The wave of digital transformation has turned into a veritable tsunami. Embracing digital transformation has become extremely important for companies to stimulate growth, improve customer journey funnel, and tap into fresh opportunities.
However, there is still a multitude of organizations that have not been able to transform digitally. As a matter of fact, SAP report, 2017 showed that out of almost 84% of organizations that perceive digital transformation as vital, only 3% have been able to complete their digital transformation initiatives.
Reasons for this fear and hesitation can be many, including lack of vision, proper technology or approach, expertise etc. Apart from this, relying on IT alone to propel digital transformation initiatives is one of the biggest mistakes one can ever make. This is because IT has been used to serve the role of a guardian of the current system and not a digital disruptor. In case they operate solely with professional programmers, the possibility of reaching the necessary level of digital transformation is even dimmer.
Technology paradigms on which companies need to pay heed to for achieving digital transformation objectives are:
1. Ecosystem Integration Platform: Products were the technological golden child of the past decade indeed. However, integration platforms have risen as the go-to solution in the present and the next decade for sure. Investing in an effective enterprise ecosystem integration solution helps enterprises adopt an outward-in perspective, necessary for driving their digital transformation initiatives. It empowers companies to carry out their application integration, Bigdata integration, B2B and EDI integration, and cloud integration needs. Additionally, it puts IT in a governance role that allows them to manage exchange while focusing on pertinent tasks, thus accelerating IT productivity and eliminating Shadow IT.
2. Anyone, Anywhere Anytime Onboarding: The cognitive dissonance felt by employees and customers who deal with outdated onboarding systems and customers hurt the enterprise’s intention to transform digitally. Not only it leads to churn but also increases the overhead costs that are difficult to bear.
Modernized onboarding techniques with the help of ecosystem integration platforms inspire employee as well as customer engagement, retention capacity, and loyalty standards for achieving digital transformation initiatives. Moreover, it helps companies fast forward their revenues, time value, and boost IT productivity.
3. Self-Service Approach: Self- service capability allows organizations to configure solutions that call for rapid data access, validation, transformation, delivery, reporting, and human interaction — all with greater security and controls without involving a lot of risks. Gartner says this approach makes the integration between internal teams, customers, and suppliers keeping the quality, speed, and consistency intact.
To add, the self-service technique allows seamless connectivity across the business ecosystems, lowers operational cost, delivers delightful customer experience, and enhances time-to-market for competitive advantage. This, in turn, helps businesses fight the fear of succumbing to digital disruption.
4. Large File Data Streaming: A major roadblock to achieving digital transformation initiatives is the inability of companies to process and comprehend large sized data due to lack of technology. Banking on inefficient techniques to interpret such enormous streams of data can only worsen the situation.
Large file data streaming helps organizations deal with Bigdata and its associated 4Vs without the need for any specialized custom code or hardware appliances. This helps in saving time, accelerating service delivery, and fast forwarding revenues.
Paying adequate attention to all these capabilities can ensure accomplishing your digital transformation initiatives without any hiccups. Though capabilities evolve over time, having a strong grip on the aforementioned must-haves will help you embrace the change and stay ahead of the curve.
Food for Thought: Refrain from fearing change. New ideas, innovations, and capabilities are the key drivers of growth and expansion.