not mean a slight change in business processes, adopting a new system, adopting a new marketing or sales method or applying a new business model. Transformation is way more fundamental than is generally assumed. Transformation refers to very fundamental changes in the basis of business - from its foundational elements all to way to its business and marketing models, operational processes, sales and customers - and it involves the whole infrastructure of the business.
Here is when the digital element is injected. Digital transformation is the integration of digital technology into all aspects and operations of an organization, leading to infrastructural changes in how the business is operated and also how the organization delivers value to its customers. But, does digital transformation end here? Or is it more?
Digital transformation expands beyond this. It is also about a cultural change. Organizations need to prepare for the consistent challenges of exchanging the current business processes which they were built upon with new practices which they might not necessarily be comfortable with.
Therefore, digital transformation involves a change in leadership, thinking models, acceptance of new technologies and innovation as well as changes in business models. This is all to be able to create better experiences for organization’s employees, customers and business partners and acts as the connecting bridge between the digital customers’ expectations of today and delivery of analog businesses.
As societies face the rise in population of e-citizens these days - citizens who utilize information technology in order to engage with society and industry - the nature of services from service providers to their customers is in need of fundamental changes. These customers now need to access various services at anytime from anywhere and easy access is a demand. They also demand efficient and effective services of high quality. They should also be able to trust and engage with service providers. Therefore, as customers grow to more digital customers in their everyday lives, service providers are in need of a reshape by digital transformation in order to be able to meet their customers’ needs and demands.
On the other hand, digital transformation is not all about customers. A more effective and efficient performance of business, data driven decision making, well integrated business units, smooth business operation and a healthy work environment are just a few examples among the gifts digital transformation has for businesses themselves.
Even though digital transformation is probably not a very new topic of discussion, a crisis like COVID-19 has clearly showed that most companies are not yet ready for this digital era. The question that arises is: when is the right time to transform digitally?