Digital transformation is about experimenting with new technology and rethinking your current approach to common problems to improve or evolve your firm. Digital transformation is better understood as a perpetual adaptation to a continually changing environment. This also means finding ways to enhance the end-user experience regularly. This could be accomplished through enhanced on-demand training, data migration to cloud services, artificial intelligence, and other methods.
Market Growth Rate:
From 2020 to 2023, direct digital transformation investment is predicted to expand at a compound annual growth rate (CAGR) of 18%. It is predicted to reach $7 trillion by 2023, as businesses build on their current strategies and investments to become digital-at-scale future organisations. (Source: IDC)
Global IT investment is expected to reach $4.5 trillion in 2022, up 5.1 percent from 2021.(Source: Gartner Inc)
From 2019 to 2025, the digital transformation industry is predicted to increase at a CAGR of 23%, bringing the total market value to $3.3 trillion. (Markets and Research)
According to a survey of 1,200 mid-to large-scale US companies, the average digital transformation budget in 2018 was $14 million, with global spending on digital transformation expected to reach $1.78 trillion by 2022.
From the above facts, it is evident that digital Transformation is crucial, but the question is how successfully the companies can perform the transformation.
Lack of alignment on digital priorities, challenges integrating with current infrastructure and processes, and a perceived lack of essential skills were among the hurdles mentioned by C-level executives in common. These difficulties have resulted in a slew of digital disconnects, including fragmented user experiences, unconnected islands of process and data, and a rise in silos, all of which add to the chaos and jeopardise the end-to-end alignment essential for success.
So, in this article, we discuss the 4 Dimensions of Digital Transformation for organisations to achieve unthinkable results from our experiences working with firms that are transforming from the outside in.
Your employees will be the ones who are most affected by digital transformation. Some people will be ecstatic to have the chance to use new collaboration technologies that will make their jobs easier. Some people will pine for simpler times. You must accompany them on your journey.
Organisations help employees perform their tasks more efficiently by re-engaging with them and changing the workplace environment. Successful businesses use the power of mobility to enable collaboration from anywhere, on any device, while minimising security concerns and offering simple access to the apps and data they require. They use living, dynamic dashboards to gain insights and make decisions based on business KPIs, and they use the power of social conversation to keep an eye on employee mood.
Companies must mine new client data sources and use them to create more personalised, seamless customer experiences. Data interpretation will empower and engage your company. Predicting what customers want even before they realise it themselves is part of becoming more involved with customers. It also entails providing clients with new and more natural methods to interact with your business. Consumers are more tech-savvy than ever before, and they use chatbots and voice search in their daily lives. They anticipate this degree of innovation and more direct engagement with your business in all aspects of their living.
The digital world will not prefer outdated development techniques, technologies, or mobile apps. The use of digital platforms that allow innovation at the new speed of business is the key step in creating a genuinely digital business. We can construct end-to-end modelling and deployment environments that accelerate the speed of delivery, connect to existing legacy systems, and automatically handle the deployment and scaling of systems to any amount of audience by utilising the increasing industrialisation of IT.
To ensure that organisations can quickly transform product and customer insights into action, internal operations must be enhanced. This will allow you to serve customers more quickly and predict customer patterns. Getting data and apps into the Cloud is the first step. Moving data and applications to the cloud have numerous advantages, including reduced costs, enhanced computational scalability, flexibility, management ease, and availability.
Your Products & Services
Knowing your industry and building products that serve it is what digital transformation for products is all about. For instance, Apple built a watch that tracks the wearer’s health for the healthcare industry to seize the opportunity instead of waiting for the healthcare industry to come up with the requirement. CIOs keep their firms improving and growing while staying ahead of the competition by adopting digital transformation.
We recognise that a company must be digitally-enabled end-to-end to be fully digital, which requires creating new digital front-end experiences and seamlessly linking them to the back-end systems and infrastructure that support them.
Through digital transformation and support services, Entrans Technologies assists organisations in optimising and differentiating how they serve their consumers. We accomplish this by upending the way they perform traditional support tasks like IT, project management, customer service, and operations.