If digital transformation was mentioned a lot in the past, but after E-COVID 19, it is a compulsory one for businesses, when they want to evolve and survive in the most difficult moments.
It can be said that businesses’ future relies a lot on whether or not they apply digital transformation?
Due to the fact that digital transformation is a promising destination and one of the most powerful tools to help businesses develop compared to the traditional companies.
1. What is digital transformation (DX)?
Digital Transformation Meaning: Digital transformation or DX is a process of applying technology to all aspects of the business such as administration, operations,… instead of using traditional ways like notebooks, handwritten document, in order to help businesses completely transform operational way, increase cooperation efficiency, optimize operational efficiency, and bring benefits to customers as well. Digital transformation is a trend that traditional companies will aim at in the near future.
What is digital transformation? – Source: Businesstodaypro
2. Why businesses need to apply digital transformation (DX)?
With the great effects of digital transformation, businesses don’t apply digital transformation yet, which needs to change their mind and start taking action in order to accelerate the digital transformation process in their internal, especially in Japan where it is the fastest growing IT industry revolution in the world.
There are some given reasons from experts to convince digital transformation that is necessary, and businesses must do it in the state-of-the-art 4.0:
- Data is rapidly developing along with the expansion of the digital market, which against the market operating in the traditional way.
- The need to change due to the degradation of computers in the previous generation.
- Lack of advanced information technology personnel because of technological developments.
Exploiting the benefits of digital transformation is essential at present, because it helps businesses avoid falling into the list of the slow adaptation and they can take advantage of technology to develop their business.
Understanding these reasons, there are now many digital transformation management platforms such as Base.vn, BEMO… aiming to provide solutions for the development of businesses in the future.
Digital transformation helps businesses optimize operations and reduce cost, increase productivity – Source: Juristech
3. Mistakes that businesses encounter in the process of making digital transformation.
3.1 Leaders do not fully understand the importance of digital transformation
Many businesses get accustomed to the traditional process, and leaders feel unnecessarily to do digital transformation (DX) as they see that everything is still under control.
However, when competitors start applying digital transformation (DX), their distance from the opponent has been very far. Many traditional companies have been shocked to see the dramatic change of their competitors.
3.2 When making a digital conversion, you want to be effective immediately
Digital transformation is a process, or is a strategy to help businesses make the conversion one by one. If businesses are anxious to get a digital transformation with immediate results, it is really difficult.
Because in addition to applying technologies to conduct digital transformation, businesses must change the related factors including business process, work habits.
3.3 Applying the same process of competitors’s digital transformation (DX)
Many businesses owners find that their competitors have methods of digital transformation, they rush to invest in the same way as their competitors.
But the problem is: if businesses only make a copy of their competitors, what do they do to make a difference to attract customers’ attention?
Therefore, in addition to observing and considering how competitors apply digital transformation, businesses should find out the real problems that they are facing, if they want to follow process of competitors.
From that points, businesses find ways to be more creative, and effective compared to competitors, this is a smart way that businesses need to take care.
4. Digital transformation technologies such as:
- Digital transformation Big Data
- Digital Transformation AI
- Digital Transformation IOT
- Digital Transformation 5G
- Digital Transformation Cloud
Information technology helps accelerate the digital transformation process – Source: Partyplansoftware
5. Challenges in digital transformation process
- Business leaders do not have a proper view of digital transformation
- Habit and working style are so familiar with traditional styles, and employees are not ready to get accustomed to digital transformation in enterprises.
- The core of digital transformation is also to make everything more transparent, so many people in businesses are affecting their individual benefits.
- Management and operation capacity of technical staff at companies has not beed met.
Although there are many challenges, businesses only need to have determination, and they dare to change from business leaders when applying digital transformation (DX).
So in the future, the digital transformation success story of business will be told in celebrations as a testament to the change of history, a right decision that helps businesses grow.
6. Digital transformation example in the world
A number of companies from small to large have adopted digital transformation to bring more value to their companies, one of which is the digital transformation success of some of the world’s biggest names. gender (Successful companies in digital transformation), as shown below:
There are companies with various sizes which have applied digital transformation to bring more value for their businesses, one of them is digital transformation success of some brand-name companies in the world including:
6.1 Digital transformation history of Toyota
Toyota, they have 6 assembling factories in America, and in addition to 14 factories in North-America, which created 365,000 jobs in the USA.
Toyota has applied the process of digital transformation following:
Set up a so-called “Advanced IT for Manufacturing” program to combine various fields of business.
The North American steering committee of the program has implemented 32 intelligent production systems.
For instance:
“Toyota Operations Availability System (TOAD)” helps
- Save 40,000 working minutes in a factory, and
- $6 million for costs of risk prevention and savings.
The big data control tower for the control panel provides active tracking of partial supply chains help:
- Save $187 million each year for avoiding machine downtim
Develop system using IOT
- Collect data in real time
- Automated analysis and visualization for team members help bridge the gap in education, and experience of employees.
6.2 Applying Digital transformation solution – DBS
DBS: Leading financial services group in Asia has appeared on 18 markets. They published DB digibank – a groundbreaking mobile application designed to help customers operate easier, faster, and more convenient. This design takes human-centered
Some results from DBS:
- They attract more 2,5 million customers in Singapore, and more 1,2 million transactions on the digital device every single day.
- Account at mobile banking occupies more 60% of 500,000 logins per day.
- Their application allows customers to start banking relationships without having to visit a branch.
- Customers can pay with ease – which means customers can use the recent transaction, or favorite list to transfer quickly.
- They provide customers with access to major digital banking services with one-time registration.
Digital transformation brings more value and benefits for your business – Source: Pixabay
With many years of experience working with many successful digital transformation businesses, BAP is always ready and willing to accompany your company to deploy digital transformation solutions like AI, Big data, Blockchain,… in order to conduct digital transformation. And it also contributes to your business that achieves many more success in the development of your business.
