Many companies struggle with processes that can’t keep up with the pace of change, outdated business models, and an inability to stay competitive in a rapidly evolving global market. While adapting to these types of changes may enough to keep the lights on, rarely does it lead to differentiation. What these companies need is to transform their business in a disruptive way that drives progress. We believe that digital transformation can lead to the kind of progress that can make a difference for a business, its customers, its industry, and the world at large.
But what exactly is “digital transformation”? Chances are you’ve been hearing the phrase bandied about; but you may not know what exactly it means—or why you should care. CIO.com defines digital transformation as “the acceleration of business activities, processes, competencies, and models to fully leverage the changes and opportunities of digital technologies and their impact in a strategic and prioritized way.” But more than just acceleration, digital transformation is about the need for businesses to outpace digital disruption and stay competitive in a rapidly evolving business environment.
At its core, digital transformation is all about disruption. Whether that disruption is beneficial or devastating depends entirely upon where you find yourself on the wave—at the crest or at the bottom. To embrace digital transformation, you need to make it part of your corporate DNA. You need to start figuring out:
- How to uncover the pockets of innovation in your company—and turn them into opportunities for organizational and go-to-market transformation
- How you can put the structure in place to support digital transformation—and make it sustainable
- How to create a clear digital vision with a strategy for digital transformation
- How to harness data science to drive transformation
- How to position your employees and your organization to successfully execute a digital transformation strategy
