The digital transformation is clearly an ongoing journey, not a destination, but many companies have not a clear picture of this path. This change requires continuous digital transformation initiatives and is vital to re-visits goals and objectives on the way.
Success at transformation also depends on the CIO’s ability to drive their enterprise’s capability to integrate, create a multiproduct, multichannel experience or a single view with customer or services that couple products with data. This means become obsessed with innovation. But digital transformation is not about technology but about change and is not a possibility but a matter about when and how, ready of not the digital transformation is coming and fast. The existing players must evaluate and understand the opportunities and start creating new business options for the future.
Digitalization is just the vehicle for companies to create a strong relationship with end customers and with other companies and suppliers. In order to do so, enterprises must understand their Digital Business Model to move forward. The digital economy requires some level of reinvention and this require a complete vision that enables enterprises to offer the best customer experience. This require some capabilities like the following:
- gather and use great information about customer’s life;
- make customer central;
- create a culture of evidence based on decision making;
- provide an integrated, multicultural and multichannel customer experience;
- be distinctive and the first-place customers;
- identify and develop great partnerships and acquisitions:
- develop efficiency, security and compliance competences.
The digital platforms differentiate from the traditional product and service providers in many ways. First in creating business value because most of these bring together a network of individuals who both create and share in that value. They start with different values and then invest in different assets and choose different leaders. The traditional companies must start using their existing tools. The preexisting digital platform like Facebook and Twitter are key to engage their networks and create a collaborative communication. At the next level these have to diversity including digital platforms because generally do not have the time, the skills to do themselves. Generally, the best option is to build your digital platform yourself. This requires a great deal of organizational adaptation, new technologies and skills are needed beyond a deep understand of your actual and future customer base.