Disrupt business models and processes for a competitive edge
Enterprises need to digitalize their business capabilities and processes to step up their game for the future. Digitalization efforts necessitate the adoption of technologies for analytics, automation and integration, as well as the development of data enabling transparency and sharing applications. Selectively identifying legacy systems while introducing new digital layers will enable desired levels of scalability and flexibility. Digitalization of business processes and capabilities is not the new name for IT application modernization. It is the method of process dis-intermediation which requires a well-defined design approach. Digitalization is vital for organizations to change business models and gain a competitive advantage by doing things faster, better and more cost-effectively than the competition.
Steps for Successful Digitalization
The most commonly observed flaw is when the plethora of point technology solutions make enterprises start from ‘step 3’ without a proper understanding of steps 1 and step 2.