‘Digital Transformation’ is not just a buzzword. It has transformed businesses and organizations for the past several years, and changed the perspectives of both business owners as well as customers. If you think digital transformation is just about the change in technology and adoption of digital methods, that is not the case. It is mainly about redefining your organization and having sturdy plans to implement change in the way you do business.

Take a look at some use cases of successful digital transformations that have brought a change in the past decade:

Amazon allows users to order groceries on their mobile app and delivers it to their doorstep, breaking the norms of having to visit grocery stores and getting things home yourself.

You no longer need to wait looking for a taxi, when Uber sends you a taxi to where you are, at any time of the day.

Your bank sends you personalized investment recommendations and saving suggestions based on your expenses and financial performance.

Your car sends you a notification when it is running low on oil, or requires replacement or repair of a specific part.

These businesses have brought a fundamental shift in the customers’ everyday lives. Your business too, needs to transform to cope with this new age. Here are a few reasons why your business needs to transform:

Customer expectations are rising

There is an increase in competitive threat

Customers are more empowered than ever

Technology evolution is making way for new business capabilities

Legacy systems no longer work

However, successful digital transformation requires well-planned strategies, complex integrations, and implementation of innovative business models. Many business owners across sectors think digital transformation is not for them due to a few common myths. If you are one of them, this blog will dispel the myths and give you a clear vision about digital transformation.

Myth 1: Digital transformation means new technologies

There is this common belief among business people that to implement digital transformation, you need to replace existing technologies with new ones. While it is more about deploying AI, ML, Big Data and more innovative technologies, successful digital transformation can also be achieved by simply finding new uses of your existing technology stack. It is not necessary to completely invest in emerging technologies for transformation. You can do this by joining your existing systems together, and creating value based on your business requirements.

Myth 2: Digital transformation is only for software and IT companies

Businesses in the manufacturing, real estate, tourism, and other similar industries think digital transformation is not for them. The fact is, it is not just for large organizations and startups operating in the technology domain. Businesses in these sectors need to understand that adopting digital transformation can help them align their business goals towards building better customer experiences, and meet their changing demands.

Myth 3: Digital transformation will eliminate many job roles

This is one of the most common myths, or rather fears of organizations, when it comes to applying digital transformation. Business owners believe that bots and automated machines will rule future business processes, which will eliminate manual job roles. Though digital transformation solutions utilize robotic process automation, artificial intelligence, and machine learning, you will need talented resources to execute the same. Effective business transformation will reduce monotonous work, enhance business processes, and improve company results.

Myth 4: Digital transformation will make everything automated

Digital transformation is not about automating each segment of your business, but about giving your customers a personalized and convenient user experience. It is about providing the services your customers look for, like Uber, Amazon and other successful brands do. While automation allows you to deliver personalized experiences effortlessly, digital transformation done right, will give your customer interactions a human touch.

Myth 5: Digital transformation is all about data

Although data is an important asset of any business, different types of data require different systems and technologies to turn them into valuable metrics. It is not the quantity of data that matters, but the way the available data is utilized to gain favourable business outcomes.

Conclusion

To execute digital transformation successfully, business leaders need to focus on their end goals and assets and make optimum use of the available resources. We at Gateway Digital have an extensive experience and expertise in the field of digital transformation and emerging technologies. If you need help with starting your digital transformation journey, get in touch with us at hello@gatewaydigital.dk. For detailed information, visit http://www.gatewaydigital.dk.