What is Digital Transformation?
True digitization is when every IT design an organization creates, starts from a customer viewpoint, thinking about what the customers’ needs are and how he or she wants to get information and use it.” Tony Scott, CIO, United States of America, 2015 -2017.
“The value of the transformation is evident in the digital lives we live today and whom we chose to do business with – Yellow Cab or Uber. We help our clients think of how their customers wish to do business with them and not the other way around”. Desh Urs, CEO, iBridge LLC.
Driverless cars, no-checkout-required grocery shopping, robotics, the Internet of Things (IOT), on-demand 3D-printed parts, drone package delivery, artificial intelligence (AI), worldwide collaboration through on-line video conferencing and APPs – the Digitally Transformed world is here. The customer is the center of this conversation.
Digital Transformation (DT) is ours to embrace. The smaller you are, the nimbler you are. Think multinational and their decision-making process, and now think how much faster you can affect change. Let no one convince you DT is just for large multi-national firms. We all must plan and execute for a transformed world. Understanding your customer, better, is one step in this journey.
Change is evident in everything we do. Compiled highlights from both the WEF (World Economic Forum) and CMO (Chief Marketing Officer, research by Adobe) should put a bright light at what is coming at us and why embracing this change is not just to be competitive but ensures survival, but also to create a legacy business or to sell or merge. It is work, but doable. It takes resources but if done right not does not consume the business.
- By 2030 there will be 1 trillion internet-connected devices (WEF)
- 87% of survey respondents see Digital Transformation (DT) as an opportunity for competitive advantage (CMO)
- 27% see DT as a matter of survival (CMO)
- 30% of revenues will be generated from new business models by 2020 (WEF)
- 75% of marketing budgets will be digital (CMO)
- 32% of companies in emerging economies believe they will be digital businesses in 5 years (CMO)
- The 3rd biggest obstacle to DT is a firm’s IT systems (CMO)
- 72% of CEOs are struggling to source digital talent (WEF)
The trajectory is set. The time to act is now. Call us and let us help you think through the next steps.
For more information, contact us at email@example.com. We welcome all questions.