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Transforming Successfully Digitally

Steve Nash has twenty–five years across various business roles, leadership, strategy, strategic, entrepreneurship as well as philosophy

What is digital transformation?

Digital transformation is the disruptive redefinition of any aspect, part or whole of a business digitally with a financial impact on top line, bottom line or both. Digital Transformation is not the end! it is a means towards an end, that can be leveraged or implemented across the business, to achieve real business goals, such as revenue growth, cost cutting, improving margin performance, enhancing worker productivity or achieving process efficiency.

Digital Transformation along with successful digital marketing represents a potent combination that can help any business transform, reach its customers innovatively, create new revenue streams and have a long–lasting impact on its business financials. For digital marketing to be successful, it is important for marketers to understand the psyche of customers, the latest consumption and media trends, spending patterns to adopt the right strategies.

So, which is digital transformation? Different pundits, and experts have their different takes on digital transformation.

For some, digital transformation is about implementing mobility, analytics or cloud technology. For others, digital transformation is about e –commerce, selling stuff electronically. For some, digital transformation is about net banking, and payments’ applications (apps) for making financial transactions. For some, digital transformation is about connectivity, connecting devices, internet of things, connected TVs, connected cars and smart devices. For others, digital transformation is about ordering food online or booking your cab, flight tickets or doing all other stuff in an online mode through your mobile devices.

In my view, digital transformation is the redefinition of any aspect or the whole of a business digitally, one particular aspect or more than one particular aspect or the entire value chain across the business. It is a way to redefine businesses or to solve a particular business problem. The key is disruption. Whatever digital transformation entails, the impact on process, or production or sales is disruptive or long lasting. It is capable of totally redefining a particular process of business, replace and existing process, a value chain, a go to market strategy, make the products or offerings more effective or enhancing productivity.

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