Insights

We are already 3months in for the year 2019. For a lot of enterprises their digital agenda is taking shape in forms of annual plans and business reviews. Digital transformation is a complex process that changes how enterprises work and go to market, which creates long-term opportunity for partners equipped to take customers on this on-going digital journey. Which is why we thought this is a perfect opportunity to share a few tips and recommendations from Sonata Software that may help you think clearly for your digital strategy ahead.

The last couple of decades was the exponential growth of the internet era which got extremely pervasive. Now the whole world is well-connected thanks to digital. Historically businesses used to believe that they were the sole creators of value and it was a very linear value proposition that the business used to generate. It was a ‘pipe’ based value proposition because the value was created through raw materials, products, and services. With the internet and everything getting connected, businesses started to realize that they are no longer are the sole creator of value.

In this digital age, enterprises must change the way they interact with their customers, partners, and suppliers. Enterprises also must reimagine their existing business model to reap the benefit of digital. Customer expectation is changing rapidly due to the availability of a vast amount of information and dynamic demands. There is a value gap that is being created with what the customers want and what the enterprises are able to fulfill. Enterprises must work hard to close this value gap or its stands at risk for the entire business.

Gartner predicts that by 2020, 75% of enterprises will transform to digital — or at least be preparing for the change. Unfortunately, only 30% of those attempts will be successful. As more and more businesses get involved with digitization, it is now essential to have a well-planned digital transformation strategy in place than ever before. Today’s enterprises must maintain reliability to ensure customer experience, uptime, security and compliance, while also seeking agility to enter new markets and remain competitive.

Digital has become a core engine for every business. It has become the driving force behind organization strategies and change management. The CEOs are embracing the digital agenda as a base of their transformational strategy. CEOs have come to a realization that the digital strategy and leading enterprise digital transformation change can no longer be an isolated project anymore. The cost and the stakes involved are simply very high.