“When digital transformation is done right, it’s like a caterpillar turning into a butterfly, but when done wrong, all you have is a really fast caterpillar.”
The World is rapidly transforming from manual actions to digitalization. Today’s world is a digital world, where a company is running a business of hotel bookings without owing a single room (Oyo Rooms). A travel agency running tour and travel business without owning a single taxi (Ola and Uber), a company selling almost everything without owning a single shop of its own (Amazon, Flipkart), children are getting the education without going to school and college and without availing infrastructure facilities (Zoom, Google Meet). People are transferring money from one account to another without visiting the bank (Payment apps).
Digital transformation increases the reach to the customers; adds value to customer interaction and leads toward better customer relationship management. Digital opportunities are increasing flexibility through improved and fast business processes and boosting up the efficiency of the business. Digitalization facilitating the customers who are sitting in a city or remote area by acquainting them about a variety of products and services are available and helping them to make a choice.
If digital transformation is coming up with the opportunities then it is facing challenges too. Either people do not have knowledge of accessing the digital portals or do not have resources to access them. Digitalization leads to fraud and fishing incidents and leakage of data; restrict businessmen as well as customers to choose the digitalized mode. So security is the biggest ongoing concern for digital transformation.
Still, digitalization is fastening the process, facilitating people, and making life easy.
Assistant Professor, SVSU