Fundamentally, digital transformation is about changing the way people work by modernizing their processes and ways to communicate and provides organizations with the opportunity to change and improve their industry.
When surveyed about the importance of digitization to their organization, enterprise users in this MIT Sloan study. Businesses need a clear strategy to take advantage of the opportunities offered by emerging technologies.
Strategic goals should be identified in the following 5 areas:
New sources of revenue can be enabled by digital business
Industry analyst firm IDC predicts that digital transformation could generate as much as $18 trillion (US) in additional business value for companies worldwide.
Research firm Gartner suggests that by 2020, digital commerce will represent over a third (36%) of an average company’s overall revenue.
To do that, and to do it well, companies must rethink the digital tools they use – and how they use them to encourage collaboration and innovation.
Industry leaders today are in the unique position of being able to reduce costs and tap into new revenue streams thanks to APIs, self-service, applications and more.
What are the greatest benefits that a new digital strategy could deliver to your business – and your users?