By Joy Atuzie . 1 Nov 2022 , In Business transformation

Digital transformation is everywhere. It is in the news, on your social media, and even has its hashtag #d2. But what exactly is digital transformation? Why should you care? Digital transformation is a necessity, a need that every business must meet to move forward and align with new trends as technology takes over.

As long as your business is about making a profit and interacting with customers, it would be best if you implemented digital transformation in every business area. Digital transformation is a process of changing the way you do business. It is not just about technology, marketing or customer experience; it’s also about data and analytics.

You might have heard digital transformation described as “the next wave” in business or even “the fifth wave” of innovation, but what does that mean exactly? Digital Transformation is an ongoing journey where organisations must continually reimagine themselves to meet customer needs and stay competitive in an ever-changing marketplace.

So this article will look at how digital transformation is necessary and not just a buzzword.

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Is Digital Transformation Necessary, Or Is It Just A Buzzword?

Digital transformation is not a new concept. It has been around for more than two decades now. It was first used in 2005 by Egon Zehnder when they published their manifesto on digital transformation.

John Boylan and James Gosling coined the term digital transformation, both members of Google’s management team and founders of Palo Alto-based startup Juhuasuan Inc., which focuses on helping companies improve collaboration across teams through its software platform.

Digital Transformation is changing business models in response to technological changes. Every word that defines this phrase goes deeper than the surface. Digital transformation is not just a buzzword; it is not hyped for fashion or used because they sound good together.

Companies and businesses implementing digital transformation and reaping the fruit today agree that it goes deeper than the surface. It can not overemphasize the fact that the world is evolving, and the presence and growth of technology make it all faster and more visible.

At this point, it is glaring that digital transformation is necessary, it is imperative, and it is a need that has to be met and not a buzzword.

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How Important is Digital Transformation to Business Growth

To get more understanding of how important it is to business growth and the world of customer relations, here are some reasons;

1. Supported By A Sophisticated Ecosystem

The digital transformation ecosystem is supported by a sophisticated ecosystem, which includes cloud, big data, artificial intelligence (AI), mobile and the Internet of Things (IoT). These technologies enable organisations to create modern business models to compete in the 21st century.

The ecosystem thrives on up-to-date technology and will continue to do so as long as there are innovators who can come up with new ideas for how we use it. Some experts predict that by 2020 there will be more than 5 trillion connected devices worldwide.

Everyone can testify that it is already happening; cars are becoming self-driving vehicles, phones have become voice assistants, drones can fly autonomously across oceans, and robots can work inside factories or serve at restaurants. The world has truly gone digital, full drive.

Businesses are moving their operation from on-premise to the cloud; organisations can now deliver more efficiently and at a faster and more productive pace. It is refreshing to know that you can achieve a whole lot thanks to technology via digital transformation.

2. From Complexity To Clarity With Digital Transformation

Digital transformation transforms an organisation from a traditional, siloed business model to a more agile and collaborative one. In other words, digital transformation is about creating an environment where employees can collaborate on projects that require multiple departments to work together.

Digital transformation also involves moving away from outdated technology systems and processes to newer ones that are easier to use and manage. When you are embarking on this journey, it’s essential for your company and your productivity. There are plenty of benefits when going digital;

  • Increased efficiency through better communication between teams
  • Greater collaboration between groups within one department
  • Faster decision-making because data analysis has been automated
  • Fewer errors were due in part to having fewer opportunities for human error and many more.

The internet community keeps growing daily, and you would not want to be excluded. Your ability as a business to deliver when others do not and can not endears you to the heart of customers, making them come to you, and you get to retain them.

It is a win-win situation for both parties. Digital transformation is necessary because it will enable you to carry out tasks that are complex in a simple and much easier way and still achieve quality.

3. The Vast Range Of Digital Transformation Possibilities

Digital transformation is a journey, not a destination. It is about identifying the needs of your business and then working with your IT team to identify solutions that will help you meet those needs. The possibilities are endless, and they depend on the;

  • What kind of digital transformation do you want to do?
  • How much time and money do you have available?
  • Who do you have in charge (including yourself)?
  • What technology is available or coming soon?
  • Which capabilities are most important for achieving your goals?

The good thing about this is that no matter what level you are, you can implement digital transformation and take your business to the next level, watch its growth and applaud yourself and your workforce. Today, people in the business world are waking up to the realisation that digital transformation is not a buzzword or phrase.

It is necessary to take your business up the success ladder and peg it there. Many businesses have been through digital transformation, but there are more than one-size-fits-all solutions. The digital enterprise is a journey, not an endpoint. You will be on this journey for years and even decades if you want to succeed with it.

It is important to remember that when you look at companies that have been successful with their digital journeys, they are all different, so there is no “one size fits all” solution for every business type or industry.

As a business, just as your goals, vision and mission are different from that of another business, that is how it is for digital transformation. If it doesn’t work for another company, it doesn’t mean it will not work for your company.

Refrain from making decisions based on the problems of others, and implementing digital transformation in your business will minimise mistakes and errors because your technology has stepped in and will save the day coupled with human resources.

 

Conclusion

Digital transformation is a process that can be applied to any business. It is not limited. In the same way in life, you can never get to a limit when it comes to being better; that is how, when it comes to digital transformation, you only get better and keep improving.

It involves the application of digital technology to improve processes and make them more efficient. However, it is essential to remember that there’s no one-size-fits-all solution to digital transformation.

Every enterprise has different needs based on specific goals and circumstances, so you should continually assess your situation before implementing any new technology into your company’s operations. Hence following the above points, people can repeatedly say that digital transformation is necessary for every business and is not a buzzword.

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