Not WHAT, but WHY digital transformation? (part 1)

Many players in the industry are stuck on what digital transformation is. However, the question should be

“Why are so many organizations looking to be more digital and achieve digital transformation?”

recent PWC study reported that 86 percent of CEOs consider digital their number one priority. The report also had a number of staggering results, including:

  • 81 percent of CEOs see mobile technologies for customer engagement as most strategically important for their organization.
  • 86 percent say a clear vision of how digital technologies can create a competitive advantage is key to the success of their investments.
  • 83 percent say the same for having a well thought-out plan for digital investments that includes concrete measures of success.
  • 86 percent of CEOs think it’s important that they themselves champion the use of digital technologies.

The driving force of digital transformation is that people as customers have become accustomed to the “experience” of using technologies that provide great user interfaces and offer lots of agility – such as Uber and Google.

Because of this, customers are asking for more from the services or product they use. They want them to be easier to use, more agile, more powerful, etc. They also want access instantly and everywhere they go. This demanding need is what is putting a lot of pressure on organizations in today’s world.

Entire industries are also being impacted. If one company is jumping ahead in digital, all the others have to close that gap as soon as possible so they seek digital solutions.

Digital has become a standard. It’s not a luxury that businesses can afford to hold off on adopting. If your organization isn’t already digital or moving to digital this year, you’ll fail. Your customers will abandon you and move to your competitor that has already embraced digital. (to be continued)

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