Companies: 10 Mistakes that Most People Make

True Meaning of Digital Transformation Digital transformation is more often than not mistaken to mean altering ones mode of processing things. What it means is simply to transform your physical or material things into something that is computerized or digitized, in digital format so that the process is more efficient. It transforms paper forms into electronic forms, cash becomes computer information or bits, paper documents becomes paperless forms, logs and invoicing of sales transactions become sales force automation and ERP. There is more to digital transformation that what we have seen in its essence. If we stop at the digitization part of the definition, it actually missing a lot of things because this actually means a digitally transformed business that involves the entire ecosystem of the business. What this includes are the supply chain, partners, customers, crowds, and employees. Stopping at digitization alone misses the transformation part which designs everything or transforms everything from the physical and material into a virtual form. And there are a multiple good reasons for that. Digital transformation then is about more than digital products and services, it is also about the processes that create, enable, manage, and deliver them in a virtual arrangement.
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A lack of data processing in real time is a good reason why businesses today will die if they fall on the wrong side of this transformation. With the traditional ways of doing things, this has always been the shortfall. And especially today where we live in a fast pace age, analyzing data and historical data mining has never been more critical when it comes to identifying opportunities and determining risk.
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If you want to have a managing edge over all your business resources, then you need to use real time insights to enable customers, workers, suppliers, and machines to seize opportunities immediately and take collaborative action at the moment of greatest impact. To capture the individuality demanded by customers and to improve the economics of your business processes, you need to increase automation, usability, collaboration, and real time processes to improve efficiency. By connecting all your internal business processes, labor, ecosystem partners, and customers, to deliver a new level of transparency is simply creating an added value which goes beyond the boundaries of the enterprise. And when you are on top of these boundaries, you can leverage the power of these new networks and reevaluate how to widen the value that you deliver to each including your customers. To be able to deliver innovative outcomes strengthened by better tools and updates equipment to comply with recognized needs, there is a need to develop new solutions, processes, services, and business models that are buoyant to your suppliers and customers. What these patterns recur, then these constitutes the dynamics of this type of transformation. This is a never ending cycle that is developing constantly and if you are behind digital transformation or if you fall on the wrong side of it, you are on your way to extinction.