Driving Digital Transformation: What do Businesses Need to Keep in Mind?
Digital transformation has become a prominent need for businesses to effectively streamline business tasks and modernize operations. The biggest innovation occurs only when there is a user-driven digital transformation, according to business leaders.
To drive digital transformation, the mindsets of business leaders should change with time, and they need to take initiatives in tune with the changing business environments. Disruptive technologies can alter the entire course of an industry. To move with the time and to prevent digital disruption, it is vital for businesses to advance with digital transformation.
Changing demographics is another key factor that pushes digital transformation as baby boomers have begun to retire from the service. This has caused businesses to feel a generation shift in both customer, and workforce perspective and the millennials have already begun to lead the society leaving baby boomers far behind. The former expects agile services through updated technologies, and this indirectly forces companies to take steps for digital transformation.
Technological advancement with growing expectations for better customer experience such as fast response for a query within an hour, easy access to online tools, and others also call for digital transformative initiatives to provide better services eventually.
CIOs are also the prime drivers of digital transformation, according to a recent study which surveyed 400 global CEOs. As many as 47 percent of the CEOs who responded to the survey, reported that it is their CIOs who are responsible for driving the digital transformation agenda in their respective businesses.
As part of their new marketing agenda, businesses are likely to continue spending their money for digital transformation efforts so as to replace the advertisements in underperforming media. Thus, the companies will focus to provide individualized experience to their customers through digital transformation.