Digital transformation, the process of incorporating digital technology into all aspects of a business, is not happening as quickly as expected. Many businesses are still in the early stages of this transition, with only 20% of companies having fully embraced digital technology. The slow pace of change is partly due to the fact that digital transformation is not simply about adopting new technology, but involves a complete overhaul of business operations, including changes to culture, customer experience, and business models.
One of the main barriers to digital transformation is resistance from employees, particularly those in senior positions. This resistance can stem from a lack of understanding about the benefits of digital technology, fear of job loss, or simply a reluctance to change. To overcome this resistance, companies need to focus on educating their employees about the benefits of digital transformation and providing them with the necessary training.
Another challenge is the lack of a clear digital strategy. Without a clear plan, companies can end up investing in the wrong technology or failing to fully utilise the technology they have. To avoid this, companies need to develop a clear digital strategy that outlines their goals and how they plan to achieve them.
Despite these challenges, the benefits of digital transformation are clear. Companies that have embraced digital technology are seeing increased efficiency, improved customer experience, and higher profits. Therefore, despite the slow pace of change, it is clear that digital transformation is not just a trend, but a necessary step for businesses to stay competitive in the digital age.
Go to source article: http://research.gigaom.com/2014/02/when-is-that-digital-transformation-finally-going-to-happen/