Innovation and Digital Transformation

July 9, 2021

Digital transformation is the adoption of digital technologies to transform the procedures in an organization or business, by replacing non-digital or manual processes with digital processes and replacing older digital technology with newer digital technology.Digital innovation is the application of digital technology to existing business problems in creative ways such that the problems are solved and processes can be carried on efficiently.

Transformation and innovation go hand-in-hand in the digital world - these two combined can significantly improve the efficiency of business processes and the overall conversions.Over the past decade, the combination of digital transformation and innovation has been the reason for giving birth to a new generation of business models and turning many small businesses into successful and popular brands, while diminishing and disrupting others that haven’t (or couldn’t) employ this combination.

Digital technology can be used to catalyse innovation and reimagine a company’s functioning structure and future. The urgency for this comes from the fact that your competitors, both known and emerging, are most probably doing the same, and this can be a huge threat to your competence. People are looking to ignite, manage and sustain innovation in their team, department or business unit and also be able to navigate disruptions easily.In today’s evolving marketplace, many businesses – big and small recognize that they need to transform, innovate, and adopt new technology in order to thrive and stay competitive.

 

A business’s complete transformationusually involves a large-scale initiative of change which is enterprise-wide and touches all parts of the business. To keep up with the pace of change to match speed with competitors and the evolving market, it is necessary to keep the innovation up at the same time as progressing with your organization’s digital transformation. This enables you to continue to be on track and in line with the competitive market and customer expectations.

Now, many innovation tools and digital technology are readily accessible to everyone. But in order to get the best of what digital technology and innovation has to provide, they need to be implemented in the right way – and this requires knowledge and expertise. Technology itself provides no distinct advantage. Rather, it is the human element behind that technology and innovation management–ideas, strategies, and ways of working–that business success depends on.

Hence, it is crucial to find the right digital partner who can help your company through the digital transformation and application of digital innovation -a team with people who use ideas, experimentation, and rapid prototyping to help create solutions to enable efficient functioning and success of your business.