Digital Business Transformation
What is digital business transformation?
Digital business transformation refers to the practice of updating existing business models with the incorporation of modern digital technologies in an effort to streamline processes, boost business growth, and maximise profits. A digital business transformation or modernisation involves updating and redeveloping an organisation’s business applications and core software to work with contemporary computing approaches. It also allows businesses to take advantage of cutting-edge digital technologies such as artificial intelligence (AI), machine learning, robotic process automation, advanced analytics, and more to stay relevant and competitive in today’s ever-evolving and fast-paced digital era.
A major part of this process is the elimination of large on-premises servers and other legacy data storage infrastructure that takes up large amounts of space, costs a lot to maintain, and requires regular upgrades to keep up with the demands of a growing organisation. This is achieved by moving a business’s digital assets, data, software, and processes from these physical servers to the cloud. By doing this, businesses can take advantage of the latest frameworks and cutting-edge infrastructure platforms.
Benefits of digital business transformation
To efficiently optimise key company activities and save capital and operating costs, a well-executed digital business transformation should entail a seamless transition and minimal downtime. Organisations that successfully execute a digital business transformation can expect to see a number of operational benefits, such as the ones mentioned below.
- Access to modern services and features
- Better overall operational efficiency
- Streamlined workflows across all departments and teams
- Happier and more productive staff
- Reduced operational costs
- Reduced IT expenses
- Operational flexibility
- Improved customer experiences
- Speeding up previously time-consuming processes
- The ability to offer customers new services that add value and convenience
- The creation of new revenue streams
- Better market reach
- Data security
- Access to applications and software that are compatible with modern technologies
- Agile processes
- Easier scalability
- Overall organisational growth
- Higher profits