July 07, 2022 - BY Cosmos Community

What Is Digital Transformation?

The definition of digital transformation.

Digital transformation is the process of using digital technologies to create new — or modify existing — business processes, culture, and customer experiences to meet changing business and market requirements. This reimagining of business in the digital age is digital transformation.

It transcends traditional roles like sales, marketing, and customer service. Instead, digital transformation begins and ends with how you think about, and engage with, customers.  As we move from paper to spreadsheets to smart applications for managing our business, we have the chance to reimagine how we do business — how we engage our customers — with digital technology on our side.

For small businesses just getting started, there’s no need to set up your business processes and transform them later. You can future-proof your organization from the word go. Building a 21st-century business on stickies and handwritten ledgers just isn’t sustainable. Thinking, planning and building digitally sets you up to be agile, flexible, and ready to grow.

As they embark on digital transformation, many companies are taking a step back to ask whether they are really doing the right things. 

Why does digital transformation matter?

A business may take on digital transformation for several reasons. But by far, the most likely reason is that they have to: It's a survival issue. In the wake of the pandemic, an organization's ability to adapt quickly to supply chain disruptions, time-to-market pressures, and rapidly changing customer expectations has become critical.

  • Consider these eight key digital transformation trends that business and IT leaders should be aware of in 2022:

    • Focus on resiliency and sustainability
    • An emphasis on using the cloud to enable innovation 
    • AI-fueled automation of business processes
    • Continued acceptance of remote work
    • Increased attention to managing data for its entire lifecycle
    • Security as a business imperative, not an afterthought
    • Prioritizing AI ethics and governance
    • Increased use of maturing machine learning technologies

    After all, it's never too late to start and develop your business but the key is to START NOW!