Categories
Digital Transformation

IoT for Digital Transformation

The Internet of Things or IoT for digital transformation is a very important investment any company could make today. Why is that the case? Keep on reading to know more.

IoT for Digital Transformation

IoT is the next big thing in technology. It is making everything smart and everything connected. The power of the IoT is not just in making everything smart but also in getting valuable information from the devices connected.

The power of IoT for digital transformation is not just in making things smart, but valuable with valuable information Digital transformation is a process where any company will transform to become more valuable to its customers, employees, partners, and shareholders. This process will include all aspects of the business including culture, processes, attitude, mindset, strategy, etc.

Further, IoT can make things smart, but it can also make things intelligent. An intelligent device is not just able to collect valuable data, but it can analyze the data and learn. This makes the device more valuable in the future.

The power of IoT for digital transformation is not only in making things smart but also in making things intelligent. IoT is one of the most important aspects of digital transformation. An organization that has started with IoT has started its digital transformation journey with IoT for digital transformation.

Furthermore, IoT is not just for big organizations, but also for small and medium businesses. Anybody can start with IoT in small steps with a small investment in comparison to the value they will get in return.

Why Are Companies Investing in IoT?

Companies are investing in IoT because there is huge potential to become more valuable customers, employees, partners, and shareholders by using IoT. Also, they are investing in IoT because they want to make their processes smarter and fast by getting valuable data from connected devices.

For instance, a manufacturing company can get valuable information about the defects of their products from connected devices which can help them take corrective measures before they reach customers. Thus, this company saves costs on quality control measures and they improve the quality of their products which leads to fewer returns from customers leading to more sales leads to higher profitability for this company.

Another reason why companies are investing in IoT is that connected devices can collect data anytime anywhere. Thus they do not have to worry about collecting data at fixed time intervals or fixed places only. This provides better insight into what is happening right now thus enabling a better decision-making process.

The amount of data collected by connected devices is huge which means that companies need to invest in technologies that will help them analyze the huge amount of data generated by connected devices. So that they can derive valuable insights from the analysis of this big data

The companies which will be able to derive valuable insights from the analysis of big data will be able to make better decisions which will lead them towards better profitability.

So, IoT for digital transformation is a huge investment that can have a huge impact on the business. Any company that has started its digital transformation journey with IoT has started a long path of becoming a digitally transformed company.

Categories
Digital Transformation

Digital Transformation Topics

Knowing various digital transformation topics is important for everyone in your company. Why? What are these topics? Let us know more about that below.

Digital Transformation Topics

Digital transformation is being talked about everywhere in the industry. The term is associated with technological changes. Different companies have different opinions on digital transformation.

Digital transformation is a broad topic. It has many aspects and dimensions. As a result, there are many digital transformation topics in the industry. There are certain topics that everyone in your company should know.

These topics include:

Cloud computing is an important topic for everyone to know about. It is an essential service for all businesses to build their digital capabilities.

Digital transformation is being talked about everywhere in the industry. The term is associated with technological changes. But different companies have different opinions on digital transformation. Also, it is a broad topic. It has many aspects and dimensions. As a result, there are many digital transformation topics in the industry.

Artificial Intelligence (AI) is one of the most important topics that everyone should learn about. AI is an important topic because it is expected to affect businesses significantly in the future. Different companies have different opinions on AI implementation and implementation strategies.

AI is expected to enhance customer interaction and improve products and services offered by businesses. However, AI implementation presents some challenges.

Robotics is another digital transformation topic that everyone should know about. Robots are used to perform tasks such as welding, painting, assembly, packaging, handling, and testing goods among other complex tasks. They are also responsible for maintenance and production support in industrial environments. Robots can be used for both industrial and non-industrial applications.

How to Discuss These Topics

You may wonder how you will discuss digital transformation topics with your colleagues. It is simple. You can discuss digital transformation topics over lunch, coffee, or any other place where you meet colleagues. But the best way to do it is to do regular training sessions.

Digital transformation training is essential for everyone in your company to know about these topics. Training will enable you to understand these digital transformation topics better and also prepare you for the future of your business. This training can be taken online or offline. You can choose between these options depending on your schedule and preference.  

However, if you prefer offline training then Amazon provides Kindle books that will help you learn about different digital transformation topics. 

Also, you need to note that you should start training them early. You should start getting your team ready for this change in the next 3 years. This is because the impact of digital transformation is already in full play and many ways, it dominates the landscape in which we live and also work. 

Your company might be thinking about digital transformation but not sure of the risks involved. This is why you need to do training for digital transformation. This will help you prepare your employees for any risks you may face.

