Do you remember the last time you turned ON or OFF a Knob? trying to remember, isn't it? we challenge that it must have made you dig into your memories. We totally sympathize with you if those old memories brought with itself a lot more than the context of our question or claim. The equipment has transformed to touch and remote-based push buttons, haven’t they? these in the point of civilization are best referred to as "Innovation" and in the technical sense, they are the indirect definition to the well celebrated and fast-evolving Digitization. A term that more than its definition can best be identified by the new way our living, the way our approach to the regular day to day activities have changed or should we say transformed, in fact, transformed.
Digital Transformation is an adaptive change that does not follow any specific manual, it changes for every company or household. Basing our discussion to businesses that vary in form and size, let us try to understand what Digital transformation means in their language. The Fundamentals of most business is specific to its offerings, let us consider the Banking sector, every task in a Banking premise is accounts driven. These Accounts that are invariably held individually or Cooperatively yet become the epicenter from where the transaction begins or ends. In the times a few decades ago, these accounts were written numbers of ledger books that were held locally to the specific branches and confined to the branch itself. In the Digitally attire of Banking of the current generation, Accounts are digitally held within the semiconductor ecosystem of memories and chips, these accounts are now available irrespective of their Branch of Origin. Such a transformation has helped Customers to avail banking services centrally without any dependency on the origin Bank Branch. flexing the arms of Digitization to other verticals such as Finance, Telecom, Manufacturing, Hospitality the capabilities with Digitization has, without doubt, helped the progress of these domains to meet the demands of the ever-evolving technologies.
Digitation brings with itself the imminent change of culture in the way businesses had been conducted earlier, with a cultural influence on the various business processes companies have tried to keep pace with its competitors not allow any edge over the technical capabilities that may danger their brand. It requires companies to continually challenge the status quo, experiment often, and get accustomed to failures in implementation and challenging them to make it better. And the added advantage of experimentation in a Digital framework is that ideas can be redesigned and implemented over and over again, till the profit margins pick up. Although the fact that trying out something new in the digital fortress may just not be perceived the way customers would have expected adds to a degree of risk in this venture.
Going with the strong belief that "Businesses need change whenever they have failed to evolve to the market", the value add with Digitization can be best professed when the CIO of a company plans for the Digital transformation with an intention to enable their services offerings with better options. In a sense where its customers are more comfortable and able to complement the Digital offering or transformation. Transformations are traditionally valued and appreciated when they help ease out any unwanted redundancies or incompetence with their service usage by the users.
A quick list to summarize the prowess of Digital transformation implementation are
- Customer Satisfaction
- Operational Agility
- Technology Integration
Digital Transformation is Game Changer be it any business, in this fast-moving Digital Future, how well it has been implemented can be witnessed when business parallels their customer demands with all aspects in place.