What Digital Transformation is Really All About
People make the mistake of confusing digital transformation to mean altering ones mode of processing things. This means that any existing physical or material thing is digitized or computerized in digital format mainly for the purpose of efficiency. Paper forms became electronic forms, cash became computer information or bits, paper documents became paperless forms, logs and invoicing of a sales transaction became sales-force automation and ERP.
This is digital transformation in essence although there is something else that this word denotes. If we stop at the digitization part of the definition, it actually missing a lot of things because this actually means a digitally transformed business that involves the entire ecosystem of the business. What this includes are the supply chain, partners, customers, crowds, and employees.
Stopping at digitization alone misses the transformation part which designs everything or transforms everything from the physical and material into a virtual form. And there are a multiple good reasons for that. Digital transformation then is about more than digital products and services, it is also about the processes that create, enable, manage, and deliver them in a virtual arrangement.
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A lack of data processing in real time is a good reason why businesses today will die if they fall on the wrong side of this transformation. This has always been the shortfall of those who follow traditional ways. And today when it comes to identifying opportunities and determining risk, analyzing data and historical data mining is very critical since we are living in a fast paced age.
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If you are able to use real time insights to enable your customers, workers, supplies, and machines to seize opportunities immediately and take collaborative action at the moment of greatest impact, then you have a managing edge over all your business resources.
By increasing automation, usability, collaboration, and real-time processes to improve efficiency would also mean not only capturing the individuality demanded by customers but also improving the economics of your business processes.
An added value is created which goes beyond the boundaries of the enterprise if all your internal business processes, labor, ecosystem partners, and customers are connected to deliver a new level of transparency. Being on top of these boundaries means that you can leverage the power of these new networks and reevaluate how to widen the value that you deliver to each including your customers.
Also, by developing new solutions, processes, services, and business models that is buoyant to your suppliers and customers, you can expect that it will deliver innovated outcomes strengthened by better tools and updated equipment to comply with those recognized needs.
What these patterns recur, then these constitutes the dynamics of this type of transformation. It is a never ending cycle that is constantly developing, and to be behind digital transformation or to fall on the wrong side of it, is plainly on its way to extinction.