What Digital Transformation is Really All About
People make the mistake of confusing digital transformation to mean altering ones mode of processing things. Meaning, a means to digitize or computerize an existing physical or material adaption into a digital form mainly for efficiency. It transforms paper forms into electronic forms, cash becomes computer information or bits, paper documents becomes paperless forms, logs and invoicing of sales transactions become sales force automation and ERP.
There is more to digital transformation that what we have seen in its essence. The digitization part of the definition is just a part of the whole thing which actually means a digitally transformed business that involves the entire ecosystem of the business. What this includes are the supply chain, partners, customers, crowds, and employees.
To stop at the digitization part is to miss the transformation part, which is designing all these items from the physical and material order into a virtual form. And there are many good reasons for doing this. Digital transformation is more than just products and services, but it is about processes that create, enable, manage, and deliver in virtual arrangement.
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One good reason why businesses today will die if it falls on the wrong side of this transformation is the lack of data processing in real-time. This has always been the shortfall of those who follow traditional ways. And especially today where we live in a fast pace age, analyzing data and historical data mining has never been more critical when it comes to identifying opportunities and determining risk.
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If you are able to use real time insights to enable your customers, workers, supplies, and machines to seize opportunities immediately and take collaborative action at the moment of greatest impact, then you have a managing edge over all your business resources.
If you increase automation , usability, collaboration, and real-time processes to improve efficiency, it would mean not only capturing the individuality demanded by customers but also improving the economics of your business processes.
By connecting all your internal business processes, labor, ecosystem partners, and customers, to deliver a new level of transparency is simply creating an added value which goes beyond the boundaries of the enterprise. And when you are on top of these boundaries, you can leverage the power of these new networks and reevaluate how to widen the value that you deliver to each including your customers.
To be able to deliver innovative outcomes strengthened by better tools and updates equipment to comply with recognized needs, there is a need to develop new solutions, processes, services, and business models that are buoyant to your suppliers and customers.
What these patterns recur, then these constitutes the dynamics of this type of transformation. The cycle never ends and it is constantly developing so if you end up on the wrong side of this transformation or if you are behind it, then your business is in danger of extinction.