Digital Transformation FAQs
Successful organizations embrace digital technologies because they know this generates greater value for customers and provides an environment for employees to thrive, which equals higher profits for the business.
Digital transformation is the single most important opportunity that enables organizations to leverage bridge technologies across all aspects of the business. Done properly, businesses reap the benefits of more informed decision making, improved processes and better communication, all resulting in an exceptional client experience and improved bottom line.
When done ad hoc, businesses risk employees becoming less productive, processes breaking down and clients getting frustrated, potentially leading to customers and employees looking toward the competition.
In the past, savvy executives look for new growth opportunities, then implemented technologies such as a CRM to boost sales, line of business, applications to get more visibility into the business, or team collaboration tools to improve internal communication.
However, these initiatives did not always go as anticipated. Some failed entirely, others delivered less than desired results, and many just went way over budget. The reason failure has been so common is twofold.
First, internal IT personnel and outsourced IT providers do not understand the business, tend to focus solely on the technology. Then, they do not provide a systematic approach for executives to uncover opportunities, plan initiatives, and successfully execute projects.
Keeping up with change and staying ahead of the curve requires businesses to employ a systematic approach to ensure digital transformation initiatives are well planned, flawlessly executed and rapidly adopted across the organization.
With BizTRAQ, COBAIT’s mission is to make digital transformation simple. It provides a simple framework, tools, guidance, and resources for businesses to get the most out of digital technologies that lead to lasting innovation and success.
Digital Transformation FAQS – 9 Things You Need to Know
Let’s look at some of the most important Digital Transformation FAQs
1. What is digital transformation?
Digital transformation is the process of using digital technologies to create new — or modify existing — business processes, culture, and customer experiences to meet changing business and market requirements. This reimagining of business in the digital age is digital transformation.
2. What technologies enable digital transformation?
Top 5 Digital Transformation Technologies for 2022 and beyond
- Cloud native apps and services.
- Internet of things.
- Mobile apps.
- Artificial intelligence and machine learning (AI & ML)
- Real-time analytics.
3. Why is digital transformation important?
Digital transformation puts technology at the core of business strategy. This approach can reduce operating expenses and inefficiency. It could even change the course of your business. With a unified model across business and technology, it’s easier to achieve future ambitions. What is digital transformation strategy?
4. How is digital transformation driving customer experience?
Digital transformation offers organizations an opportunity to understand the modern-day buyer, engage with them and deliver on their expectations with a multi-channel customer experience.
5. What are the 4 main areas of digital transformation?
There are four main areas of digital transformation, each presenting its own challenges and opportunities.
- Customer Experience (CX)
- Data & Analytics
- Cloud Computing
6. What is digital transformation in healthcare?
What’s needed for digital transformation in healthcare are digital platforms that enable the fast and secure exchange of data across settings, offering a comprehensive view of the patient wherever they are being diagnosed, treated, or monitored.
7. What are some digital transformation examples?
Transitioning into a remote-first workspace. Using design thinking to analyze and optimize the customer journey. Implementing automated customer service. Using AI-driven insights to improve sales efficiency.
8. Why do digital transformations fail?
Digital transformation projects fail when there is no change management strategy — a structured process that helps people understand and embrace business changes. Research shows that when organizations follow a change management strategy, they are 6x more likely to meet their digital transformation goals.
9. How to digitally transform your business?
- Define your goals and mission.
- Get everyone on board with the transformation.
- Set KPIs that define success.
- Identify the technologies you’ll adopt.
- Focus on your company culture and change management.
- Consider a phased approach.
- Track success with KPIs.
- Gather post-implementation feedback.
- Celebrate milestones and achievements.