What is a digital transformation and how to create value via new technology?
Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how it operates and delivers value to customers via new technology.
It’s about evolutions and changes
Digital transformation covers a huge number of processes, interactions, transactions, technological evolutions, changes, internal and external factors, industries, stakeholders, and so on. A good digital transformation strategy aims to create the capabilities of fully leveraging the opportunities of new technologies and to use their impact faster, better, and in more innovative ways in the future.
These innovative ways should include technologies with clear disruption potential – the ones that displace an established technology and revolutionize the industry or even creates a completely new one. Here we can include IoT, artificial intelligence, machine learning, spatial computing, virtual reality, blockchain, to name a few. Technological innovations and global megatrends are more impactful than ever before, colliding to disrupt both business and society.
Creating value via new technology
However, it’s not only the technology that drives the disruption or transformation. It is also a cultural change that requires organizations to continually challenge the status quo, experiment, and get comfortable with failure. Digital transformation is the profound transformation of business and organizational activities, processes, competencies, and models to fully leverage the changes and opportunities of a mix of digital technologies. The development of new competencies revolves around the capacities to be more agile, people-oriented, innovative, customer-centric, streamlined, efficient, and able to induce opportunities to change the status quo and tap into new data sources – and service-driven revenues.
In practice, end-to-end customer experience optimization and innovation are key drivers and goals of digital transformation, along with the development of new revenue sources and information-powered ecosystems of value, leading to business model transformations and new forms of digital processes. Digital transformation creates new customer experiences and drives more value to employees. The 21st century is bringing in digital and distributed tools that will further transform the way this value is created.
Digital transformation at VirtusLab
Digital transformation is happening in a lot of organizations nowadays. It is not a product or solution to be purchased – it is a way how to adopt new and innovative ways to do business based on technological advances. Moreover, which is good (and bad at the same time), there’s no single, simple way “to do” digital transformation. Because everyone starts from a different place, there’s no digital transformation framework, playbook, or roadmap that’s universally applicable. Some organizations may need to rethink their existing software, development methodologies, business processes, personnel responsibilities — or they might already be in a good position and just need to add or improve a few aspects.
VirtusLab can help any business to become more digital, thanks to our years of experience in digital transformation. On a daily basis, we are working with state-of-the-art technologies – big data, machine learning, cloud, containers – just to name a few. We are continuously challenging our status quo, experimenting (mostly thanks to our R&D actions). We are contributing to open source innovations, proudly creating & supporting many local tech initiatives, running cross-functional teams, trying to be more people-oriented, and customer-centric.
We will boost any project with the best technologies and take full advantage of their possibilities. Each of our collaborations is demanding – we like to leave our comfort zone and set new, bolder goals.
Contact us to see exactly how our digital transformation looks from the inside!