Categories
Digital Transformation

Manager of Digital Transformation

The manager of digital transformation is an asset to your digital transformation team. He will need to play a vital role in it. What, then, are these roles? Read on to know more.

Manager of Digital Transformation

Doing digital transformation is a team sport. It is a rare occurrence when a company can transform on its own steam. This is because digital transformation is a function of many areas. It involves the entire company, from top to bottom down to the last man on the bench. A company cannot achieve digital transformation on its own without outside help.

The manager of digital transformation will be the best person to get this help. Why? For one, he is the visionary. The person in charge of digital transformation will have to inspire his team to go out and make a difference. He has to get people excited about what he has in mind for the company and transformation in a company is not an easy job.

It is a challenging task that requires a lot of hard work, dedication, and commitment. And when you want to transform in the right way, you need the right kind of people in your team. If you are thinking of transforming in the right way, then you need to identify the right kind of people for these roles. These are the roles that will help your digital transformation team to do well, and be successful.

Digital transformation is about bringing change to your company. And to bring change, you need to have a good strategy for it. You need to have a good plan that outlines how you will be changing, and what needs to be done. To plan for digital transformation, you will need a good strategy. And for this, you will need a good strategist.

The strategist is one of the most important people in your digital transformation team. He will be the person who comes up with the plan, the direction you will be taking to achieve digital transformation. This is another role the manager must take.

Doing the Journey

Digital Transformation is not a hard job. It is a dynamic process that takes the entire company to achieve success. This is why you need a manager for this job. You need someone who can inspire you, lead you and make sure that everything goes according to plan.

Digital Transformation is not an easy thing to do, but if you have the right kind of people on your team, things will go more smoothly than they would if you had amateurs on your side. Hire people who can do what you want them to do, and what they are supposed to do.

Hire people who are not only good at their jobs but also share your vision of digital transformation. This way, you can achieve what you want more easily than if you hired amateurs on your side. these changes, you need to have people working on it.

Digital transformation is not just about technology or money. It is also about people. And this means that you will need a team of lawyers to make sure that everything goes according to plan, and no one gets hurt along the way.

Categories
Digital Transformation

Digital Transformation Hype

What is with the digital transformation hype today? Why are more and more companies doing this transformation? If you are curious, then keep on reading.

Digital Transformation Hype

A digital transformation, sometimes called digital reinvention, is the process of re-imagining a company or product with technology. A company may transform to better fit the needs of its customers in the digital age. They may also do it to be more efficient in their processes, or to reach new markets they weren’t able to before. Like they did when they first made the transition from paper to digital records.

So why are more and more companies doing this? The answer is simple. Most companies today are digital companies. They don’t manufacture goods anymore; instead, they provide services. 

A great example of this would be Uber. Uber doesn’t own any cars. Instead, they provide a service connecting people who need rides with people who are willing to give rides.

What does this mean for you? Well, if you are looking for a job, you will most likely look for jobs with companies that provide services instead of goods. If you are an accountant, then your clients will be more likely to be digital companies than manufacturing companies.

Businesses During Digital Transformation

When there is a downturn in the economy, which type of businesses thrive? The ones that provide services or the ones that manufacture goods?

The answer is simple. Digital companies thrive during recessions because they don’t have as many overhead costs as manufacturing companies do. They don’t have to pay for machinery and equipment to produce their product. Instead, they just need computers, software, and employees to provide their service.

When times are tough and money is tight, people don’t go out as often as they usually do. They also don’t buy as much furniture or electronics as they usually do. Instead, they stay home and order out or order their food from a restaurant or delivery service. They also buy fewer clothes and shoes from the shops instead of going shopping for them.

When times are up and money is flowing freely, people go out more often and buy more things from stores instead of ordering out or getting things delivered from restaurants or delivery services. They buy more clothes and shoes from stores too instead of going shopping for them. 

A great example of this would be Uber again. Uber’s profits drop when oil prices drop because people start using public transportation instead of riding in Ubers. This is because public transportation is cheaper than riding in Ubers when oil prices drop.

It Is Not a Hype Anymore

That’s why digital transformation is so big right now! It’s not just hype! It’s about providing services to your customers around the world who have different needs based on where they live! So, if you are looking for a job, look for jobs with companies that provide services instead of goods.

Do you have any questions about digital transformation? Please feel free to ask a question in the comments section below!

Categories
Digital Transformation

CFO During Digital Transformation

A CFO during digital transformation gives a lot of help to their company. He will play a vital role in it. How so? Let us know below.

