The process of digital transformation began few years ago. Think back to how words processing fundamentals changed the way we write or how email transformed the way we communicate. However, the scale of transformation currently underway is drastically more significant, with dramatically higher stakes. For some businesses, digital transformation is a boon.
TRADITIONAL BUSINESS MODELS
To understand how the businesses that embrace digital transformation can ultimately benefit, it helps to look at the changes in business models currently in process.
SOME OF THE EXAMPLES INCLUDE:
A focus on outcome-based models — Open the door to business value to core users/internal customers as determined by the outcome or impact on the customer’s business.
Expansion into new industries and markets — Extend the business reach virtually anywhere — beyond strictly defined customer demographics, physical locations and traditional market segments.
Pervasive digitization of products and services — Accelerate the way products and services are conceived, designed, and delivered with no barriers.
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