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Digital Transformation 101

In an age dominated by tech, companies are racing against digital Darwinism. One of the biggest reasons companies fall short is that technology is both the problem and the solution. 

Both technology and consumer behavior are constantly evolving. To stay ahead, businesses must anticipate the market’s future needs and industry trends. This requires businesses to shed their skin every few years by undergoing digital transformation. If done successfully, businesses will become the #1 disruptor of their respective markets. 

Just how the Industrial Revolution transformed the economic system, the Digital Revolution carries a similar impact pertaining to how we communicate, work, and shop. 

No matter the case, technology has remained the constant catalyst for revolutionizing society. These changes happen regardless of whether businesses adapt or not. Digital transformation is no longer a question of “if,” but rather a question of “when.”  

What is Digital Transformation? 

Digital transformation entails far more than a simple update in technology. From shifts in business models, processes, and company culture, implementing new digital technologies affect every part of a business.

In response to these shifts, businesses must become more customer-centric, adaptive, and efficient to keep an edge on the competition. 

DOWNLOAD YOUR FREE COPY: 5 REASONS WHY YOU SHOULD GO VISUAL

4 Reasons Companies Don’t Undergo Digital Transformation

  • Upfront cost
    Upgrading legacy processes can be expensive. Fortunately, the ROI pay-off will surpass any initial costs and will continue to generate more revenue each year.
  • Company culture
    Complacency towards innovation impedes progress. Businesses that become too comfortable with the status quo will quickly fall to digital Darwinism. 
  • Leadership isn’t onboard
    For a digital transformation to be successful, a company’s executive board must be in complete agreement. Without support from leadership, a digital transformation will not be feasible. 
  • Requires rewiring the system
    Undergoing a digital transformation is not a one-size-fits-all solution. Each company has unique needs that require a customized approach. Implementing the right strategy is crucial.

4 Reasons Why Companies Should 

  • Buying is visual
    Seeing is buying. When it comes to purchasing complex, customized products, customers need to ensure they are getting exactly what they paid for. 
  • Optimize global reach through digital
    Customers want to shop from anywhere at any time. Whether it’s from their phone or computer, businesses must make their products and services available through the web.
  • Deliver the best customer experience
    What makes a company like Amazon so successful? They obsess over their customers. In order to give customers the best user experience, companies must continuously optimize and innovate.
  • Attract and retain new talent
    The American millennial generation is set to make up 75% of the workforce by 2025. With this generation comes a different list of must-haves that go beyond the paycheck. If companies want to attract and retain the best and the brightest, they must foster a culture of innovation.  

Ready for a transformation, but don’t know where to begin? Check out  this article  by our CEO, Marc Murphy for a deeper dive into all things digital. 

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