101 Guide to Digital Transformation

By: Sharjeel Sohaib

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Dec 23, 2022

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Key Points:

  • An organization’s digital transformation involves integrating digital technology across all aspects of its operations, resulting in fundamental changes to how the business operates and provides value to its customers.Β 
  • Digital transformation involves the use of technology to automate and improve business processes, as well as to enable new business models and revenue streams. 
  • Digital transformation has rapidly modified the ways how businesses create and provide value. 

Overview: Digital Transformation

Digital transformation involves using technology to enhance the customer experience through self-service portals and personalized recommendations. It is driven by the rapid evolution of digital technologies, such as artificial intelligence, the Internet of Things, and cloud computing, which have the potential to disrupt traditional business models and create new growth opportunities. 

To successfully implement a digital transformation strategy, businesses must take a holistic approach that considers the impact on all aspects of the organization, including its culture, processes, and systems. This often requires significant changes to how the business operates, investment in new technologies, and the development of new skills within the organization.

Digital Transformation in 2023

Technology advancements and the digital revolution are driving factors in the industry, not just consequences. Analysts predict that by 2023, spending on digital transformation will amount to $2.3 trillion. And this is only the start. 

Businesses are employing technology to update their business strategies, develop new markets, and meet pressing social demands. In reality, we may anticipate that sectors as varied as industry, agriculture, health, energy, and transportation, will be a part of this revolution, given the exponential expansion of digital technology.

With each little step forward, we provide businesses with the tools they need to become digitally transformed in the future and work toward a better world for everybody. There has never been a better time for us to influence societal change.

Successful Digital Transformation Stories of Leading Businesses

  1. Chipotle: Digital Fast Food Transformation

An ideal scenario for digital transformation may take time to include the restaurant industry. However, CEO Brian Niccol quickly implemented a digital makeover program when he took over the dormant Chipotle in 2018. It paid off; in only 17 months, Chipotle’s stock price increased by 152%.

To allow customers to bypass the wait and get their meals faster, Chipotle began using pickup shelves for online orders. To reach a larger audience of clients, the business has collaborated with a delivery service while connecting its drive-through service to its online app. It’s a simple yet excellent illustration of how digital technology can enhance user experience and increase turnover.

  1. Trelleborg: Using robots to create more jobs

Trelleborg, a company that makes quality seals for the industry, wanted to maintain employment when it used robots to raise the caliber of its output. Yes, the number of human operators needed to run the machines decreased, but there were more. Consequently, the company’s enhanced agility expanded sales within two years to the point that they had to recruit 50 personnel to keep up with the new business.

  1. Levis: Focusing on Data to Stay Committed

For legacy firms, digital change may be challenging. Think about Levi Strauss & Co. Given more than 168 years of strongly ingrained customs and traditions, the problems at this renowned retailer and apparel manufacturer are distinct. 

However, the epidemic drove the company to adapt, and in the process, it learned several crucial lessons: 

  • Test, discover, fail quickly, and keep going. Repeat. 
  • Paying attention to eclipsing the opposition rather than catching up to them.Β 
  • Everyone should be motivated by data. 
  • Pushback is expected and is a chance for candid discussions.
  1. Coca-Cola: A Vendor Selection Lesson

Despite being an early user of automated document scanning and processing, Coca-Cola Bottlers’ Sales & Services (CCBSS) discovered that the technology in place needed to be more stable, which impeded the company’s digitalization initiatives.

The business recently chose a digital guru to assist in refocusing its document processing activities. Since CCBSS uses Ripcord’s robots and ML software, documents can be processed flawlessly. With almost 0% mistake rates, the new system eliminates staples, correctly interprets scans using ML, and automatically transmits finalized papers to consumers.

Wrap Up!

The integration of digital technology into every part of the company is known as digital transformation. It entails using technology to create new business models and income sources, as well as to automate and enhance business operations. By 2023, analysts estimate that $2.3 trillion will be spent on digital transformation.

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