CFO During Digital Transformation

A Chief Financial Officer or CFO is the person who is responsible for the financial matters of the organization. The CFO is considered to be the “keeper of the company cash”.

Digital transformation can be defined as a set of strategies, tactics, and methods that are adopted by an organization to transform its business processes into digital. It is also known as enterprise 2.0 or next-generation business model or bimodal IT.

CFOs helping the digital transformation has several benefits like digital business transformation helps in:

  • improving operational efficiency
  • reduces human mistakes
  • reduces costs
  • improves customer relationships
  • allows businesses to grow at an exponential rate

A CFO during digital transformation gives a lot of help to their company. He will play a vital role in it.

CFO During Digital Transformation: What Do They Do?

So, what does a CFO need to do during the digital transformation? CFOs need to help develop a strategy that can be implemented in the overall digital transformation of the company. He should have a clear understanding of the strategic plan.

CFOs should have a clear understanding of the top priorities that should be taken up first.

The CFO also needs to understand the budget that is required for the implementation of various strategic plans and priorities.

They should also assist in developing a plan for the effective implementation of digital transformation while taking into consideration the constraints and limitations that may come up while doing so.

The CFO should also ensure that all financial data is stored securely and safely across all devices at all times. He should also make sure that backups are regularly done for secure storage and restoration in case any data loss occurs.

CFOs should make sure there is proper financial reporting done for all the new digital channels of communication like social media or email or chat or SMS or any other digital communication channel.

CFOs should make sure there are proper financial controls put in place for all these new communication channels to check on any misuse of these channels by any employee.

Thus, CFOs play an important role in helping the company achieve its goals through digital transformation.

What Are The Skills They Need to Have?

These CFOs should have the following skills:

  • Good business acumen. He should be able to identify the key business challenges faced by the company and come up with solutions to tackle them.
  • Technical knowledge about IT systems like ERPs, CRMs, and more. He should know how these systems work and how they can be used to achieve the company’s objectives.
  • Communication skills. The CFO should be able to communicate effectively with all employees, especially those employees who are involved in the implementation of the digital transformation plan.
  • Leadership skills. A CFO should be able to lead his team properly through the digital transformation plan.

Thus, the role of a CFO during digital transformation is an important one as he will be helping in achieving the company’s goals.

Categories
Digital Transformation

Digital Transformation Expo

What is a Digital Transformation Expo? Have you tried attending one before? If not, then this article is for you. Get to know what an expo is below.

Digital Transformation Expo

A Digital Transformation Expo is an event that brings together the roles of business, technology, and leadership to help organizations become digital. It is an event where businesses, technologists, and leaders meet to learn, build and grow.

Digital Transformation Expos have been held in different countries around the world so far. There’s no reason why your business cannot be a part of a region’s Expo. The expos are a perfect platform for organizations that want to grow in a digital world. Why? Because they are filled with the right people at the right time. They help businesses understand the importance of digital transformation in today’s business world.  

Also, an expo would be a great event to attend if you are an entrepreneur or an innovator. You need to know what is going on in the world of digital transformation. You need to understand the concepts behind it. Also, you need to get involved in the community.

Digital Transformation Expo: The Benefits

There are many benefits to attending a Digital Transformation Expo. One of the biggest benefits is the chance to connect with the right people at the right time. Remember, these events are not just about learning new things, they are also about meeting new people and getting involved in your industry’s community.

Who should attend a Digital Transformation Expo?

  • Organizations who want to become digital Organizations who want to grow digitally
  • Organizations who want to see their future digitally
  • Businesses looking for new trends
  • Entrepreneurs wanting to innovate digitally
  • Leaders who want to create digitally Sustainable businesses looking for growth opportunities
  • Digital businesses looking for partnerships

What should I expect at one? It will take place over two days where you can expect:

  • The best presentations from relevant speakers 
  • A lot of networking opportunities 
  • Great chances for collaboration 
  • A chance to learn from other leaders 
  • A chance to build your team with other passionate individuals 

The best after-party ever!

What kind of speakers will be there? There will be many topics covered during the expo. The selected topics are based on what is relevant in today’s business world. Some of them include:

  • Artificial Intelligence 
  • Machine Learning 
  • Customer Experience 
  • Chatbots 
  • IoT 
  • Drones 
  • VR/AR 
  • Big Data

Then, you can expect speakers to share their thoughts and experience on the topics mentioned above and more! Also, the best part is, the speakers are real industry leaders who are committed to making our world digital.

Attend One Next Time

As you can see, an expo is an excellent opportunity to learn, build and grow. Why don’t you attend your region’s next Digital Transformation Expo? It is a great place to be if you want to get involved in the digital transformation community. It is a great place to get to know your industry leaders. Also, it is a great place for networking and making new connections. So, what are you waiting for? Spot the next expo and attend it.

