Why Digital Transformation matters in 2018?
The technology landscape is going through an important change. We see it every day - There is an explosion of different devices, information, file formats, and applications. To build customer intimacy, companies need to harness the power of mass interconnectivity in order to work closely with both customers and partners throughout the business network. Digital transformation, today, is no longer an option but a definite requirement for organizations who are ambitious to succeed in the global field.
Specifically, a CIO looks for people who drive innovation and build small teams; invest in people skills. He also plays an active role to communicate within the company and externally about what IT is achieving and learnings. The challenge is not only to be on top of what is happening in the marketplace but also understand the expectations from a corporate perspective. Meeting the gap between consumer [devices], employees and corporate is becoming an important part of a CIO’s role.
In any case, while the majority of organizations comprehend the significance of digital transformation for their survival, only 3% have finished the same in their enterprise as reported by the SAP Digital Transformation Executive Study. What the examination additionally says is that industry leaders invest vigorously in innovative technologies, like machine learning, IoT and Big Data.
The companies who are able to adapt and adjust to the changing environment are the ones who will find themselves growing and flourishing in the industry. Similar is the case for digital transformation. Enterprises are accelerating the adoption of technologies in global emerging areas which increases the momentum of doing business like mobility, in-memory computing, and analytics. While enterprise software has been deployed in verticals such as Government, CPG, retail and automobiles, it is the newer verticals that are fueling growth for the segment including government, healthcare, education, agro-based industries, e-commerce and telecom.
Looking at global companies over the last one decade we see that over 70% of the companies are new. Most of these organizations’ success showcase one of the biggest shifts in the way digital technologies are deployed and consumed. Therefore, by not keeping pace with the digital transformation, traditional companies will either die out, amalgamate or be contracted.
Deployment of technology will help create a data platform that will let the companies’ fast-track their business processes, deliver more, and simplify their IT environment. It will allow customers to examine, in real time about their day to day business happenings. This will help the enterprise to make better business decisions, which will give them a chance to stay ahead of competition. Looking forward to 2018, digital transformation seems to be the best tool for enterprises to be future-ready in this unpredictable world of technology.