Businesses Shifting to ‘Digital First’ Approach with Digital Transformation

Businesses are transforming their business models and adopting mobile devices, online platforms and social media for effective communication with the customers. Hence, digital transformation is taking place where digital software and services are becoming core in various business verticals like manufacturing sector, retail sector and BFSI and also enhancing customer experience.

Owing to the increasing penetration of smartphones, shift from print to digital media and change in buying habits of consumers are some of the factors resulting into media & entertainment sector to be the fastest growing market in digital transformation, followed by the retail sector.

Rise in adaptation of modern technologies to boost the demand for digital transformation

Major companies and governments across various countries are using innovative technologies, from using Internet of Things (IoT), to automation for smart cities and changing the way of carrying various business activities. With help of built-in sensors in cars, electricity grids, traffic cameras and street lights, government and key players are able to collect and distribute data automatically, along with effective communication.

Along with the digital transformation, companies are also working towards protecting data and infrastructure. Companies are using various technologies to detect the attack or threat and to secure and protect against it.

Companies going for digital transformation should leverage technologies that people would want to use. However, there are certain barriers to digital transformation such as lack of skills required, inability to conduct a quick experiment with new technology, risk-averse culture in organizations, lack of budget to invest in new technology, absence of a business model for digital transformation and lack of ability to fight against cyber-attacks and other related threats.

Genpact launches new platform to fast-track digital transformation

To accelerate digital transformation for enterprises, key market players are launching new technology and platforms. For instance, Genpact launched Genpact Cora, an Artificial Intelligence (AI) based platform that fast-track digital transformation for organizations. Genpact Cora finds the operational business challenges and tackles them, enabling companies to solve business issues.

Similarly, Avaya, a technology company has launched Avaya customer engagement cloud solutions, providing flexibility to businesses for integrating and adopting new technologies and to enhance customer engagement and experience.

Companies are also entering into partnerships and mergers and acquisitions to accelerate digital transformation. For example, Accenture has acquired Intrepid, a mobile design and development company. Accenture plans to provide digital transformation services for which it considers mobile solutions a key ingredient. Acquisition of Intrepid will help Accenture expand its native app development, web development, connected device engineering and design capabilities.

Abhishek Budholiya

Abhishek Budholiya is a tech blogger, digital marketing pro, and has contributed to numerous tech magazines. Currently, as a technology and digital branding consultant, he offers his analysis on the tech market research landscape. His forte is analysing the commercial viability of a new breakthrough, a trait you can see in his writing. When he is not ruminating about the tech world, he can be found playing table tennis or hanging out with his friends.