THE IMPACT OF DIGITAL TRANSFORMATION
Digital transformation has become a culture within businesses. Modern technology now defines the world of business organizations. The phenomenon of digital transformation has had a solid impact, most of it for good. Where it does bring challenges with itself, overcoming them pays off in the long run.
Hence, the updating of technology and processes within an organization should be embraced rather than seen as a change that should be resisted because digital transformation brings with itself the long term benefits of improvement in revenue and stock prices. An important change brought about by digital transformation is the improvement of customer relations.
With improved technology, customers can be provided with an array of choices with more clarity. Besides, customers can be guided and aided in making the choices that suit them best. With the availability of deeper customization, customer relations can potentially soar from satisfactory to excellent, inevitably leading to a boost to the business. Another revolutionary impact of digital transformation is the increased adaptability of business structures.
They become more flexible and respond with superb swiftness to any sudden changes. The quality to adapt effectively is crucial for any business in order for it to thrive. Digital transformation also increases the transparency at the organization. Futuristic goals are relayed to the inside staff and to the outside world with clarity. All data can be sorted and organized and thus utilized more efficiently. This can only be positively impactful.
For the practical application of digital transformation, a key element is an insightful, tech savvy leader who understands the importance of digital transformation and spear heads the revolutionizing of business structure with implementation of digital transformation.
An efficient tech support team is obviously an important requirement. A general attitude towards embracing technological expansion and improvement can take an organization far in the long run. Hasbro benefited from bringing about digital transformation by changing their marketing strategy and marketing toys to parents rather than kids. Nike also used digital transformation to reinvent their brand and supply chain. They established powerful data analytics, stronger digital marketing, membership opportunities, and innovative ways to connect with customers.
Digital transformation can take businesses from lagging stocks to industry leaders. The phenomenon can have its challenges too. For instance, it can be difficult for the staff to adapt to the digital disruption brought about by modern technology. Digital transformation is a multi-layered complex process that takes ground gradually. But once the phenomenon weaves into the organizational structure, there is no stopping. In this age, businesses must look out for opportunities to bring a digital transformation within their structure so as to adopt digital processes as tools to achieve business goals.