Sneha Mishra, Quality Assurance Manager at InterActive Pro and Edology.com explains why digital transformation is the bridge to the future when it comes to how an organisation delivers value to its customers
Digital transformation is a foundational change in how an organisation delivers value to its customers. This involves the building of a digital ecosystem in which there are coherence and seamless integration between customers, partners, employees, suppliers and external entities, providing greater overall value to the whole. Fundamentally changing how an organisation operates, though, is a component of exponential digital transformation. This requires a fundamental shift in the thinking of the entire organisation and holistically embracing change using digital technology for all processes and interactions, both internally and externally.
It is rightly said that “strategy, not technology, drives digital transformation.”
The adoption of upgraded technology does not ensure digital success, as much as being digitally fluent doesn’t refer to being a master in technologies. It actually calls for the ability to articulate the value of digital technologies to the organisation’s future.
Digital transformation is about transforming how a company operates and engages with customers by leveraging technology and data. Companies today need to continuously find new sources for customer value. Earlier, the value proposition was defined by the company. Today, the value proposition is being defined by changing customer needs as the customer is now at the centre of all business decisions.
Need for a digital transformation framework
The objective of any business is to continuously improve its products and services to meet the changing needs of its customers. This requires businesses to rethink their work to constantly improve margins and decrease costs through a digital business transformation. The adoption of a digital framework not only equips an organisation to improve its operations but also accepts and executes innovative and disruptive strategies.
These strategies enable the company to compete in the rapidly changing market conditions that are highly influenced by changing customer expectations, technologies and new commercial models. The digital framework provides an appropriate strategy and roadmap that allows organisations of different sizes to grow and succeed rapidly in the changing market conditions.
Probably the greatest example of an existing organisation undertaking digital transformation can be found in the creation and evolution of platforms such as Netflix, going from DVD rentals to online subscription-based entertainment streaming, including original content creation. Digital transformation has become a corporate imperative.
Benefits and challenges of digital transformation
Digital transformation is dependent on managing the exponential growth, intrinsic value and movement of data. It requires incorporating and managing data in a complex, hybrid world where data resides in your data centre, in the cloud, at the edge, and through externally linked applications and platforms. The growth and manageability of that data need to be effectively governed to ensure data sovereignty, security and cost containment.
The future of digital transformation
Digital transformation has been on the agenda of organisations for years, and 2019-2020 is predicted to be a crucial time for leaders to plan for and implement it across industries.
Among senior executives, there’s widespread recognition that the role of digital technology is shifting, from driving marginal efficiency to be a catalyst of innovation and disruption. This means that in the coming years, a number of decisions must be made to avoid or risk falling prey to competitors and disruptors.
When it comes to a timeframe, 85% of key decision makers feel they have only two years to get to grips with digital transformation. So, while the past few years have seen some movement in digital transformation, there’s now a renewed urgency to get up to speed. Considering that 59% of business leaders worry that it’s already too late for them to adapt, time is of the essence.
About the author
Sneha Mishra is a Quality Assurance Manager at InterActive Pro and Edology.com. She has 12 years of experience in the IT, education and food industry, working on project deliveries across various domains including banking and finance, energy and telecom. She has participated and implemented high standard process-oriented quality structures across companies with a global footprint.
Sneha Mishra
Quality Assurance Manager
InterActive Pro
Edology.com
