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Before looking closely at what digital transformation stands for, do you know which two processes preceded the digital transformation?

First, there was digitization - transfer from analog to digital. With the introduction of computers, information was converted from analog paper records to digital computer files.

Second, digitalization followed. This process implied using digitized information for establishing ways of working efficiently.

However, both of these processes weren’t about changing the way you do business, rather just making it more simple. Digital transformation made it possible to change the way businesses are done and also it enabled the creation of new types of businesses.

So, what exactly is digital transformation (also known as DT or DX)?

Some of the most important elements of digital transformation are the following:

  1. Customer experience
  2. Operational agility
  3. Culture and leadership
  4. Workforce enablement
  5. Digital technology integration

No matter the size of your business, digital transformation is imperative for all businesses - from the small ones to the big corporations. Each organization is transforming at its pace but most businesses are under constant pressure to speed up the process of digital transformation in order to catch up with the competitors.

The biggest challenge here is that all of the digital transformation initiatives must be in line with corporate goals and strategies at the management level. Siloed projects, poor corporate communications, and proof-of-concept models lead to a partial or complete failure.

In the series Digital Transformation: "Understanding Tomorrow's Digital Products and Services", we will look at the potential of digitalization together with Bob Melchior Gornik (Senior Management Consultant at HDP Management Consulting GmbH) and explain, using examples and case studies, how successful digital products and services can be planned, implemented and operated.

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