Digital transformation is the reinvention of an organization through the use of digital technology to improve the way it performs and serves its constituents. Digital refers to the use of technology that generates, stores and processes data.
The growth of technology in everyday life cannot be ignored, with everything available at your fingertips. With growing customer demands, businesses must adapt new technologies, independent of the industry or size of the business.
Is your company ready for this new and evolving digital world? Monitoring data across the internet and evaluating security and financial data in real-time can transform the way a company does business.
Recent studies back this up time and time again. The IDC report “FutureScape: Worldwide CIO Agenda 2016 Predictions” emphasized that, "One-third of the top 20 firms in industry segments will be disrupted by new competitors within five years," and that it's a matter of "transform or perish."
The same IDC report goes on to predict that, by 2018, “70 percent of siloed digital transformation initiatives will ultimately fail because of insufficient collaboration, integration, sourcing or project management."
CIOs should not only care about digital transformation for the sake of their company's survival, they should focus on securing company-wide support and collaboration to get digital transformation right – before they get disrupted by a competitor or a startup.
Create a plan for Digital Transformation at your company.
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