Today’s realities make it difficult for businesses to stay on top of the latest trends. Modernity dictates that you must be faster, braver, and more inventive than your competitors to stay ahead of the curve. Businesses must embrace digital innovation as soon as possible and rush forward to full digitalization 😱 — this is what we get to hear in the media, from business experts and other sources. However, if we reflect on the actual meaning of the phrase “digital transformation” and what it leads to, we probably won’t find a plausible answer.
Of course, this doesn’t mean that businesses don’t know what digital transformation is all about. The popularity of this trend has been growing rapidly since 2009, according to Google Analytics. However, it is necessary to understand what not only positive consequences it leads to.
💡🧠 Digital Transformation is …
The first thing that comes to mind when we think of the term “digital” is something related to technology. Therefore, often, the “digital transformation” of organizations is seen as just the introduction of the latest “transforming technologies” into business processes. Or as a company’s attempt to implement digital innovation to change an outdated “manual operational processes” approach to a digital one. However, this is not quite the case.
The real understanding of how seriously digital transformation should be understood, accepted, and implemented into a company’s business processes can be expressed in the phrase of former Cisco CEO John Chambers, who said:
🗣️💬 “40% of the companies in this room will not be around in a meaningful way in 10 years including ourselves if we fail to execute or if we miss an opportunity in relation to transformation.”
So, the best way to define “digital transformation” is the process of companies adapting to the changes brought about by digital technologies. It includes not only the technology implementation but also changes in the business model, culture, and organizational structure of the company in general.
🗝️✨Key effects of a digital transformation process that business needs to consider
In most sources, you can find only positive aspects of using digital transformation tools for businesses. Among the most common benefits are:
- cost reduction 💸 by automating some of the company’s internal processes;
- improving customer service 👥 by providing more personalized and better service;
- increasing sales and profits 🤑 due to improved sales and marketing efficiency.
And that is certainly true. But we propose to consider this topic more comprehensively, to understand the digital transformation challenges that businesses will face. After all, it should be noted that no change, especially such global ones as the restructuring of processes that have been built for decades, is without a trace. So what are the key impacts during and after the implementation of digital transformation that need to be considered? 🤔
It is important to remember that technology is only a small part of digitalization. In addition to technical aspects, you should be ready for full business process optimization. Such as management, planning, market research, and networking are more important for a successful digital transformation.
Tracking changes in your business environment is the key to best understanding where and how to proceed in digital transformation to compete with the leaders of your business niche. Of course, you cannot fully follow the slightest changes in your business environment. For example, the way partners, suppliers, and customers think, what they expect to receive, and what goals they strive to achieve. But you can reach out to a digital strategist (for instance, Corpsoft.io 😉) who can help you quickly and effectively react to the world’s digital transformation trends.
After all, becoming a digital transformer is an ongoing process⏳. You should realize that its start and finish are barely visible, so it’s important to keep it evolving stably. And remember, the readiness of organizations for digital transformation is determined more by their maturity and needs. Only to a lesser extent by their readiness for change and strategies.
📚💡What does ‘ Digital Maturity’ mean for enterprise transformation?
Achieving digital maturity is the top priority of digital transformation for enterprise companies. The key to gaining it is to realize that it doesn’t happen automatically.
Like personal growth, digital maturity can be approached in many different ways. Just as some people may not find their dream career right away, organizations may take an unexpected route in supply chain digital transformation 🔗. However, this uncertainty can be seen as a lack of constraints, allowing the process to be viewed more widely by focusing on the main goal. For enterprises, the main indicator of digital maturity is the focus on eliminating unnecessary technologies and digitizing the internal weaknesses of the organization. This basically determines how much a company can consolidate itself in a competitive position.
Thus, maturity implies permanent adaptation, learning, and strategic decision-making to survive and even surpass competitors in an aggressive digital environment. For example, in 2017, nearly 70% of Global 2000 CEOs named digital maturity as the top priority of their corporate strategy. However, according to a McKinsey & Company survey conducted in 2023, already 80% of CEOs consider it a top priority 🎯🔝.
😎📈 Reasons for business to strive for digital maturity
Organizations that have initiated business process optimization recognize that positive trends have been seen in the following key points:
- 💪 making stronger progress in enabling real-time transactions and in increasing the operations KPIs in general;
- 👥 increasing the number of acquired customers;
- 💡 making the process of creating new sales channels smarter;
- 🤖 increasing the use of AI for repetitive tasks by workers;
- 😁 significant revenue and customer satisfaction growth;
- 📈 increasing product development both potency and possibilities.
Digital transformation is an important process transformation for companies that want to be competitive in today’s digital world. Companies that don’t want to realize that they should implement a digital workplace transformation risk falling behind their competitors and losing customers. Isn’t it time for digital maturation for its own sake?✨
Corpsoft.io has made digital transformation one of its priority areas 🎯🔝. Here we turn ideas into working and profitable web and mobile products. We help businesses streamline their processes and make the transformation process as smooth as possible. Find out our most comprehensive digital transformation case study here or learn more about other transformation examples here.
Get in touch with us to launch your discovery phase and reveal opportunities for your business.