Digital transformation is more than just a buzzword for business growth. Earlier organisations operated mainly locally, but with technology advances, these days, any individual with a smartphone can be their customers. Every business now has potential access to the global market. 

Digital transformation helps businesses rethink how an organisation should use technology, people, and processes to change business performance fundamentally.

Playing a crucial element in enabling this is the concept of Digital Transformation. Technology is rearranging business in many ways, and the overall concern is that anyone without the newest technology in place will soon be left behind.

What is digital transformation?

Digital transformation helps businesses rethink how an organisation should use technology, people, and processes to change business performance fundamentally. Digital transformation opens new paths to growth by leveraging digital technologies, trends, operating structures, and business models. Digital Transformation refers to converting processes, activities, and models to meet digital economy requirements until it is a fully networked digital organisation.

Why is digital transformation a must?

Digital transformation strategy is no longer a vision for the future. It’s something that starts happening now and has already been adopted by some organisations. According to research, 85% of CEOs say the disruptive impact of new technologies has increased. 

Also read: Guide to flawless digital transformation

Tools of digitalisation

Here we are listing a few tools which can help you achieve the digital transformation you wish for your business.

• Logo
• Website
• CRM
• Corporate email
• Social media
• Digital catalogue
• Online store
• Online supply chain 
• Online selling
• Email marketing
• E-payment option
• Online business networking

Now that we’ve understood what digital transformation is and the tools for digitalisation. Let us know how businesses should plan on developing for achieving this transformation.

Questions you need to ask to develop a roadmap for your business

• How do we develop a roadmap that reflects the right digital priorities?
• What will your product and services look like in the coming 5-10 years?

Digital transformation journey in four necessary steps

1. Setting your digital vision

Develop a plan, align your objectives and business goals, know the problem your business is trying to solve and align their goals with the business's outcome. Set your digital vision at the plan you want to achieve with this journey. Understand what inspired you to transform your business digitally.

2. Benchmark current digital maturity

All businesses are at different digital maturity levels. Before you move ahead, you need to know where most businesses are placed, and you need to identify the stage your business is at.

Scenario 1 – Businesses moving up the digital maturity curve and creating real business growth

Scenario 2 – Investing heavily but no outcome

Scenario 3 – Still in fear and doubtful about the transformation

3. Defining the digital transformation

At this step, you need to identify which tools you should be using to gain value and growth. Some of the tools should be used as a must to remain competitive. You could also research on out of the box strategies which will help you innovate your new ideas for business growth.

4. Establishing the digital transformation road map

Once you have established the tool, you will be using it. Create a step – by – step precise plan for the digital future of your business with a timeline. The road map includes the plan, concept, prototype, and the final version. 

While the above are some core insights about digital transformation, and the need to kick-start the journey, this isn't everything. The critical thing to know is that there is a need to keep pushing forward, experimenting, and learning from mistakes/problems. Digital transformation is required for each industry.  

Also read: One small step by the SME owner…a giant leap for the economy

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