Digitalization

Digital Change and Digital Transformation

Digital transformation is usually mentioned in the context of Industry 4.0 and refers to ongoing changes in enterprises that are caused or fueled by new digital technologies. However, digital transformation affects not only the industry (keyword IoT) but all companies and private individuals.

This means that enterprises will see their B2B and B2C processes or practices change through digital transformation. This is why people like to talk about a digital revolution, caused by disruptive business processes.

In most cases, however, digital transformation will be evolutionary, involving the complete rearrangement of processes, organizations, and people, and the functions created by the new technologies will be successively exploited to everyone's advantage.

There's No Stopping Digital Transformation!

Digital transformation cannot be stopped and is putting companies under pressure to innovate. They can either be an early adopter, or they can be a follower – with some loss of relevance. The Harvard Business Review even speaks of a do-or-die imperative*.

This is why every company, be it a corporate group, medium-sized company, or microenterprise, will have to deal with the new technologies.

Whether digital transformation is driven from the inside by new technological possibilities and higher storage and processor capacities (e.g. in the cloud), or from the outside by market pressure or a faster acceptance of new technologies by customers, depends strongly on the business model.

Digital transformation offers unprecedented opportunities to give your customers a special experience and to increase their own success. According to a Forbes survey, 73% of global CEOs say that the next 3 years will be more decisive than the last 50.

To strengthen digital transformation also in the German SME sector, XEPTUM has created the Digitalization Compass: a structured approach to determine the right technologies and approaches for your individual digitalization and to make your company a driver of innovation.

*https://hbr.org/sponsored/2018/11/every-organizational-function-needs-to-work-on-digital-transformation