#DigitalTransformation

DigitalTransformation is the most discussed about topic, with a ‘hash-tag’ that is, in the world today. Not for anything this has become the hot and happening topic in the business world. The potential of business opportunity and a vast reach across the globe makes it only ideal for every business to grab the opportunities at the earliest, and for the better. Be it B2B or B2C or P2P, each and every business, of any size, spread and reach, could sense the real potential and real benefits in getting into #DigitalTransformation.

Initiated by the baby boomers and driven by the millennials, #digitaltransformation is just spiralling across the globe impacting everything from people, business and things. There’s no point in debating which way would it go. Businesses have left with no choice but to adopt this transformation and adapt to changing technology landscape at the earliest. However, most important aspect is that a clear strategy and roadmap need to be defined for the businesses, and this strategy needs to be fully aligned with the business strategy.

Digital transformation is not just about moving to new technologies, though without them transformation would not be possible. But the customer experience is the one that plays a critical role, and the business models need to be revamped as this transformation is coupled with business and technology for a better customer experience. It helps create new thought and perspective to the business, away from the traditional methods. It provides opportunities for the involvement of all levels within the organization, from customer facing front office to back office operations, and from the top management to junior executives for an inclusive growth of the business.

This transformation need to be led by the top management, setting the priorities absolutely clearly with realistic goals. Organizations need to imbibe a culture that encourage test-and-learn approach, risk-taking entrepreneurial mind-set to achieve these goals successfully. Old war horses within the organizations should give way to the new generations if they cannot adapt to the changing landscapes.

Governments too are trying to exploit the digital transformation to reach all their citizens across their geographies. Regulations are being redrafted, breaking the political influences, in important fields like Banking and Finance, Industries, Manufacturing, etc., and they could see the tangible benefits, and a reflection of this could be seen impacting governance to move to e-governance. Citizens could reach their governments through the digital media, and even the heads of the governments reach out to the external world through the digital media, hash-tagging their agenda.