Digital transformation or digitization is the need of the hour. The term means using technology to radically improve existing business processes. Advances in mobility, social media and analytics combined with a better use of existing systems have all fueled the growth of digitization. As a new age organization, here's an easy primer to encourage your enterprise set its digital transformation goals for 2016. Three elements of Digital Transformation: 1) Altering the Consumer Experience: Organizations have begun to make investments that help them understand distinct market segments and geographies. Social media too is being leveraged to understand what makes customers happy or unhappy. Apart from this technology is also driving in-person sales pitches. For instance, insurance companies use tablets to make presentations to prospective clients. All these modifications are making a positive impact on the way customers and clients engage with businesses. 2) Improving Business Operations: While revamped customer experiences are the most obvious of changes, companies have also begun to see the benefits of streamlining internal processes. This is achieved by digitizing workflows, employee enablement and better performance management. Automation helps firms and workers to concentrate on the more strategic tasks. 3) Transforming the Business Model: Businesses are not only automating internal functions but are also changing the way these functions interact with each other. The boundaries between organizations and activities are blurring rapidly. In addition, companies are also beginning to transform from multinational to being truly global. Technology along with integrated information is enabling businesses to take advantage of going global while staying locally responsive. |
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