Digital Transformation is the latest buzzword in many tech companies and businesses worldwide. Although a lot of organizations have started to adapt to this latest trend, many are still unsure about how to proceed with it. While the phenomenon of digital transformation is now practical reality, there are still a lot of myths surrounding it. So let’s have a closer look at some of the misconceptions companies tend to have when it comes to Digital Transformation.
Myth: Digital transformation has nothing to do with business outcome
Reality: There are widespread wrong notions about why a company must go for digital transformation. Some companies simply choose digital transformation since everyone else is doing it, whereas others think that it is better to opt for it as it is recommended by industry insiders and analysts. However, the application of digital transformation must have a direct relation to business outcomes such as revenue, increased profit margins, the cost of the products, better customer retention and customer engagement as well as repeated buying of products. The organization looking to implement digital transformation should have clear goals from the very beginning so that they have a precise notion of what they are trying to change and achieve.
Myth: There is no difference between digitization and the concept of digital transformation
Reality: One of the most important misconceptions that may people tend to have is that digitization is the same thing as digital transformation. The truth is that they are two very different things and both of them are important in their own ways. So, while digitization involves the use of digital tools to improve efficiency and lower the business costs, digital transformation works as a customer-oriented value proposition. The operational implementation of digitization can ensure better use of accessible data and increase reliability and predictability. Digital transformation makes use of digital technologies to enhance the existing assets of the organization with the sole aim to boost revenue margins and improve customer experience.
Myth: Digital Transformation has nothing to do with information technology
Reality: When an organization is looking to make use of digital transformation, they should balance the use of front-end digital technologies like websites, applications and online stores with the back-end services like the enterprise resources planning or ERP applications, customer relationship management or CRM apps and the billing systems. Additionally, they should also sync smoothly with each other. A lot of the organizations implementing digital transformation actually fail to get the desired results since they are not able to blend the front-end technologies with the back-end solutions along with leveraging Cloud services. By leveraging Cloud services during Digital transformation, it is possible for organizations to manage all of their data smartly and keep them secure against any kind of damages. This can definitely help the business to gain competitive advantage over other firms as compared to the traditional on-premise digital services. Organizations should understand that IT forms the basic structure for digital transformation.
Myth: the process of digital transformation can be handled in a very short time
Reality: The truth is that digital transformation really takes a lot of time to be implemented properly. It is important to carefully plan and strategize the digital transformation so that the workforce can adjust to it properly. An organization should be patient through the whole process so that the best results can be achieved.Digital transformation is now essential for all kinds of organizations, whether large or small. It always helps to be well aware about the intricate aspects of digital transformation so that the businesses can benefit the most from it. With the help of digital transformation, it is possible for a business organization to streamline their tasks and improve the functioning of their company in a major way. This has naturally increased the importance of digital transformation in the recent times. By implementing the best of digital transformation strategies, you can focus on making the best use of your available resources. The best digital transformation solutions can also help you to have an edge over your competition.