Digital transformation is the profound and accelerating transformation of business activities, processes, competencies and models to fully leverage the changes and opportunities of digital technologies and their impact across society in a strategic and prioritized way.
Why is it Needed?
To Transform Customer Experience
- Better Customer Understanding with customer behavior, segmentation based on Analytics
- Boost Top-line growth by streamlining process and predictive marketing using digital products Digitizing
- Customer touch points through cross channels like social media and apps (Self-service) and resolving their queries in first place
- Process Digitization with automation to improve performance
- Staff Enablement by making them enabled to work anytime anywhere with better communication
- Performance Management through transparency and insights based decision making
- Digitally modified businesses with products/services augmentation, transforming everything Digital
- Digital Globalization using globally shared services.
- New Digital Businesses with new digital products like Nike (Fuel Bands)
Stages of Digital Transformation
- Business as usual
Organizations don’t adopt the change and are in denial. The remain stagnant in terms of processes, technology, customers and business models. The legacy follows and the funnel remains the same.
- Present and Active
You start considering customer experience and pays attention to it. Companies explore various channels to reach out their customers. They become conscious about mobile, social and other digital platforms. Basically Digital disruption begins.
Here comes the transformation phase, the collected data influences the decisions being taken at the management level. Initiatives starts taking place and they are intentional and result - oriented. It eventually creates demand for resources enabled with new technology.
This is the stage where it completely becomes customer centric. Different department of the organization come together based on their research, work and insights make the road map for the digital transformation. The funnel is restructured.
Now you have the proper digital transformation framework. A dedicated expert team mentors to strategize and oversees the operations to achieve the desired business outcomes. The new organization infrastructure forms in terms of roles, expertise and processes.
- Innovative and Adaptive
The change is embraced and it becomes a way of life. Now every part of the organization has a new eco-system not just to follow but it also identifies the market trends and emerging technology. Now this transformation is a new "Business as usual’.