# Threesteps to a successful digital transformation Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2016-08-22 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: Digital Business Transformation: Challenges and Opportunities Meta Description: Opinion piece by Sébastien Vugier on how digital technologies are reshaping the business landscape, challenging traditional models and elevating customer URL: https://financedigest.com/threesteps-to-a-successful-digital-transformationhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/earth-globemyweifrd-1736844575476-compressed.jpg) **Opinion piece by Sébastien Vugier,** SVP Global Sales Solution Center, [Axway](https://www.axway.com/en) Digital technologies are part of our daily lives. Smartphones, social networks, the Cloud, Big Data and the Internet of Things have dramatically changed each and every sector of the business world. Like a tidal wave sweeping over our economy, little by little since the 2000s half the Fortune 500 companies have been wiped off the list. For many companies founded prior to the [digital era, digital transformation](https://www.financedigest.com/digital-transformation-for-the-world-of-finance-the-rise-in-collaboration-tools-and-saas-applications.html "Digital transformation for the world of finance: The rise in collaboration tools and SaaS applications ") represents a real challenge, one that can only be met by reconsidering their very fundamentals. **Physical and virtual worlds coalesce** It’s a fact. [Digital is stepping](https://www.financedigest.com/the-binocular-microscope-market-to-step-up-the-innovative-digitization-ladder.html "The Binocular Microscope Market to step up the innovative digitization ladder") up the pace of trade and strengthening what is now international competition, particularly with the arrival of the “born-digital” newcomers. Traditional economic models are fast becoming obsolete, and the way in which companies interact with their customers, partners and employees has undergone a radical [transformation in the wake of real-time and interactivity demands](https://www.financedigest.com/signal-transformer-market-one-the-most-booming-industry-in-upcoming-years-due-to-global-demand-in-industry-by-2027.html "Signal Transformer Market| One the Most Booming Industry in Upcoming Years Due to Global Demand in Industry by 2027"). From data centres and mobile devices to physical environments, new approaches have evolved to provide a better customer experience. The [emergence of these trends](https://www.financedigest.com/blood-bag-tube-sealer-market-to-witness-excellent-revenue-growth-overview-emerging-trends-and-forecast-by-2028.html "Blood Bag Tube Sealer Market to Witness Excellent Revenue Growth, Overview, Emerging Trends and Forecast by 2028") has seriously challenged traditional business relations, systems and processes; indeed it has rendered them completely obsolete. It is fascinating to see just how much the line between the physical and [digital world](https://www.financedigest.com/fraud-in-a-mobile-digital-world.html "FRAUD IN A MOBILE DIGITAL WORLD") is blurring. The lack of distinction between these two worlds is [forcing companies](https://www.financedigest.com/multigrain-bread-mix-market-size-share-top-leading-companies-consumption-drivers-trends-forces-analysis-revenue-challenges-and-global-forecast-2029.html "Multigrain Bread Mix Market: Size, Share, Top Leading Companies, Consumption, Drivers, Trends, Forces Analysis, Revenue, Challenges And Global Forecast 2029") to redefine their business model. And this is the true challenge of the [digital business:](https://www.financedigest.com/the-small-businesss-guide-to-getting-started-in-digital-advertising.html "The Small Business’s Guide to Getting Started in Digital Advertising") greater agility within innovation efforts, and a stronger desire to improve the customer experience. This reconsideration is fundamental, for it is the only way for companies to meet, or indeed, exceed customer expectations. Technology has introduced and [provided customers with access to all the new solutions and services](https://www.financedigest.com/can-companies-minimise-their-dependency-on-cloud-service-providers.html "Can companies minimise their dependency on cloud service providers?"). Everything is instantly within their reach, they can now buy anything they want, from anywhere and anyone. Their [product and service reviews are published and shared](https://www.financedigest.com/xylooligosaccharide-market-size-share-and-trends-analysis-report-by-product-types-and-applications-forecast-to-2029.html "Xylooligosaccharide Market Size, Share And Trends Analysis Report By Product Types, And Applications Forecast To 2029") straight away. “The age of the customer” is truly upon us, and the power is no longer with the supplier, but with the consumer. **The** [Value Chain](https://www.financedigest.com/gonorrhea-therapeutics-market-value-share-supply-demand-share-and-value-chain-2021-2031.html "Gonorrhea Therapeutics Market Value Share, Supply Demand, share and Value Chain 2021-2031") The success of a business model now lies in companies’ ability to connect easily to the people, processes and objects connected within the [value