Short introducing what is a digital company transformation?

Digitalization is the word “digital” that has been on everyone’s lips for several years now. The current crisis, with its bombshell effect, has already proved to us that not only the future of business lies in the digital company transformation. With its help is described the transition from the industrial era. It’s an analog technology to the modern era. It’s characterized by digital technology and innovation in digital business.

The digitalization of a business is the driving force behind its promotion. Its main advantages are:

  • Saving time and increasing productivity. It’s the automation of production and other internal processes of the digital company transformation;
  • Optimization and improvement of communications. These are both internal and external;
  • Cross-selling / upselling opportunities. This is reaching a new level of customer service and encouraging them to purchase more products;
  • Competitive opportunity through improved customer experience and overall workflow optimization.

Digitalization is rather important nowadays. Thanks to this, the digital company transformation of industry, retail, the public sector, and other areas is already changing the life of every person and every company with digital product development.

What are the benefits of digital company transformation?

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Customers are one of the main drivers of digitalization. Digitalization technologies are the best solutions for personalized interaction. Most customers prefer it. Here are digital communication channels, artificial intelligence, robotization. We already face all this in our daily life.

Digital company transformation – contemporaries often confuse this concept with automation or even digitization of data. However, these are only parts of the digitalization process – that is, digital company transformation.

With the increase in technological capacities and volumes of information, it became clear that the collected data. And automation systems by themselves do not yet give a positive effect. And then they began to pay attention to building effective processes for using all technological capabilities. It’s in order to develop business and society.

Main advantages:

  • Optimization of processes. All processes are being revised and it is possible to build a flexible, customizable system for further adaptation to various conditions, the elimination of routine allows you to use your human resources more efficiently.
  • Earning opportunities are much better than before.
  • Customer orientation. The client is the main source of income, information, and also inspiration – an incentive to move forward. To create a demanded product, you need to have information about the needs of the buyer at each of the stages of interaction with him.

And we are not talking about a one-time digital company transformation, in the process, it is important to learn to constantly learn, transform and be open to change.

What is digital product development?

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The main difference between a digital product and a product in the classical sense is the simplicity of replication. If copying used to require at least some kind of physical medium – records, video cassettes, compact discs. Now, copying can be done by any Internet user by pressing Ctrl + C and Ctrl + V. This means that it is practically beyond control.

But it turns out that if the cost of a copy of a digital product tends to zero. Then for what, in this case, to pay the consumer, for air or what? Definitely, another component comes into play here, regulating the pricing of a digital product. And this component is inextricably linked with the desire or unwillingness of the consumer himself to give some amount from his wallet for the proposed product.

In general, based on the above, there are certain trends in the development of the copyright situation. First, it is a clear rapprochement between the consumer and the copyright holder. People increasingly want to pay directly to the author, rather than an army of middlemen interested in super-profits. Some services have already appeared, built on the principle of likes. They allow you to deduct a certain amount directly to the copyright holder.

Secondly, there is a definite tendency for prices to decrease as the quality of products increases. For example, recently, WordPress templates have become much cheaper, but the functionality has increased significantly. The same trend is observed in the stock images market. And the authors provide their income with the constant production of more and more new products.

Finally, there is also such a thing as reputation and self-respect. When it becomes simply unnatural to use pirated copies or hacked programs. This phrase for the most part will cause denial, they say, everything is not so with us. But we are talking about a trend. And it is such that more and more people understand that now many people make money on the Internet.

And that it’s okay to pay for a product that you like and benefit from. And thus directly support the manufacturer, for whom this is the main source of livelihood. At the same time, of course, piracy and freebies will also exist. But these two streams do not intersect at all. It’s just that everyone has their own audience.

Global trends and solutions

Now companies are forced to switch to technologies that they did not plan to implement until some time and to revise their strategic priorities. The main problems we faced can be solved through digital company transformation:

The need for business owners to protect their employees. The epidemic could be that tipping point. After which telecommuting becomes common practice and proving to leaders that their employees can work from home as efficiently as in the office with the right technology, the right approach to management and culture.

Networking and business communications. Due to quarantine, all major events were canceled, as were all air travel and travel. Videoconferencing is one of the alternatives to face-to-face meetings. There are also many platforms that offer networking opportunities.

Lifelong learning. These are virtual schools, self-study courses, online learning platforms. it’s distance learning management systems. These are examples of how digitalization of education. They can help educators during forced school closings and beyond.

Disruptions and disruptions in supply chains and production interruptions. Hence the growing demand for process automation and robotization.

Strategy and tactics for maintaining the viability of the company in the face of chaos.

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