Why Digital Transformation (DX)?

Digital transformations have positively impacted all industry sectors and have changed the way people do business in every sphere of life worldwide. It requires far more than simply investing in niche technologies and has become inevitable for companies to stay afloat in the current pandemic.

Do you know "Digital Transformation" has become the most popular buzzword today and the need of the hour for all industry sectors across the globe? Digital transformations have brought paradigm shifts and have positively impacted societies and governments globally.

The broader side of digital transformation has provided massive employment and a plethora of opportunities worldwide for all sections of people. With the rapid growth of technology, we're witnessing new inventions being researched and ideas being implemented to serve people and make their lives easier.

Implementing digital initiatives promises multiple job opportunities in the immense interest of organizations, societies, and governments at large, and we must look out for the one that suits us based on our profession and passion.?

A recent IBM study reveals that around 60% of organizations have accelerated their digital transformations due to the pandemic. There is no denying that digital transformations have brought significant changes in our lives. Running a digital business can bring changes in the business systems, technologies, customer relationships, business operations, so forth, with digital culture being the immense barrier for successful digital effectiveness in one's transformational journeys.

It reminds me of Gartner's study conducted in 2016, which mentioned that "Cultural issues are at the root of many failed business transformations. Yet, most organizations do not assign explicit responsibility for culture."

Digital culture is a mindset to understand how the internet and technology transform the world. Organizations must embrace an influential digital culture that matters most to support their digital initiatives and positively impact their corporate culture.

Establishing a solid digital culture for successful digital transformation involves breaking down your hierarchies and empowering your employees to make quicker decisions, fostering innovation by motivating your employees to try out new things experimentally, and reskilling and upskilling your existing workforce through digital training along with instilling new energy from the market.?Embracing transparency and effective collaboration with shared responsibilities in achieving goals play significant roles in an organization's digital culture.

Individuals and organizations in Digital Inc, who fail to introspect continuously and do not change their culture and mindsets to adapt to the dynamically changing business environments, will fail in their transformation journeys.

Business leaders must move away from industry stereotypes, introspect and challenge their mental models to remain competitive and excel in their businesses by developing and implementing a successful digital transformation roadmap.

Digital transformations are happening across the globe at a rapid pace, and we're not left with any choice but to adapt quickly to excel in our respective fields and contribute to our nation's economic growth. Implementing or enhancing existing digital payment systems for carrying out digital transactions in an attempt to reduce cash usage, especially in government-related money transactions to avoid corruption, reaching out to the marginalized sections of society in developing nations for government-related digital schemes, and various such digital initiatives will contribute significantly to the nations' GDP.?

As digital transformation is not just thinking about it and getting prepared for it, when organizations embark on their transformational journeys, leaders must ask some uncomfortable questions, as listed below, to stay competitive and survive in crisis moments in the future.?

1. How are emerging technologies implemented as part of digitization capable of addressing unforeseen challenges in the future??
2. Customers, consumers, and employees are supposed to be at the center of all the disruptive technologies in the world. How would you create a long-lasting and compelling customer, consumer, and employee experience from the overall operational excellence standpoint???
3. How do business units (BUs) or lines of businesses (LOBs) in your organization ensure cross-functional efficiencies and interoperability??
4. How can human elements be integrated into bots to create value from an excellent customer service standpoint?

Many enterprises are still perplexed by what digital transformation entails, and most executives are clueless about creating a digital transformation roadmap for their organizations. Most of them are unaware of strategies and methodologies to be followed in their digital initiatives. In fact, they have no idea whether they should even embark on their digital transformation journey, how it could benefit, and whether it is worth the effort.?

As the world becomes increasingly digitized, organizations and individuals must learn how digital transformations occur in the current digital ecosystem to stay afloat in crisis.