Digital transformation. It’s on the tip of everyone’s tongue and the top of everyone’s to-do list. You probably already know it refers to using technology to revolutionize your business. But isn’t that what you’ve been doing all along—digitizing data, digitalizing the conversation, acquiring and adopting new technologies aimed at enhancing efficiency, increasing productivity, improving the customer experience, and boosting sales?
Well, of course.
The thing is, digital transformation is more than that. Digital transformation is the process of integrating the above to create a synergy. And that synergy will be essential for companies in every industry—not just to remain competitive, but to remain standing.
Harsh? Perhaps. Surprising? Apparently not. In fact, 98% of enterprises surveyed by independent research company Vanson Bourne are already engaged in digital transformation initiatives. Most believe failing to complete those initiatives will negatively impact revenues. Considering the overall, inter-industry buy-in to the notion of digital transformation being critical to the bottom line, many executives have already concluded that effective digital transformation is essential to remaining viable over the next three years. In fact, our own research here at Exela indicates a majority of executives take this view.
So how will your enterprise leverage digital transformation?