Every digital transformation strategy needs to start with “why”
Investing in digital transformation is no doubt the right course of action for most organizations. Still, many have struggled to achieve the desired results despite pursuing large-scale digital transformation efforts, with a statistical survey estimating a failure rate of about 70 percent. To some extent, this rate is not entirely surprising.
Digital transformation: 3 simple strategies to get yours moving forward
We talk a lot about a technology-driven economy, but technology does not solve problems –people do. Technological investments depend on people.
For organizations trying to make a digital transformation, it can feel like people are stuck. Even when shifting to a digital environment is necessary for teams to function, there can be reluctance, hesitation, and in some cases, difficulty adapting to new kinds of communications and behaviors.
Why are some businesses still struggling with digital transformation?
DIGITAL transformation (DX) among businesses during the Covid-19 outbreak was a watershed moment, as it required businesses to relocate to online platforms in order to stay viable. Over the last two years, there has been an increase of DX among SMEs (small and medium enterprises), but there is still a percentage of businesses that are truly hesitant to adopt it.
Global Digital Transformation Market Improving Business Processes, Techniques, And Consumer Experiences
Global Digital transformation Market is the method of improving business processes, techniques, and consumer experiences digitally to transform operations. The methods vary significantly based on end-consumers and requirements. However, digitalization is at the heat of these changing business practices aimed at reaching new consumers and creating new channels for growth.
How to Map Out Your Digital Transformation
If digital transformation is supposed to be meaningful and lasting, companies must think about changes in products and processes more than changes in technology. But many companies struggle to look past the shiny promises that usually accompany new technologies. As a result, they dedicate too many resources and too much attention to the technology side of digital transformation projects. One approach to counter this imbalance is to think of digitalization as business model innovation rather than technology-related change. The author shows how one simple, well-known tool — the business model canvas — can facilitate the necessary shift in perspective.
Digital Transformation Services Trends to Follow in 2022
Digital transformation integrates the business areas to deliver fundamental value to the customers. Digital transformation services open doors for developing business models for several products and creating deliverable value for clients to make profits. The ongoing transformation in technology during the 2020s had multiple facets for businesses.
What are the five layers of digital transformation?
Digital transformation is all about strategically leveraging technology to drive value across all areas of the business. This could include migrating from on-premises to the cloud to reap cost savings and enable scalability or introducing data analytics and business intelligence tools to derive insights. Every business is unique, however, and the digitalization end state for you may be different for others.
Digital Transformation: How To Future-Proof Your Business
Covid-19 delivered catastrophic blows to almost every facet of the business world. While the pandemic became a catalyst of innovation for some organizations, it was a wake-up call for others—especially those with missing or immature digital transformation initiatives.
Three pillars of success for digital transformation in financial services
Today’s financial services (FS) firms are operating in a difficult environment. The spread that money managers, financial advisers and lenders can command has been going down for more than 20 years, putting considerable pressure on revenues, says Winnie Palmer, EMEA head of marketing at Seismic.
Compounding this challenging trading environment is the increased expectation from modern clients who demand personalised experiences and access to bespoke information digitally at any time convenient to them.
7 Goals Your Business Can Achieve Through Digital Transformation
By adopting the power of modern technology and the internet, organizations can enhance their business processes and obtain better efficiencies. However, your business may not be ready if you haven’t established clear goals for digital transformation.
Digital transformation: 5 layers to build on
There’s no single approach to implementing digital transformation. Whether you’re just starting out or are well into the journey, consider these five layers on which to build your initiative.
Digital transformation is defined as “the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers.” That’s why every company’s digital transformation journey looks different. Ultimately, it is a paradigm shift in how you do business.
Digital Transformation in Hospitals
Given how technology has been transforming and building evolved business processes, hospitals are now gearing to engage digital technologies that will revolutionize the way they operate. Digital transformation will help hospitals make better logistical decisions and bring a faster response rate to critical functional activities. These will eventually enhance the quality and efficiency of care as well as the patient’s overall experience within hospitals. Technologies such as artificial intelligence (AI), machine learning (ML), advanced algorithms, and analytics will play big role in enhancing the immediate recognition of health indicators among patients.
Digital transformation: 3 roadblocks and how to overcome them
The future of any organization lies in its ability to adapt to a digital-first future, especially as the pandemic continues to boost demand for digital business service operations. With 65 percent of the world’s GDP expected to be digitized by the end of this year and the digital transformation market expected to be worth hundreds of billions of dollars by 2025, organizations simply cannot afford to forgo digital transformation if they want to stay relevant.
Access to Technology Has Played a Critical Part in Europe’s Digital Transformation Development
Digital transformation is one of the most important initiatives that organisations undertake in order to stay competitive in today’s digital age. The rate at which technology is evolving is astounding. It seems like every day, there is a new piece of hardware or software that can help organisations improve their productivity and efficiency. According to Contino’s Europe digital transformation report, the rise of technology has allowed organisations to move from traditional methods of doing business to more efficient and effective digital transformations.
Harnessing The Power Of Digital Transformation Will Be Key To Success For Quality-Focused Organizations In 2022
While digital transformation has been in manufacturers’ playbooks for the past few years, the effects of the pandemic, including supply chain disruption and worker shortages, will make it a business necessity in 2022. In fact, according to IDC, “More than half of all information and communications technology (ICT) investment will be linked to digital transformation by 2024.”