Business buzz words like “digital transformation” get thrown around a lot in conversation, but what does it really mean? Bill Schmarzo in an article for CIO Magazine defined digital transformation as the “application of digital capabilities to processes, products, and assets to improve efficiency, enhance customer value, manage risk, and uncover new monetization opportunities.” As business owners, we all want to improve efficiency while enhancing customer value, managing risk and monetizing new opportunities.
A recent study commissioned by Cyara found that both IT and business leaders also see the value and importance of digital transformation. The study reported 98% of respondents seeing digital transformation as a competitive advantage, 94% believing it will improve the customer experience and 91% thinking it will have a positive impact on revenue growth.
Digital transformation is a positive driver for your business, but implementing these initiatives are not without their challenges. The same study found that “only 7% of both business and IT respondents think IT teams have the resources needed to keep up with the digital transformation initiatives and meet implementation deadlines.” Another challenge the survey found was that IT teams often were not consulted when it came to critical decisions on digital transformation. Only 43% of business leaders said that they consulted with their IT teams on digital transformation initiatives.
Implementing a digital transformation strategy in your business is valuable, but it takes planning and communication across all departments in your organization. Trust the experts at Quick Intelligence to help you simplify the digital transformation process. Contact us to learn more.