Digital Transformation

As technology improves, businesses fall behind on their way to digitalisation.
We at Digitalised Finance believe there is no better time than now to digitalise your business and keep up with the changing world. After all, Standing still is the fastest way to move backwards.

Digital transformation is important because it allows businesses to stay competitive in an increasingly digital world, and can help them to improve efficiency, reduce costs, and increase revenue.

Top expected benefits of digital transformation

0%

Improved employee engagement and culture

0%

Development of existing products or services

0%

Improved responsiveness to customers’ needs

0%

Development of new products/services

Baker McKenzie, 2021

Top expected benefits of digital transformation

0%

Improved employee engagement and culture

0%

Development of existing products or services

0%

Improved responsiveness to customers’ needs

0%

Development of new products/services

Baker McKenzie, 2021

What is Digital transformation?

Digital transformation is the process of using digital technologies to fundamentally change how an organisation operates and delivers value to its customers. It involves the integration of digital technology into all areas of a business, fundamentally changing how the business operates and delivers value to customers.

It often involves implementing new digital technologies to automate and improve the performance of business processes, as well as adopting new business models and cultural changes within the organisation.

Digital transformation can help organisations become agile, innovative and can enable them to better meet the needs and expectations of their customers. Some examples of digital transformation initiatives include the adoption of cloud computing, the implementation of artificial intelligence and machine learning, the use of big data analytics, and the development of new digital products and services.

Key areas of focus for global digital leaders

Cybersecurity 47%
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Cloud Computing 45%
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Artificial Intelligence 43%
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Data analytics 33%
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Automation 26%

Baker McKenzie, 2021

Key areas of focus for global digital leaders

Cybersecurity
47%
Cloud Computing
45%
Artificial Intelligence
43%
Data analytics
33%
Automation
26%

Baker McKenzie, 2021

Where are you on the Digital Transformation ladder?

The phrase “digital transformation” has been around for ten years, and many experts agree that 2012 was the year it became a common term in technology. Since then, millions of organisations around the world have started their journeys toward digital transformation. But as time passes, technology advances and institutions find it difficult to keep up.

Modern businesses find it difficult to sustain digital change, which is why some struggle for years before succeeding. Big changes have resulted from the need to hasten the transition to digital business efforts. However, business executives will find it crucial to maintain the momentum as the digital world develops.

One approach to achieve that is to create precise metrics that can track the development of the digital transformation. Companies will be able to more easily pivot to sustain the changes and track the effects of the adjustments at granular levels. As they gauge the current state of change, they will spot any gaps and potential areas for future improvement.

Percentage of global digital leaders who say the following will be the main barriers to scaling up and accelerating digital transformation

Budget
58%
Equipment/Software
43%
Expertise/Skills
43%
Lack of clarity
31%
Integrating systems
30%
Right partner
28%
Other priorities
20%
Not ready to scale up
16%

Baker McKenzie, 2021

Let us help you…

If you are looking to start a digital transformation journey or want to assess your progress, our team will create a strategy based on the challenges you confront. This will allow you to stay within your spending limit and ensure that your business is fully trained and ready for the digital age. Get in touch today.