Digital transformation is essential not only for short-term growth and market share but also for ensuring its long-term sustainability and relevance. Digital platforms and ecosystems can increase efficiency through new and unexpected collaborations and create new value for companies and customers.
Digital maturity across various industries is classified as personalities such as startups, conservatives, fashionistas, and digital masters with digital skills and leadership driving their business transformation. The challenge of accelerating digital transformation can be beneficial for the growth of the business.
The digital age has led to new ways of thinking about processes and procedures. Smart devices with digital capabilities provide direct benefits to the industry in terms of productivity, efficiency, innovation, and decision-making.
The current millennial priorities for CEOs are innovation, market speed, public trust, and human resources, leading to initiatives around digital and data-driven businesses. CIO's priority is managing innovation and operations. On the one hand, transformation, efficiency, and safety must be improved; on the other hand, costs and times for new services are reduced, IT models and infrastructure are maintained and simplified, and business processes are improved.
The business results of a digital transformation program determine a critical factor in its success or value proposition. It can be about changing the customer experience or improving the efficiency of corporate users. People, processes, and technology are critical factors in the success of any transformation program.