Invent A Digital Enterprise Successfully

Most traditional companies have become digitally disrupted, and business leaders have had to change their approach to addressing existing market barriers to serve new markets and meet the needs of a broader customer base.
More than 80% of business executives now prioritize business digitization in today’s world. Many feel that failure to digitize their company can destroy their competitive edge and affect their business profits. That’s why they’re working to change and digitalize their business.

Consumers want quick solutions to their problems. Digital transformation enables businesses to improve the customer experience and conveniently get customers what they want.

Four ways to Transform a traditional business into a digital enterprise successfully

1] Process Transformation:

The critical focus of corporate activities is on the business process. Technologies offer corporations valuable new ways to rediscover methods across corporations to reduce costs, cycle time, or increase quality (e.g., Data, analytics, APIs, machine learning, etc.). Processes on the shop floor have been changing where companies like Airbus have adopted a high-end technology to improve the quality of human inspection of the aircraft. We also see process changes in the customer experience, where companies like Domino’s Pizza have entirely redesigned the food ordering process; Dominos’ AnyWare allows customers to order from any device.

2] Business Model Transformation:

Some companies are adopting digital technology to transform traditional business models. While process transformation focuses on limited business areas, the goal of business model transformation is to distribute value across the industry.

3] Domain Transformation:

New technologies redefine products and services, blurring industry boundaries and creating entirely new sets of non-traditional competitors. Many executives do not appreciate that this new technology is a real opportunity for their companies to open new businesses beyond the existing market altogether. Thus, it is beneficial to spend on these processes.

A prominent example of how domain transformation works might be the online retailer Amazon. With Amazon Web Services (AWS) launch, Amazon has now expanded into a new market domain as the largest cloud computing/ infrastructure service.

4] Cultural/Organizational Transformation:

A complete, long-term digital transformation requires redefining the organizational mindset, processes and talents, and capabilities for the digital world. The best-in-class corporations recognize that digital requires agile workflow, bias towards testing and learning, decentralized decision-making, and greater reliance on the business ecosystem. And they take proactive steps to bring about change in their organizations. Experian, a customer credit agency and one of the most successful digital transformations, transformed its organization by embedding agile development and collaboration into its workflows and fundamentally changing the team member focus from company-wide equipment to data.

Similarly, Pitney Bowes, a 100-year-old postage equipment company, successfully transitioned to become a “technology company” by promoting a “culture of innovation” and changing company values to focus on the customer, according to its head of innovation. -Concentration.



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