Why Companies Must Innovate Bottom-to-Top & Drive Stability Top-to-Bottom — Lionesses of Africa

by Nkemdilim Uwaje Begho 

In a recent study by Forbes, 52% of Fortune 500 companies went bankrupt, were acquired, ceased to exist, or dropped off the list due to digital disruption since the millennium. In the 21st century an organization’s survival is almost wholly dependent on its ability to strategically use digital initiatives to achieve business goals. Digital is no longer an option, but a necessity to succeed in the world of business.

It is easy to acknowledge the huge impact of Digital, but knowing how to drive it is a key challenge along with finding the right people to achieve success. Many businesses are starting to perceive the tremendous potential of Digital to engage customers externally as well as to streamline internal processes.

Digital Transformation is more than just ‘doing’ Digital; it’s about remodelling your business’ strategies, organizational activities, processes, competencies, and models; leveraging the changes and opportunities of a mix of digital technologies to be customer-centric, agile and innovative at their core.

Digitization is at the frontline of inevitable change! It creates a huge impact on your business by disrupting the existing business model and making your organization ready for the continuously changing internal factors, external competitors, industry trends and new technologies.

Most forward thinking organizations are now forging a path with innovative, creative as well as original ideas as well as adopting digital transformation to evolve and capture opportunities in the digital era. Are you one of them?

To be ready for the next industrial revolution, enterprises must transform digitally to overcome the complexities and unlock new potentials. It is now expedient that enterprises intensify efforts in rebuilding their technology to make their vision come alive and succeed in the connected future.

Here are 7 reasons why Digital Transformation is essential to your organization:

1. CX: The user experience of the customer is at the heart of the universe

The world’s obsession with the latest technology, social media and the ever-rising number of mobile apps revolves around a desire for an easier life.

Customer Experience (CX) is at the heart of Digital. As a result, the primary focus of Digital Transformation is to use cutting-edge technology to improve the customer experience — to design and digitize customer journeys, increase speed and agility in insights, achieve customer adoption of digital customer journeys and develop agility in delivering journey transformations.