by Cynthia Eze
The rising interest in digitalization is explained by its daily presence and its significant impact on margin, productivity, revenue, and innovation. Furthermore, it is not only impacting companies, it affects any sector, any type of job, any function in companies. Digitalization is altering the traditional competitive landscape of companies. Indeed, it drives multiple changes including, among others, the followings:
It is disrupting traditional business rules. It provides new ways to create and capture value, as well as revenue. The right combination of digital technology, information, and physical assets can grant a digital edge that may create a competitive advantage. However, a large number of companies underestimate the considerable influence of this technology.
The real threat from the use of digitalization emerges from a company’s ability to enhance its performance by combining digital technology and physical resources. A truly digital company incorporates digital principles into its strategy, business model, operations, and culture.
Today, any company needs to exploit the potential of this technology by developing a digital strategy. Such a strategy consists of a combination of digital technology, information, and physical resources that allows raising human performance.
In brief, a digital strategy is not a choice. It is becoming a requirement for any organization that wants to remain competitive and relevant to its markets.