FVP Holdings
Digital Transformation in 2019 and Beyond
01 Jul 2019

digital transformation

As companies move full-steam ahead into improving internal and external business results the term, ‘Digital transformation’ has garnered preeminent status into the tech vocabulary. Digital transformation has become a significant strategy for companies for a long time and is believed to be a major factor in the competition of who stays in the business.

The term digital transformation is defined as the integration of digital technology into all aspects of the business, essentially changing how it works and delivers value to its customers. Digital transformation is also a social change that needs companies to continually challenge the ‘norm’, experiment, and get used to failure if and when it may occur.

Research experts accept that in regards to a timeframe, 85% of them believe they have just 2 years to get to grasp on digital transformation. So, while the previous few years have seen some development in digital transformation, there is currently more urgency, as time has become the new benchmark for which companies remain in the race and which ones drop out.

Key Changes for All Businesses.

Digital transformation has become significant for every single business, from the one-man band to the conglomerates. This is generally accepted with the increasing number of articles, and published studies in regards to how companies can stay relevant as the tasks and jobs become increasingly digital. Lots of business leaders are still unsure of what digital transformation brings to the table, while others believe that it is all about the company moving to the cloud. Several are still in two minds about the changes and what they have to include in their strategies and plans for the future. Several believe that they ought to be employing an external agency to implement change is a good thing while others are still questioning the cost implications involved in the process.

As every business is different, so are their digital transformation needs. However, in general terms, it is generally defined as what change and value-adding it can bring to customers in actual tangible terms. Digital transformation has a long legacy and goes on much further than just 2019. It is a change that needs companies to experiment regularly, to become familiar to failure, and continually challenge the ‘norm’. It also means that businesses have to go beyond the age-old processes and look out for new challenges and changes.

Here is what the Digital Transformation can bring to the table:

• Customer experience

• Culture and leadership

• Digital technology integration

• Operational Agility

• Workforce enablement

Digital transformation is mainly used in a business context, helping bring change into the organisational structure, impacting governments, public sector agencies, and enterprises which are involved in handling societal challenges such as tracking pollution, the sustenance levels, and so on by using one or more of these current and developing technologies.

digital transformation

2019 and Beyond.

As digital transformation strategies develop, and its position as an innovation driver becomes a new benchmark, leading IT experts are asking what’s next? If the lesson of the last 10 years was the power of digital flexibility and how it can make a more efficient and productive workforce.

Today’s companies are as diverse as the customers they serve. From the cloud-native startup to the legacy enterprise, as businesses have welcomed the value of digital flexibility, a vast number have now started their digital transformation journeys. One vital aspect of the way to digital transformation is that IT departments are required to take a greater role in driving overall business objectives.

As technology becomes more advanced, the human component becomes increasingly crucial. The digital transformation saw a huge move in the way IT leaders approached their infrastructure, however, workplace transformation needs a deep understanding of the unique way people approach productivity.

In essence, several businesses have started their journey, and have begun making changes in their strategies, on a big digital project of late their turning to AI initiatives and modern technologies. In the majority of cases, it is a slow start, and significantly more needs to be achieved.

Technologies are evolving and changing, testing the fundamental strategic and operational processes that have defined companies until now. Looking to the future, businesses will no longer have separate digital and AI strategies but will have an integrated corporate strategy using changing technologies.