The origins of digital transformation don’t always start with a desire to upgrade business technology. In fact, the most successful digital transformation efforts typically start as an idea about fundamentally changing business practices to better serve the customer and the organization. In a technologically-oriented society, the basis of that change will be technology, but technology itself is not the only driving factor behind digital transformation.
What is Digital Transformation?
Digital Transformation is the process of incorporating new and emerging technology into existing business practices and goals. While digital transformation should not change the business’s overall values (unless that is something the business strives to do), it might require a shift in certain business practices, customer service practices, and more. As is true of many transformations, digital transformation doesn’t happen overnight. Due to the fluid nature of digital transformation, a successful digital transformation campaign won’t happen in years or months. It will take a commitment to change to carry out digital transformation steps. Digital transformation is, in essence, a pledge to continue adapting the best technologies to improve business consistently. To accomplish this, digital transformation should always: Focus on customer service improvements over sweeping tech replacement. Integrate new technology into current business procedures rather than the other way around. Work on adapting company culture to reflect modern values, especially shifting consumer needs. Enact changes based on the core needs of a business, such as better customer service. Continue to implement changes, even after major tech integration.
Is Digital Transformation Important For Business?
The complex, multifaceted nature of digital transformation should not deter companies from investing in transformation. Recent statistics have shown that nearly 85% of corporate leaders surveyed in an International Data Corporation survey need to change their digital processes significantly to thrive in their industry. If the past year has shown businesses anything, it’s that adaptation is integral to business survival. Today, an adaptation that best fits customer expectation is impossible without significant technological advancement for most enterprises. Even over the past year (2020-2021), most shoppers’ behavior has been radically altered in a way that focuses on digital processes. Not only that but the need for digital transformation impacts all industries -- from the pharmaceutical industry to the logistics industry. Americans are now buying more from home due to convenience, safety, and time constraints. This has meant enterprises must change the way they do business and reconsider how their business processes can be of the highest value to consumers. Consumer trends are making digital transformation inevitable. Today, consumers start their shopping experience online, regardless of whether they ever complete online checkout. At the base level, consumers use an online presence to make price comparisons between one business and another. Although the consumer might turn to one product over another because of price, instant purchase gratification is another consideration. Consumers are more likely to purchase based on how soon they can receive a product -- in other words, if your product is cheaper than a competitor’s, but they won’t receive your product quickly, they might still go with your competitor’s product. An online presence is now not just a step-above your competition -- it’s necessary for survival. And it is apparent that digital transformation isn’t about making a single technological transformation -- It’s about commitment to growing your company and customer satisfaction practices.