Why Digital Transformation Is Good Business

By Dennis McCafferty
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    Why Digital Transformation Is Good Business

    Why Digital Transformation Is Good Business

    Investments in digital transformation can increase revenue, improve customer relationships, boost efficiencies, reduce costs and transform business models.

The vast majority of companies are investing in digital transformation projects, or they're planning to do so, according to a recent survey from Fujitsu. The accompanying "Global Digital Transformation Survey Report" reveals that a significant share of involved organizations are already benefiting from these efforts. Specifically, they're increasing revenue, improving customer relationships, boosting efficiencies, reducing costs, and transforming business models and processes. To maximize the potential of a digital transformation, however, businesses must overcome barriers that include talent gaps and a lack of leadership and organizational agility. "Digital technologies such as IoT and AI are being embedded into core value-generation processes in business and society, transforming people's work and daily lives and generating new innovation," according to the report. "This is digital transformation. Business leaders around the world are becoming aware of the huge potential of digital transformation and taking action. … [But] the introduction of new technology does not always lead to digital transformation. New talents, people who have different skills and new approaches, are required. … Furthermore, organizations need to develop [a] new culture supporting transformation initiatives." More than 1,600 company decision-makers and managers took part in the research.

This article was originally published on 2017-05-16
Dennis McCafferty is a freelance writer for Baseline Magazine.
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