Digital transformation process — the use of technology and innovation to drastically change and improve performance or reach of enterprises — is the most discussed for Enterprises across the world. Business Executives are using the latest technology such as analytics, mobility, social media and smart implanted devices along with improving their application of traditional technologies such as ERP to change customer relationships, internal processes and value propositions. Other Business Executives, seeing how fast digital technology and innovation disrupted media every industry in the past decade, know they need to pay attention to changes in their every industry now.
Where all can you look for Digital transformation process?
The Enterprises are moving forward are at different paces and experiencing different levels of success. Some are changing many parts of their enterprise while others are still doing only the primary basics. Many are encountering organizational issues or other business challenges that prevent them from transforming successfully.
Several Enterprises are now offering self-service via digital apps. This lets the customer to save time, while saving the enterprise customer service costs. Many Enterprises are now offering customer service apps to enhance customer touch points. For example, in some medical institutes, smartphone apps are linked to the customer’s profile, enabling integration across SMS, apps and social media efforts.
Operational Process transformation
Transformed customer experiences are the most visible — and the most exciting — aspects of transformation, Enterprises now even understand the importance of transforming internal processes through process digitization, performance management and worker enablement.
Automation enables Enterprises to refocus their people and resources on more strategic goals. With automation researchers can focus on creativity and innovation instead of wasting time on repetitive tasks. This creates pool of data insights that can be useful in later data mining tasks.
Individual-level work has, in essence, been virtualized — separating the work process from the location of the work. A financial services business rearranged its headquarters so that nobody had an assigned desk, even the CEO. Employees now work from home one or two days per week and, when they are in the office, sit near people with whom they are temporarily collaborating. Meanwhile, the enterprise’s collaboration and networking tools allow employees to talk with anyone in the organization from wherever they are sitting. This is setting the stage for further changes related to globalization.
The tools that virtualize individual work, while implemented for cost reasons, have become powerful enablers for knowledge sharing. Salespeople and frontline employees, for example, are beginning to benefit from collaborative tools in which they can identify experts and get questions answered in real time. They are also increasingly gaining access to a single, global view of the enterprise’s interactions with a customer.
Transactional systems give Business Executives deeper insights into products, regions and customers, allowing decisions to be made on real data and not on assumptions. This is happening in both internal processes and customer-facing processes. The level of detail is also increasing, allowing managers to compare status across sites or reallocate product manufacturing capacity in ways they could not do before.
Transforming Business Models
Enterprises are not only changing how their functions work, but also redefining how functions interact and even evolving the boundaries and activities of the firm.
Digitally Modified Businesses
The enterprise is finding ways to augment physical with digital offerings and to use digital to share content across organizational silos.
New Digital Businesses
Enterprises are also introducing digital products that complement traditional products. For example, a sports apparel manufacturer started selling GPS and other digital devices that can track and report on a customer’s workout. Other Enterprises are changing business models by reshaping their boundaries through digital.
A mortgage enterprise is moving from being a link in the value chain to being a global assembler of investment products. An airport authority is aiming to become the owner of a traveler’s end-to-end process by providing an integrated multichannel experience, including information on airplane traffic and reservations, duty-free shopping promotions and other benefits.
Enterprises are increasingly transforming from multinational to truly global processes. Digital technology and innovation coupled with integrated information is allowing businesses to gain global synergies while remaining locally responsive.
These Enterprises benefit from global shared services for finance, HR and even core capabilities like manufacturing and design. Global shared services promote efficiency and reduce risk. They even promote global flexibility.
Digital transformation process requires strong management and leadership vision to drive change. The vision defines what parts of the enterprise you want to and have to transform. Enterprises in every industry and irrespective of location are trying and exploring with — and benefiting from — Digital transformation process.
Be it in the way individuals work and collaborate, the way business processes are executed within and across organizational boundaries, or in the way a enterprise understands and serves customers, digital technology and innovation provides a wealth of opportunity.