As we are nearing the end of the black tunnel called Covid and the economies are desperately looking for ways and means for recovery, the one thing that has gained maximum significance is the need for Digital Transformation or simply DT.

While digital transformation is as impactful as an industrial revolution and can result in great opportunities and turn around for businesses, its implementation is tricky and might elude the expected outcome.

In this article, we have tried to catch the various facets of digital transformation through the quotes from some of the world’s leading visionaries, business heads, and inventors.

“We went from being the Flintstones to the Jetsons in 9 months.”

– Dan Schulman of PayPal

“Digital transformation is a fundamental reality for businesses today.”

– Warren Buffett, the legendary investor, and business tycoon

“There is no alternative to digital transformation. Visionary companies will carve out new strategic options for themselves — those that don’t adapt will fail.”

– Jeff Bezos, Head of Amazon

“Every successful organization has to make the transition from a world defined primarily by repetition to one primarily defined by change. This is the biggest transformation in the structure of how humans work together since the Agricultural Revolution.”

– Bill Drayton, the pioneer of social entrepreneurship

“Every industry and every organization will have to transform itself in the next few years. What is coming at us is bigger than the original internet and you need to understand it, get on board with it and figure out how to transform your business.”

– Tim O’Reilly, Founder, and CEO of O’Reilly Media

“At least 40% of all businesses will die in the next 10 years… if they don’t figure out how to change their entire company to accommodate new technologies.”

– John Chambers, Cisco Systems

“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.”

– George Westerman, MIT Sloan Initiative on the Digital Economy

“One of the factors that I believe is the biggest obstacle to transformation is the fear of cannibalization.”

– Ganesh Ayyar, Mphasis

“The last ten years of IT have been about changing the way people work. The next ten years of IT will be about transforming your business.”

– Aaron Levie, BOX

The disconnect between the people and the system may be the biggest bottleneck in the success of the digital transformation.

“You can’t delegate digital transformation for your company… You and your executives have to own it! Executives need to engage, embrace and adopt new ways of working with the latest and emerging technologies.”

– Barry Ross, Ross & Ross International

“90% of CEOs believe the digital economy will impact their industry, but less than 15% are executing on a digital strategy.”

– MIT Sloan and Capgemini

Adopting digital transformation is the only way to do well in the digital economy, but for that, you need to have a comprehensive digital strategy.

“The biggest part of our digital transformation is changing the way we think.”

– Simeon Preston, Bupa

The success of digital transformation requires an infusion of digital systems and processes into the mindset of the people and culture of the business.

Takeaway

Digital technology has inherent power for greater customer engagement and efficiency gains but it requires a synergy between the individual processes to formulate the paradigm of transformation. However, if the mindset of people and organisational practices aren’t adaptable to change, digital transformation will fail to yield any tangible result.

Source : Fluidscapes

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