Digital transformation is the profound transformation of business and organizational activities, processes, competencies and models to fully leverage the changes and opportunities of a mix of digital technologies and their accelerating impact across society in a strategic and prioritized way, with present and future.
Digital transformation is necessary for all businesses, from the small to the enterprise. For many businesses in India, survival issue is most likely the reason for undergoing digital transformation.
Businesses don’t transform by choice because it is expensive and risky. Businesses go through transformation when they have failed to evolve.
In a digitally driven era, companies need to step up their innovation and operational efficiency, customer experience, brand and marketing efforts, as well as cut cost. To achieve this, they rely on certain factors, popularly referred to as SMAC:
Social media: to interact with their customers.
Mobility: shifting the focus of application development to a “mobile-first” approach.
Analytics: enabling enterprises to explore large volumes of data to gain insights and drive strategic decisions.
Internet of Everything: opening significant opportunities by connecting everything to internet
Cloud: reshaping the way software and services are sold and delivered
These technologies have are integral for digitizing products and services, customer experience, operations and workforce.