Categories
Digital Transformation

Digital Transformation Unit

To spearhead your journey, you will need to have a digital transformation unit. This unit will be the one to lead your transformation efforts. Do you already have one? If not, then keep on reading below.

Digital Transformation Unit

A digital transformation unit should be able to do the following:

1. Understand the business goals and objectives of the company.  

2. Identify the company’s digital capabilities, assets, and gaps.  

3. Assess the risks and opportunities associated with the digital transformation.  

4. Prioritize strategies to address these risks and opportunities to achieve your business goals.  

5. Generate a digital roadmap that will guide your organization in achieving its digital transformation goals.

6. Guide the organization’s transformation efforts using the digital roadmap.

Once you’ve done this, you will need to make sure that your employees are ready for the digital transformation. They need to understand the company’s vision and mission. They also need to understand how they can make an impact in achieving the company’s vision and mission. This means that you should have a clear strategy on how to educate your employees.

This will be the hard part. You will need to tell them why they should follow your vision and mission. You should also have a plan on how you are going to educate them about it.

With the right digital transformation unit, you can now start addressing risks and opportunities, prioritizing strategies, generating a roadmap, guiding your organizations’ transformation efforts, and educating your employees about it all.

But who should be on your unit? Well, it should be composed of key people.

Who Should Make Up Your Unit?

Your unit should have the key members of the organization. These members should be the ones to ensure that your organization’s transformation efforts will be successful.  

For example, you should have an IT leader to lead the digital transformation of your company’s IT infrastructure. You should also have a business leader who will be in charge of leading and managing the digital transformation of your company’s business operations and processes.

These leaders should be able to complement each other. They should even be able to balance each other out.

You also need to include top-notch experts who will help you monitor and evaluate your digital transformation. Also, you will need to have an experienced digital transformation consultant to help you out.

Be sure to include members from high management as well. This is to ensure that there will be continuity in transforming your company into a digital organization.  

You also need to include members who will be able to lead and manage your company’s digital transformation efforts. They will serve as the ones who will make sure that the digital transformation efforts will run smoothly.  

Then, be sure to give your team access to resources and tools that they can use in monitoring and evaluating the progress of your digital transformation efforts. You should also make sure that they have access to experts who can help them do this. This can be done by establishing a collaborative platform. 

Categories
Digital Transformation

Digital Transformation Advisor

Companies wanting to succeed in their journey can get the help of a Digital Transformation Advisor. Who is this person? What does he do? To know, read below.

Digital Transformation Advisor

A Digital Transformation Advisor is a person who is always at hand to provide any kind of assistance to companies that have decided to embark on a digital transformation journey. The advisor is a well-informed subject matter expert from a wide variety of industries since he has worked with a lot of different companies already. He knows the ins and outs of the digital world but also knows how to keep it real and keep it simple.

The advisor advises his client throughout the entire process, from the first steps to the last ones. He will be there for them at every step. He will give them advice on where they should go, what they should do, and how they should do it. In short, he will help them make good decisions.

A Digital Transformation Advisor has a lot of experience in this field. He knows how to do it right. In his previous projects, he has seen what the mistakes were and he has seen what the successes were. He knows the “dos” and the “don’ts”.

The advisor is also a great communicator. This is very important, especially when you consider all the people involved in a digital transformation project. The client company will have a lot of internal stakeholders and they will need to be kept informed daily. The advisor will be the one to inform them.

The advisor will also help to ensure that all parties involved are on board with each step of the process. In addition, the advisor will be the one who ensures that all deadlines are met and that project expenses are kept within budget. Companies want to succeed and so does their Digital Transformation Advisor.

Skills to Be One

The role of a Digital Transformation Advisor is not an easy one. It requires a lot of work and it requires a lot of effort and dedication on his part. But if he does his job well, the client company will be very happy with his services.

They will see their business take off and they will see their revenues rise exponentially. They will see that they have made the right decision in hiring such an expert to guide them along their digital transformation journey.

But what are the skills an advisor must possess? Well, there are many, but the most important ones are the ones below.

There is no easy way to become a Digital Transformation Advisor. There is no shortcut because this is not an easy job. To become a successful advisor, one must be willing to work hard and smart. The person must be able to work well under pressure, but also make good decisions when there is no pressure at all.

This is not an easy task for anyone, but there are ways to make it easy. For instance, you can start by making yourself familiar with the digital world. You can do this by reading books or visiting conferences or seminars about it. You can also talk to people who work in this field and who have worked on projects that have succeeded.

