Discussions around the topic of digital transformation often take on a “do or die” flavour, with one party (often an authority) warning others of the perils of not undergoing a digital transformation. As an example: “Almost half of companies will shrivel up and die within the next decade if they don’t figure out how to accommodate new technologies and utilize them to best purpose.”
Digital technology is upsetting the proverbial apple cart, disrupting the way organizations do business and interface with customers. And with this comes new demands and new, much higher standards. However, for all these challenges, digital tech also presents companies with opportunities to grow, to gain knowledge, and, ultimately, to succeed in new and exciting ways.
Digital is now
Despite the fact that many organizations are wrestling with digital technology, it would appear that a large percentage have taken their first small steps and are on the road to digital transformation. Consider the following:
- By the end of 2017, two out of three Global 2000 company CEOs will have digital transformation at the center of their corporate strategy. Source
- 70 per cent of executives have started the digital transformation of their supply chains. Source
- Benefits of digital transformation:
- 41 per cent say “increased market share”;
- 37 per cent say “increased customer engagement”;
- 37 per cent say “increased employee morale”;
- 32 per cent say “better web and mobile engagement”; and
- 30 per cent say “higher customer revenue” Source
- 71 per cent of digitally maturing companies say they attract new talent on the strength of their digital vision. Source
A ways to go
Most companies have an enormous amount of work to do, to avoid falling behind in the digital era. In fact, the Forrester report “Digital Transformation in the Age of the Customer” tells us that a mere five per cent of companies (that responded) believe their digital transformation has progressed to the point where they can say it is a point of differentiation from competitors.
The time to go digital is now, while the fruits of opportunity still hang low. But first things first: companies must discuss and then map out a transformation strategy. Doing so requires not only will and a drive to succeed but also knowledge.
Can’t-miss webinar
At 1 pm ET on June 20, 2017, IT World Canada CIO Jim Love and Dell EMC’s Director of Portfolio Marketing, Adeel Omer, will be discussing the various ways you can embrace digital transformation to improve efficiency and ensure your customer experience makes the grade.
Jim and Adeel will be joined by NatureFresh Farms’ IT Manager, Keith Bradley, who will detail his company’s recent digital transformation.
Register now for “Three pillars of digital transformation and the impact on your business.”