In recent years, the terms “digital transformation” and “going digital” have been cropping up with increasing frequency. There is no doubt that the digital age has arrived, complete with all the opportunities (and chaos) that normally accompany every advance in technology. Although every company (with few exceptions) is already a digital company to some degree, making the transformation to a true digital enterprise is a concept for which no universal definition has been accepted by everyone. To some, it represents a change in customer expectations, while to others it might herald better supply chains, more efficient operations, new products to market or opportunity to expand into new territories. One thing, however, has become obvious: Without a strategic approach to the transformation, the move can fail to deliver the comprehensive results desired. Having a digital strategy means including five important core components.
Eventually, all businesses are going to have to come to terms with the idea of a digital transformation. The move, although necessary, will not be without challenges. However, taking a strategic approach to digital transformation can make the transition go more smoothly and provide better results.