Categories
Digital Transformation

CMO and Digital Transformation

CMO and digital transformation. What do these two have to do with each other? What roles does a CMO have to do with their company’s transformation efforts? Read on to know more.

Digital Transformation

Digital Transformation is a buzzword today. It is an umbrella term that defines changes to enable digital business models. It covers changes in technology, business processes, organizational structure, culture, and staffing.

The aim is to use technology to create new business opportunities, improve efficiency, cut costs, increase revenue streams and create a competitive advantage.

Digital transformation is a strategic business initiative in which a business organization re-engineers its processes and systems to adopt and leverage information technologies and e-businesses.

It is the use of digital technologies to transform an organization from traditional, analog technologies to digital or electronic technologies. It has been described as encompassing four main areas: business models, products, services, and technologies.

Digital transformation is also known as digital change, digital shift, digitization, digital re-engineering, digitization transformation, and virtual transformation.

CMO and Digital Transformation

A Chief Marketing Officer or CMO is a corporate officer who leads a company’s marketing strategy and planning. It is often seen in the news and the press. But how does it affect a CMO? How can a CMO help digital transformation? What roles does a CMO have with the digital transformation of the company?

CMOs who do not support the digital transformation of the company will resist the change because of the fear of losing their jobs and revenues. This fear of losing your job and revenues is the usual reaction of the CMOs when they hear about the words “digital” and “transformation”.

When they hear about “digital transformation”, most CMOs react negatively because they think that digital transformation means that they will lose their jobs or get less revenue for their businesses.

But that’s not true at all! Digital transformation does not mean that the CMO will lose his job nor will he get less revenue for his business. Digital transformation means more revenues for his business and more opportunities for him.

The CMO has to realize this and he has to be more open-minded with this so-called digital transformation. He has to be more open-minded with this so-called digital transformation.

If CMOs get on board with digital transformation, they can completely change the business. They can make it more efficient, more effective and make it the number one company in the market.

Digital transformation is not a task for one person or manager. It is a complex process that involves people from different departments and business units to make the change. It involves identifying and adopting emerging technologies and methodologies, and using them to redesign processes, products, or services, ultimately driving revenue growth or cost savings.

CMOs need to give up some of their job functions as they will have to work with other departments to make this happen successfully. 

Last Words

So, CMOs, if you want to make your company more efficient and make it the number one company in the market, then you have to be prepared to be open-minded with digital transformation. Whether they like it or not, it is inevitable.

Categories
Digital Transformation

Business Model Digital Transformation

Business model digital transformation is also important as with other kinds of transformation. Why is this so? Let us know the reasons below.

Business Model Digital Transformation

In doing digital transformation, it is necessary to change the traditional business model to the new one. It is also possible that in doing digital transformation, you can create new business models.

The business model transformation is important. Because the old business models are increasingly unable to meet the demands of the modern digital era. Therefore, it has become necessary to change it.

New digital technologies are changing the way people work and live. That is why businesses should also change their business model to be able to survive in this increasingly competitive market. If they try to use the old model, they will not be able to compete with other companies. Those that already use new technology in their work process.

The transformation of the company’s business model is not easy. It requires a lot of effort and time to do so. The transformation of the business model is done in several phases.

Business Model Digital Transformation: The Phases

The first phase of business model transformation is called the discovery phase. The purpose of this phase is to understand your current business model. During this phase, the team will learn the strengths and weaknesses of their current business model. After that, they will also examine whether or not that model can be transformed into a new one that will be able to meet the needs of the digital era.

This is known as an evolutionary process. It means that you will not make radical changes to your current business model but gradually change it until it is completely transformed into a new one.

The second phase of business model transformation is called the exploration phase. The purpose of this phase is to find alternatives to replace the old model with a new one. This process may take a long time because there are many alternatives and you need to make sure which alternative will best suit your needs and meet your business goals.

The third phase is called “creation” or “commitment”. In this phase, you should create a new business model that has been created in the previous phase, and then commit yourself to it by making changes in the company’s operations and structure to ensure that it can work well with that new business model. At this time, you should also test how well that new business model works and test its effectiveness in meeting your goals and objectives. After you get good results, you can move to the next step which is called implementation.

In this fourth phase, you should implement changes in your company’s operations and structure according to the new business model. You need to make sure that all employees understand and follow this new way of doing things so that it will result in improved performance for your company by its newly established goals and objectives

Conclusion

So, how do you think about business model transformation, and what is the importance and meaning of changing the old model into a new one? Are you ready to transform yours?