Digital business transformation is a paradigm shift.Organizations are racing to digitize their services where more and more people are using more technology, from more locations and more devices. In this digital era, customer, partner, and supplier expectations have changed and a gap is opening between what they expect from their interaction with companies, and what those companies are currently able to deliver. Enterprises not meeting customer’s expectations will be at risk becoming obsolete or can lose ground to newer entrants and new businesses that are poised to disrupt markets with innovative products and services.
The most important shift to respond to such demands is creation and delivery of digital services: mobile apps that are intuitive bring contextual information to people based on their personality, location and their activity. This explains the fact that a new approach is needed in today’s business – one that’s real time, intuitive, automated, secure and open to meet the 24x7 technology needs of the customers. If you see startups they don’t need to consider digital transformation, it’s already ingrained in their DNA. They always focused on mobile usability and digital experience. Companies like Uber and Airbnb, for example, started on mobile devices to capture a specific market. Travel and leisure are areas where customer behaviors have shifted hugely towards digital. These companies’ successes come from recognizing this shift.
Even CIOs of enterprises can create competitive advantages through strategic use of cloud based services alongwithSMAC, Big Data and Internet of Things. These technologies will help accomplish broad business goals such as driving revenue growth, targeting new markets and improving customer service. CIO and IT department jointly can create more digitally strategic approach in making users more productive and it is observed that the companies grow further where IT plays a partner role in both implementation and achieving business impact.
Gartner estimates that by 2020, 75% of businesses will be digital, or have digital business transformations underway. However, only 30% of those efforts will be successful. Another survey by MIT Sloan Management Review and Deloitte found out that maturing digital businesses are focused on integrating digital technologies, such as social, mobile, analytics and cloud, in the service of transforming how their businesses work. Less-mature digital businesses are focused on solving discrete business problems with individual digital technologies. Some highlights are below:
- Digital strategy drives digital maturity
- The power of a digital transformation strategy lies in its scope and objectives.
- Maturing digital organizations build skills to realize the strategy.
- Employees want to work for digital leaders.
- Taking risks becomes a cultural norm.
A deep understanding of how you can make your customers digital ready will help you reach digital maturity. The simpler you make each users’ experience, the more likely they are to become customers.
At CIGNEX we’re made up of more than Open Source experts. We evaluate the IT portfolio of an organization to identify improvement/ optimization opportunities, provide recommendations & develop solution blueprint and roadmap leveraging suitable open source technologies to reach the desired end state. Our team has a digital mindset for new services and products and we actively work to convert and automate customer-facing services.
Recommend checking out Liferay’s “Defining Digital” Series that discusses various concepts around Digital Strategy and Experience.