Digital transformation is the application of digital technologies in all aspects of society. From the business point of view, digital transformation ultimately results in fundamental changes to how businesses operate and how they deliver value to customers. . In recent years companies are not building software or running IT just for cost savings and operations, but rather IT has become the primary driver of business innovation. This IT driven business shifting requires everyone to rethink the role and impact of IT in their day-to-day experience.
Digital Transformation involves a change in leadership, values, thinking, innovation, business models, customers’ satisfaction, suppliers’ involvement, partners’ choice and more. Digital business transformation impacts not only industry structures and strategic positioning but it affects all levels of an organization.
Every task, activity & process of business and even its extended supply chain are under the umbrella of digitization. Business leaders constantly challenge their organizations to ensure this change to unlock productivity gains and significant competitive advantage along with delivering exceptional customer experience.
A digital platform is web based platform for presenting content. It is a technology-enabled business model that facilitates exchanges between multiple groups. Some companies will develop a platform business model that encompasses providers, consumers and employees to create or exchange goods, services and social interaction. Others might integrate with other organizations’ digital platforms. Most ground-breaking products and services at present time such as services provided by Amazon, Google, Face book, Alibaba are based on digital platforms. Tech companies and digital-born organizations are ruling the world standing on the digital platform.
If you understand the power of digital technologies, you will understand that these platform-based business models fundamentally change the shape of total business events around the whole world. Digital platform based business strategy is drawing attention of customers, employees, and investors. Organizations that manage digital networks are advanced and smarter than traditional product and service providers.
Digital platform helps you to generate revenue, reduce costs, foster collaboration and innovation for new products and services & gain speed to put products on the targeted markets. Digital Platform has opened connectivity. It shares data with 3rd party developers to create new services and extend the ecosystem. It can scale massively to address millions of consumers without performance degradation. And so, if you want to keep pace with modern strategic shifting of total business, you must have your own digital platform.