Digital transformation is the process of leveraging technology to change an organization’s business model. It’s a broad and inclusive initiative that encompasses technology, people and processes to deliver new products, services and experiences for customers. It also includes updating an enterprise’s IT systems to accommodate the rapid pace of change brought on by technological advances.
The most common reason businesses engage in digital transformation is to meet customer expectations. Today’s consumers expect to conduct business and live their lives whenever they want, on any device. They plan their mornings knowing how long it will take to drive to work and their evenings counting on a food delivery driver showing up at their door. They ignore customer service call center hours and instead depend on chatbots to answer their questions. They stop saving receipts, knowing they can instantly download their bank and credit card data at tax time.
Businesses that successfully transform to meet these customer demands stay ahead of competition and deliver greater value to their customers. But implementing digital innovation requires strong leadership that puts digital and customer experience at the core of their business strategy. It also means that the culture of the company must shift to support these changes. Mercer’s Swift points out that three groups of employees tend to slow down or halt transformation momentum: old-timers, by-the-book players and lone wolves. She recommends building a team of internal and external stakeholders to lead the transformation and ensuring that the group has the resources it needs to deliver results.
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