chain](https://www.financedigest.com/rare-neurodegenerative-disease-treatment-market-value-share-supply-demand-share-and-value-chain-2021-2031.html "Rare Neurodegenerative Disease Treatment Market Value Share, Supply Demand, share and Value Chain 2021-2031"). This transition is often laborious, since organisations must begin by establishing digital connectivity channels and then build digital [services](https://www.financedigest.com/maintaining-security-and-compliance-amid-digital-transformation-in-financial-services.html "Maintaining Security and Compliance amid Digital Transformation in Financial Services") before they can even focus on the digital experience. Obviously, the task’s complexity depends on the maturity of the company embarking on its [digital transformation](https://www.financedigest.com/the-future-of-fintech-forging-ahead-with-digital-transformation.html "The future of fintech: Forging ahead with digital transformation"), as well as the state of its IT infrastructures and environments. However, three fundamental aspects must be considered to support the [digital transformation:](https://www.financedigest.com/apis-are-powering-the-acceleration-in-digital-transformation.html "APIs are powering the acceleration in digital transformation") - **Connectivity and** [digital channels: The volume of data](https://www.financedigest.com/is-the-road-to-data-transformation-slowing-digital-transformation.html "Is the road to data transformation slowing digital transformation?") now created and stored by companies has reached unprecedented levels. To fully exploit the potential of this trend and transform this data into useful information, [companies must](https://www.financedigest.com/three-must-do-think-about-before-opening-a-company-in-hong-kong.html "Three Must-Do Think about Before Opening a Company in Hong Kong") introduce digital business processes and connect the data flows of each silo, using integration technologies like APIs, secure data transfer (MTF) or EDI. - **Digital services:** Business service exposure and use via digital channels is broadening professional relations and offering customers [greater added value](https://www.financedigest.com/how-to-unlock-greater-value-from-artificial-intelligence.html "How to unlock greater value from artificial intelligence"). For example, by incorporating dozens of different applications (Uber, Yelp, etc.), Google Maps allows the co-creation of value between Google and its commercial partners. These services are far from being [reserved exclusively](https://www.financedigest.com/exclusive-u-s-asks-japan-china-others-to-consider-tapping-oil-reserves-sources.html "Exclusive-U.S. asks Japan, China, others to consider tapping oil reserves -sources") for companies specialising in new technologies. These days all sectors can use API, from retail and finance to the [hotel industry](https://www.financedigest.com/what-can-small-hotels-do-to-succeed-in-the-hospitality-industry.html "What Can Small Hotels Do to Succeed in the Hospitality Industry?"). This [allows organisations to exploit their services in an innovative](https://www.financedigest.com/esg-innovation-allowing-everyone-to-meet-the-standard.html "ESG innovation: Allowing everyone to meet the standard") way, creating new revenue potential. - [**Digital experience:** The set-up of a digital platform is essential to both the creation of new economic models and the success of a digital transformation](https://www.financedigest.com/why-digital-transformation-in-finance-is-crucial-for-post-lockdown-success.html "Why digital transformation in finance is crucial for post lockdown success"). Banking services, for instance, have evolved dramatically, and customers can now consult their information on their mobiles and online and not just at their branch. Omnipresence is a strong customer experience! Amazon is another excellent success story. Over the years, the company has developed new business models with the set-up of [digital platforms](https://www.financedigest.com/digital-id-revolutionises-end-to-end-mortgage-and-protection-platform.html "Digital ID Revolutionises End-to End Mortgage and Protection Platform"). Previously limited to book sales, [Amazon is now a Cloud](https://www.financedigest.com/uk-to-examine-cloud-services-dominated-by-amazon-microsoft-and-google.html "UK to examine cloud services dominated by Amazon, Microsoft and Google") giant, holding its own against the biggest IT companies. Shrewd [managers and directors who adopt these changes](https://www.financedigest.com/uk-at-forefront-of-fx-management-change.html "UK at Forefront of FX Management Change"), allowing their organisations to capitalise on digital technologies are able to navigate this new environment quickly and successfully. It is a transition undertaken by a growing number of companies that can see the business potential heralded by the [digital revolution](https://www.financedigest.com/the-fintech-digital-revolution-will-continue-in-2022.html "The Fintech Digital Revolution Will Continue in 2022"). Embrace [digital transformation](https://www.financedigest.com/the-d-mannose-market-to-walk-through-digital-transformation-stampede.html "The D-Mannose Market To Walk Through Digital Transformation Stampede") with confidence, not fear, and focus on what makes it possible. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---