What is Digital business transformation and innovation?

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Digital transformation is the profound and accelerating transformation of business activities, processes, competencies and models to fully leverage the changes and opportunities of digital technologies and their impact across society in a strategic and prioritized way, with present and future shifts in mind.

The development of new competencies revolves around the capacities to be more agile, people-oriented, innovative, customer-centric, aligned and efficient. The goal is an ability to move faster from an increased awareness capability regarding changes to decisions and innovation, keeping in mind those changes.

Present and future shifts and changes can be induced by several causes, often at the same time, on the levels of customer behavior and expectations, new economic realities, ecosystem/industry disruption and (the accelerating adoption and innovation regarding) emerging or existing digital technologies. In practice, end-to-end customer experience optimization, operational flexibility and innovation, are key drivers of digital transformation, along with the development of new revenue sources and ecosystems.

Digital transformation is a journey with multiple connected intermediary goals, in the end striving towards continuous optimization across processes, divisions and the business ecosystem of a hyper-connected age where building the right bridges in function of that journey is key to succeed. Digital transformation aims to create the capabilities of fully leveraging the possibilities and opportunities of new technologies and their impact faster, better and in more innovative way in the future.

Author :  SaranRaj.S

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