In recent years, many companies have demonstrated adaptability and integrated cutting-edge technologies into their services. Today, only 6% of companies consider themselves fully digitalized. But how can digital transformation benefit management?
What Is Digital Transformation?
Digital transformation in companies or banks involves integrating new digital tools into various services. For instance, this may include offering fully online banking services, like digital-only banks, and implementing intranet software, CRMs, or other digital tools. The objective is to remain competitive by adapting to market trends.
Although the digital revolution is not new, significant progress has been made since 1971. Digital transformation is a relatively recent phenomenon that has accelerated at key moments since the 1990s, particularly with the emergence of the Internet and later the smartphone in the 2000s.
Impacts on Management and Organization
This transformation has always required numerous organizational changes and the reorganization of processes. Adopting new technologies into daily work habits is a long-term commitment. Today, artificial intelligence has become an indispensable tool for certain roles, such as developers, marketers, and analysts, among others.
Managers also have a critical role to play in the adoption of digital tools. Indeed, managers are increasingly acting as coaches rather than traditional leaders. The main goal is to facilitate digital collaboration within intergenerational teams. Consequently, the demand for skills has also evolved. By 2025, technical, digital, and data-related skills will become even more valued.
How to Measure the Effectiveness of Digital Transformation?
There are several performance indicators to consider when measuring results. The primary indicators include improving the customer experience (brand awareness, surveys, reviews, etc.), increasing productivity, and reducing costs.
Additionally, evaluating the return on investment (ROI) helps to assess the financial benefits of the transformation.
It is essential for companies to integrate new technologies into their operations, even if not entirely. Digital transformation allows businesses to remain competitive in the market and improve the customer experience. Failing to integrate new technologies into processes poses a risk of losing competitiveness.
However, digital transformation also has its limitations: high costs, data security issues, technological challenges, and more.
