Digital Transformation Facilitates Continuous

Optimization Of Business Processes

- Virender Jeet

About a third of the top 20 firms in industry segments will face disruption from emerging competitors in less than 5 years time. This underscores the fact that enterprises need to transform themselves or risk going into oblivion.

Avert the risk of becoming irrelevant

Sometimes organizations laden with years of legacy systems fail to view the larger aspects of things. An industry as a whole, might overlook the need to evolve as their customers evolve, resulting in severe ramifications. A case to learn from is the UK banking industry. Given the current technological disruption and heightened customer expectations, the Millennials are not getting the same level of service from their financial service providers as they are attuned to expect from other new age service providers. The result of course is decreased customer loyalty.

Enter Digital Transformation

Digital Transformation is leveraging latest digital technology and integrating it with existing systems company wide to address the gap in customer expectations by transforming existing business processes, business models and enhancing core competencies.

Digital Transformation-The strategic choice

A major folly committed by enterprises today is they are more reactive than proactive. Organizations need to evolve with the changing customer and market needs.

Changing customer needs, evolving technology and threat from competition are the primary drivers of digital transformation. Technology plays the central role in the digital transformation journey of enterprises as it takes care of customer needs as well as competitive threats. Evolving technologies like Advanced Analytics, Digital Sensing and Enterprise Mobility are the tactical weapons for organizations.