Business Transformation Vs. Digital Transformation: A Thin Line of Difference!
Transformation is today’s buzz word for every industry, meaning its time to up capabilities to meet the changing market demands.
Two terms that make this word more powerful are Business and Digital. Both fall under ‘demand of the day’ and the ‘need of the hour’ for almost every organization, globally.
Business Transformation is a change management strategy that aligns people, process, and technology to the organization’s core business objectives and its future vision.
Such a transformation naturally drives innovation and paves the way for new business strategies.
Whereas, Digital Transformation (DX) is the process of implementing digital initiatives, including technology for bringing in a new wave of change in the way:
- Business and processes are held
- End-user interacts with the business/product for customer satisfaction
- Culture is developed/built organizational-wide, cross-functionally
The two transformations are different by definition but go hand-in-hand for a successful business process.
How Digital Transformation and Business Transformation Help?
DX and Business Transformation are the two most discussed terms as an effective means to drive business success.
They primarily help in:
- Overcoming emerging market challenges
- Leverage and capitalize on technology potential
- Enhanced business functioning
- Better service delivery
In the current day scenario of improved regulatory, increased globalization, and dynamically changing technology landscape, organizations need both the DX and business transformation.
While the business transformation typically focuses on business and go-to-market models, digital transformation brings initiatives and technologies to support those efforts.
Why do Transformations fail?
The first and foremost reason behind business failure in implementing transformations is ‘misconception’. The most common misunderstanding is ‘over-focus’ on technology as the first step.
Undermining the cultural significance, most organizations prefer technology first to understand the existing gaps. But the fact is that technology implementation success only happens on strong fundamentals.
So, the success of these transformations is solely dependent on the following factors:
- Organizational Readiness
- Employee openness and preparedness to change
- Management’s perspective of the company
- Change in marketing and sales strategies
- Change in supply chain management
Business and Digital Transformation Advantages
Many leading global surveys say that the successful digital and business transformations promise:
- Better customer experience
- Rise in customer revenues
- Intelligent automation
- Effective decision-making
- Ability to attract new talent
- Improvement in employee morale
- Enhanced web and mobile engagement
- Healthy competition
- Reduced time to market
- Improved thought leadership
Looking for a perfect partner who can help you with the complete transformation? Veritis can help you! We have successfully helped many companies, including Fortune 500 firms, transform digitally and at the enterprise level. Today, they are able to deliver excellence and are able to adapt to changing trends quickly.
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