Survival of the Fittest in the Age of Digital Transformation

It's now not about the big beating the small, but the fast beating the slow.

Digital Transformation in one word, Survival. DT for a business is akin to the beat of the heart, for a human. It needs to keep pumping so that the heart can keep producing cells, oxygenating, keeping itself and all things connected, alive in the environment in which it plans to survive.?

Digital transformation demand changes to your strategy, technology, processes, and organizational structure — and culture is the glue that brings it all together. It demand changes to your strategy, technology, processes, and organizational structure — and culture is the glue that brings it all together.

A Tech Pro Research survey claimed that 70% of companies either have a digital transformation strategy in place or are working on one.

Does it come as a surprise??No.

Does it come as a challenge and problem for many??Yes.

No Organization in today's era can afford to miss it. We are at the doorstep of the 4th industrial revolution. During the previous three industrial revolutions, the world that entered the beginning of each revolution ended up looking different on the other side, particularly with respect to technology, socio-economics and culture. Each revolution resulted in massive disruptions.

In addition, the past three revolutions often resulted in an uneven distribution of winners and, sad to say, created a large number of losers. We can view the 4th industrial revolution through the lens of the first three, though the characteristics of the 4th industrial revolution are vastly different from those of the first three in terms of Speed, Scope and Impact. For example, telephone, radio, television, Facebook and Angry Birds took 75 years, 38 years, 13 years, 3.5 years and 35 days, respectively, to reach 50 million users.

?Therefore, it is really important for companies to ride on the transformation wave and stay relevant in the new digital age. Organizations need to evolve to address the changing business landscapes. Ideally IT spending is driven by the need to meet business requirements. Business leaders want IT to be focused on business results, innovation, and continuous improvement.

In fact, digital transformation is business transformation. Some prefer to use the term digital business transformation, which is more in line with the business aspect of the transformation.

D.B.T is important because it allows organizations to:

• Stay ahead of the Competition.
• Adapt to Rapidly changing pace of digital technology.
• Ensures Long Term Returns.

A major catalyst for digital business transformation?is the customer, who has higher expectations than ever. For one thing, they expect everything to be digital. Ultimately D.B.T is about making things simple, enjoyable, and engaging for the customer at each interaction point.