Digital transformation is everywhere at the moment. It can be found in companies, governments, and at countless conferences. As the hype around digital transformation continues to persist, the confusion also increases.

The concept behind digital transformation is how to use technology to remake a process so that it becomes more efficient and effective. It’s not just about changing an existing service into a digital version but improving it. It refers to an overall transformation of organizational activities aimed at leveraging opportunities created by digital technologies, data, and service management. This requires companies to profoundly transform their business models.

Some of the technologies used in digital transformation projects are IoT, blockchain, big data, cloud computing, AI, and machine learning. Digital transformation is more than just adding technology— part of the transformation includes changing how employees think. If the corporate culture doesn’t support change, then it will be difficult for a company to instill new business processes and reach digital maturity. 

The shift to a digitally transformed business often means breaking down silos and relating differently to customers. Becoming a digital enterprise requires far more profound changes than merely investing in the latest technologies. It calls for change in:

Digital Business Models: Companies need to fundamentally change the way they identify, develop, and launch a new business.

Digital Operating Models: Companies need to follow a lean approach to both core and support functions.

Digital Talent and Skills: Companies need to attract, retain, and develop the right talent Digital Traction.

Metrics: Companies need to adopt newer digital traction metrics as traditional KPIs may no longer effective in a digital business.

Digital transformation calls for reexamining the entire way of doing business and exploring new frontiers of value. The transformation through the adoption of digital technology has changed the entire landscape of client engagement, commerce, marketing, and more across industries.