Digital transformation is a common and overused buzzword. But what does it mean and how does it apply to your organization? This video explains everything you need to know as a starting point.
Simply put, digital transformation is deploying any sort of technology to automate your business. This could include any one or more of the following technologies:
-ERP software (enterprise resource planning)
-CRM software (customer relationship management)
-HCM software (human capital management)
-SCM (Supply Chain Management) software
-Business Intelligence
-Machine learning
-Artificial intelligence
-Predictive analytics
-Robotics
-Industry 4.0
-internet Of things (iOt)
Digital transformation entails major changes to your business processes and people – which is even more significant than the technology itself. In other words, it is a broader business transformation. This video explains what you need to know to define what digital transformation means for your organization.
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How can business solutions helps firms achieve their digital transformations
Thanks for answering my question ❤
love that i found your channel and resources. thanks!
Digital transformation and AI are reshaping industries. Platforms like SmythOS simplify AI orchestration, making tech integration seamless.
Great insight- like the little secret that transformation is more relevant then digital part of it.
Very impressive thank you Eric 👏
I agree with you 100% the transformation is about improving and or automating business process starting with a good use case. Great Video!
Nice video. Also found this video on digital transformation helpful: https://www.youtube.com/watch?v=DlXqLMIm1Yo
I'm in love with this content. I recently read a similar book, and I was completely in love with it. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
This is an absolute delight. I read a book with similar content, and it was an absolute delight. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
Thank you very much for this video
Thank you very much, great explanation!
Great video, thank you!
I really appreciate this video. We're covering this in my IDLT program right now and I have a much better understanding now!
Thank you Eric, best breakdown I've heard.
Really appreciate this video!
Is digital transformation and modernisation the same ?
Thanks for the Clarity !!! I have been trying to get the definition for a very long time.
Details of value management in Digital Transformation in 15 mins – https://youtu.be/JySseOJ-T40
جميل
According to Forbes magazine, 74 to 78% companies who adapt this strategy fail. It's a total SCAM………
I'm sure this will be a bigger hit than Bitcoin.
Very basic and very poor. You have missed the point and the understanding of what Digital Transformation is all about. Digital transformation is the business journey into the new digital economy. Businesses need to focus on 4 main areas and they usually start with ‘Process Transformation’, which brings about opportunities to enhance one’s ‘Business Model’ that enable new powerful differentiators. They also need to be aware of ‘Domain transformation’ ultimately enabling they to compete in new segments never thought possible. But all of this can only be possible if they realise the ‘organisational/cultural’ transformation requirements.
In my experience the main problems I see is that businesses just focus on Process Transformation as it improves efficiency ultimately improving profit, and then they stop. The word Digital is VERY important as people need to understand the different types of data. A business that creates an invoice as a pdf hasn’t really thought about the end to end process as that pdf document usually needs a human on the other side to interpret it, or they use document AI. You can scan a document which makes it hard for processes down the line to interpret it or you can digitize a document whereby other applications can access the data.
Digital Transformation is all about end to end seamless processes, today most business processes are human to human, digital Transformation will enables you to evolve these processes to human to machine and in some cases machine to machine. To achieve this businesses will need to really understand their data and how to leverage it through every part of their business to maximise shareholder value.
I wish you are my mentor. I Will be delighted and excited to work, learn and grow.
My question: will a startup also need to use digital transformation tools ? Or when/at what level do they have to look for one, based on their business type?
Great video, clearly laid out the salient points in plain English and omitted all of the bullshit. Thank you Eric
Very relevant. Thank you for demystifying the terminology. Business transformation is what we at KISSFLOW are aiming to propel.
Spot on Eric. As a consultant I can't agree more. Technology is only an enabler and it is constantly changing for the better. Adopting them in the right way to improve business process for real tangible benefit to stakeholders is the real transformation.
pretty good video, thank you
After 5+ years doing "digital transformation", I've recently published my thesis that, like you say here, "digital transformation" isn't about "digital", but I go further to say, that it isn't really about "transformation" (as a point-in-time one-off initiative) either:
https://www.youtube.com/watch?v=Wr2Zq8IeLeo
Great Video Eric.
Hello Eric – Can we connect?
So, it sounds like what he's saying is that we have been doing Digital Transformation all along??? This is really not a useful presentation, nor does it describe what the recent trend to Digital transformation is actually trying to achieve. The key thing in Digital Transformation is to focus on the Customer Journey and to use the data that you collect (or should collect) to provide insight to improve the Customer Experience. It is not about process, or efficiency, that is what we have been doing for the last 40 years and not being particularly amazing at! It's about creating new business models to help you fulfil the customer's needs, outside your normal core business. This is achieved looking at the Customer Journey from the customer perspective, not the business perspective. The buzzword here is to look from the Outside In rather than from the Inside Out. I hope people will not start to do 'Digital Transformations' based on Eric's consultancy, as it will keep you firmly in the 1990s and struggling to achieve any value. He's right about one thing, it's not just about technology, people have to change their mindsets, but that is hard when the consultant hasn't changed his.
How does a business properly start while adopting the digital era processes?
Spot on Eric. I like how brutally honest you are about having the right people and processes right BEFORE a digital transformation.
My experience has been that some leaders believe the software is the problem and introducing a new ERP system will automatically solve the issues. If a client is unwilling to go through the business transformation it tends to be a red flag for whether the potential partner will be successful through an implementation.
Thank you so much for sharing your experience with us.
Better together,
Tim
[I work with an ERP solution for a specific industry (audiovisual and security integration) and we provide business transformation services prior to digital transformation]
Eye opening