“Digital transformation — the use of technology to radically improve performance or reach of enterprises.”
Businesses are aware that they are being carried by the tides of change whether they like it or not. It took fortune 500 companies around 20 years to get a billion $$ in revenue but today’s unicorns do it in 4 years on an average. Naturally, every traditional business is talking digital transformation and understands it is not a question of ‘if’ but ‘when’. A recent survey by Gartner, states that 42% of CEOs had a strong strategy in place for digital transformation despite the validation by 56% of those who said they have already seen increased profits due to this transformation. Surprisingly the biggest hurdle to get this change onboard was not about execution or change management (yet) but the even more fundamental step of figuring out what the transformation should look like and how to prioritize it.