The term digital transformation (DT or DX for short) has been circling in the business world for a long time. Nevertheless, its meaning is a bit foggy. Generally, it refers to a global tendency to implement innovative technologies in all aspects of the business so it could meet the digital age.
There are two main paths businesses can choose. The first one lies in total shifting from the physical value to the digital one. E.g. transition from film rental stores to online streaming services. The second path doesn't change the physical value but utilizes digital technologies for communications with the audience, automating internal operations, and cooperating with partners.
Digital transformation allows reimagining of the business and can lead to significant growth. However, it has some challenges. There is no ultimate plan that would fit any organization. The 4 main areas of digital transformation should be considered.
Business Process Transformation
Applying digital technologies to internal processes could lower costs, improve quality and reduce cycle times. To achieve this businesses should use a complex approach, rethink ways of meeting customer needs and establishing cooperation within the company.
Business Model Transformation
Business model transformation means a fundamental change in the way of delivering value for customers with the help of technology.
Domain Transformation
Domain transformation has great potential although often goes out of sight. It could redefine products and services making a way into completely new areas. E.g. Amazon launched its streaming platform Amazon Prime and cloud service Amazon Web Services.
Cultural/Organizational Transformation
Digital transformation would be incomplete without a shift in the company's mindset and culture to focusing on customer service and innovation. A clear vision of digital transformation, its benefits, and risks must be established throughout the organization.
Modern technologies can significantly boost business efficiency and competitiveness. Yet the successful digital transformation of the company relies not only on applying new technology but also on embracing modernization on all levels.
If you are determined to transform your business, the help of experienced professionals is necessary. VinDevs helps companies transform their businesses digitally, increase efficiency, and as a result profits. For instance, the use of self-service kiosks in food chains can make the ordering and paying processes more efficient and significantly improve the customer experience in general. Our team is qualified to develop the required software for the terminals and provide its smooth integration with all of the restaurant’s systems. And that is just one example of how you can transform the business with VinDevs. Get in touch with us today to discuss your ideas.
