The usage of term digital transformation is being used a lot. Lots many buzzwords around technologies have been built. Before using them, it is better you know the meaning of those words to use them more appropriately.
In this regard, digital transformation refers to using digital technology to enhance an organization’s performance. It has turned out to be mandatory to implement for organizations’ survival and competitiveness.
Though the definition seems simple, certain intricacies and misconceptions lie behind it. Though we have been familiar with and experiencing digital transformation for a long time, there is much to learn about it.
The fact is to not just go with digitalization but have a fresh perspective of the traditional methods. Here we will learn about the few myths that surround digital transformation. By better understanding them, you can better thrive in the future.
Myth1: IT is solely responsible for Digital transformation
The survey results prove that digital transformation is the job of the IT department. The IT department has a significant role during the beginning stages of digital transformation projects. Even understanding the customers regarding how they will use them is as important as developing them.
Hence developing a strategy that attends to the digital transformation from the initial stages of development to the time of delivery and usage is very important.
Myth2: Customers wish to speak to humans than online
Communicating through phone calls was the only option previously. With the so-called digital transformation, organizations are providing self-service options. However, few people prefer talking to humans for help and resolving their issues.
Of course, users usually prefer online services primarily. What if they do not respond according to their expectations? This could add more problems to the existing ones. At this time, users find the necessary humans to interact with and have their issues sorted.
Myth 3: Digital transformation is not mandatory
Digital transformation is mandatory for businesses to thrive. Most of the sector in the public sector has not yet leveraged its advantage of it, and it is even surprising to know that specific organizations are still considering building a digital transformation strategy for over a decade.
But if any business wishes to thrive in the current era, they have to leverage the benefits of digital transformation. Today business and customer communication is not limited to traditional methods but extends beyond online communication.
Digital transformation is now vital for any organization to know customer requirements more clearly. Accordingly, design, develop and get their feedback for enhanced services.
Myth 4: Digital interference ruins established businesses
Reality: Many startup organizations post-2015 have acquired unicorn status and are attacking the traditional markets. This show is time for the established organizations to act.
Myth 5: Digital transformation is focused on attaining minimal efficiency
Reality: Many businesses are only considering digital transformation as a support instead of optimizing it for enhancing revenue. Organizations executing digital transformation have not only been successful in improving efficiency but also revenue.
Myth 6: Digital transformation is only for those possessing high financial resources
Reality: Businesses with digital technologies turn outdated. Hence, every business, irrespective of its size, should start analyzing its importance and make it a part of its workflow.
Myth 7: Cannot calculate the ROI for digital transformation
Reality: It appears that investment in a digital transformation is unlikely to generate better ROI. However, it is not so. Digital transformation will bring in new revenue streams, restructure costs, etc. You will find that the cost-saving rise eliminates inefficiencies and automates procedures with digitized techniques.
Digital transformation is transforming the way businesses operate. Hence businesses have to change into digital enterprises to thrive. Businesses must expose the industry myths, learn about various technologies and gain a competitive edge. Though it appears to be difficult, it is time to start.
We at Onpassive Digital are work towards making Data Analytics and Big Data available to all the businesses and help them in achieving their maximum reach and realizing goals.