When you search for a definition of digital transformation, you will land up on different kinds of articles and quotations from industry experts, describing what it is and how it is changing the technological culture in the world. To put in simple terms, digital transformation is a deep-seated shift that has brought the world literally at our fingertips, affecting the way businesses run, providing unique customer experiences, and improving business efficiencies. It primarily focuses on reimagining some of the fundamental business processes across an enterprise.
The success of a digital transformation strategy must be approached in a holistic, tactical manner. And it’s certainly not just about technology. Once the new, digitized processes are implemented, the change in the organizational culture and mindset must be managed to foster adoption.
A digital transformation strategy should refrain from looking too deeply into the future because the future might hold new technological capabilities. It is also vital that all functional sections of an organization collaborate to create a common strategy which fosters recurring growth, productivity, efficiency, and positivity. The road to digital transformation is challenging and the industry leaders must be prepared to address those challenges as they undertake the transformation initiative.
The infographic below explains the five critical components of a digital transformation strategy to help an enterprise prepare for these challenges.