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 re imagining of business in the digital age is digital transformation.
Organisations need to evolve to address the changing business landscapes. Ideally IT spending is driven by the need to meet business requirements. Business leaders want IT to be focused on business results, innovation, and continuous improvement. Digital transformation can be defined as the acceleration of business activities, processes, competencies and models to fully leverage the changes and opportunities of digital technologies and their impact in a strategic and prioritised way.
A Forester Consulting research study commissioned by Accenture Interactive found that the key drivers of digital transformation are profitability, customer satisfaction, and increased speed-to-market. To further clarify, the study asked decision-makers about their broad strategic priorities over the next year. The number one choice was “improving the experience of customers, ” followed by growing revenues, improving differentiation, and reducing costs. In my experience, this is easier said than done. Reminds me of what I used to tell my clients when I ran a software development company: “You can get it done cheap, done well, or done quickly. Pick two out of three.”
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