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True Meaning of Digital Transformation People make the mistake of confusing digital transformation to mean altering ones mode of processing things. What it means is simply to transform your physical or material things into something that is computerized or digitized, in digital format so that the process is more efficient. Paper forms became electronic forms, cash became computer information or bits, paper documents became paperless forms, logs and invoicing of a sales transaction became sales-force automation and ERP. There is more to digital transformation that what we have seen in its essence. The digitization part of the definition is just a part of the whole thing which actually means a digitally transformed business that involves the entire ecosystem of the business. This includes supply chain, partners, customers, crowd, and employee. If you merely stop at the digitization part, you will miss the transformation part which is designing everything from the physical and material order into a virtual form. And there are a multiple good reasons for that. Digital transformation then is about more than digital products and services, it is also about the processes that create, enable, manage, and deliver them in a virtual arrangement.
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One good reason why businesses today will die if it falls on the wrong side of this transformation is the lack of data processing in real-time. With the traditional ways of doing things, this has always been the shortfall. In this fast paced age it is important to analyze data and historical data mining when it comes to identifying opportunities and determining risk.
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If you are able to use real time insights to enable your customers, workers, supplies, and machines to seize opportunities immediately and take collaborative action at the moment of greatest impact, then you have a managing edge over all your business resources. If you increase automation , usability, collaboration, and real-time processes to improve efficiency, it would mean not only capturing the individuality demanded by customers but also improving the economics of your business processes. By connecting all your internal business processes, labor, ecosystem partners, and customers, to deliver a new level of transparency is simply creating an added value which goes beyond the boundaries of the enterprise. You can leverage the power of these new networks and reevaluate how to widen the value that you deliver to each including your customers if you are on top of these boundaries. To be able to deliver innovative outcomes strengthened by better tools and updates equipment to comply with recognized needs, there is a need to develop new solutions, processes, services, and business models that are buoyant to your suppliers and customers. What these patterns recur, then these constitutes the dynamics of this type of transformation. It is a never ending cycle that is constantly developing, and to be behind digital transformation or to fall on the wrong side of it, is plainly on its way to extinction.