/What is Digital Transformation and Why Should You Care?
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What is Digital Transformation and Why Should You Care?

The Digital Transformation train has long departed from the station, and it’s not going to be stopping anytime soon. If you haven’t heard about the latest buzz around organizations “going digital,” let us take you through the basics and explain its relevance. In short, Digital Transformation is a company initiative to modernize applications and processes. This often in more agile decision making, faster innovation, and even improved culture.

This is all in an effort to optimize the experience and revenue generated from the customer.

This is much more than new-age jargon or buzzword. Companies that successfully transform are often industry leaders in extremely competitive spaces. The new era also opens up a vast market for vendors that can support the journey.

But why would an enterprise transform in the first place? And what kind of companies would do so?

If you’re a business that is facing competition from other industry leaders or niche startups and have outdated processes or products, then you’re likely a candidate for digital transformation.

It’s not just technology companies like Amazon that can engage in this initiative. The product itself doesn’t necessarily need to be ‘digital’ to undergo a Digital Transformation. A hardware company could modernize legacy internal applications to improve customer experience.

The examples are endless, but we can with your friendly neighborhood coffee giant – Starbucks.

Starbucks revamped their business with the launch of their mobile app. As a brick and mortar store with competition from other giants and local shops, their app drives customer loyalty by enabling them to earn rewards, skip lines, and enjoy a convenient experience. The Starbucks app is also a fantastic vessel for collecting user feedback and behaviors. By tightening the feedback loop, Starbucks can also better market other products to its customers and make data-driven decisions on future campaigns.

Looking for more examples? Here’s a few links to external reading on various industries:

There’s no clear roadmap or checklist for a Digital Transformation. It’s quite specific to an organization’s customers and markets. However, there’s plenty of common ingredients to pull off a successful transformation. If your company’s offering can serve one or more of the following, there’s a strong likelihood you tie your products or services to a much larger initiative. By doing so, you can better market and sell to enterprise organizations i.e. why you should care!

  1. Software Development
  2. Software Testing
  3. User Experience
  4. Customer Engagement/Tracking
  5. Integration for both Internal & External Systems
  6. Data & Analytics
  7. AI
  8. Internal Communication (especially between departments of large organizations)
  9. Mobile Applications
  10. Sales & CRM
  11. Multichannel Marketing with IoT
  12. Leadership Consulting
  13. Modern Database and Cloud Hosting
  14. Source Code Repos and Versioning Control
  15. Project Management

 

Very few, if any, vendors provide all the needed tools and services needed to achieve a successful transformation. This leaves the door open to those who can correlate their offering with the initiative, especially if it modernizes an inefficient legacy process.

As a quick example, a Data/Analytics provider can pitch that real time reporting allows teams to make faster, smarter decisions in every business unit. Have trouble making the connection? Drop us a note at hello@foxbound.io, we might just be able to help you craft a pitch and provide the means for delivering the message.

For more information on the topic CIO.com is an excellent place to start. It’s one of their most-covered topics!