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Concept
Digital transformation
Summary
Digital transformation is the process of adoption and implementation of digital technology by an organization in order to create new or modify existing products, services and operations.
The goal for its implementation is to increase value through innovation, invention, improved customer experience and efficiency. Focussing on efficiency and costs, the Chartered Institute of Procurement & Supply (CIPS) defines digitalisation asthe practice of redefining models, functions, operations, processes and activities by leveraging technological advancements to build an efficient digital business environment – one where gains (operational and financial) are maximised, and costs and risks are minimised. CIPS has also observed that "digital capability" can be used to support supply chain transparency and remote working.
However, since there are no comprehensive data sets on the digital transformation at the macro level, the overall effect of digital transformation is still too early to comment.
Digitization is the process of converting analog information into digital form using an analog-to-digital converter, such as in an image scanner or for digital audio recordings. As usage of the internet has increased since the 1990s, the usage of digitization has also increased. Digital transformation, however, is broader than just the digitization of existing processes. Digital transformation entails considering how products, processes and organizations can be changed through the use of new digital technologies. A 2019 review proposes a definition of digital transformation as "a process that aims to improve an entity by triggering significant changes to its properties through combinations of information, computing, communication, and connectivity technologies". Digital transformation can be seen as a socio-technical programme.
Adopting digital technology can bring benefits to a business, however, some company cultures can struggle with the changes required by digital transformation.
Official source
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